Major mixed-use scheme plans for listed Jewellery Quarter site following acquisition
London Development Group has made its first investment outside of London on Caroline Street in Birmingham’s Jewellery Quarter, with plans to transform the site into a major mixed-use scheme.
Marking its first acquisition outside of the capital, London Development Group (LDG) has acquired the Grade II-listed site and plans to expand the gross internal area to around 40,000 sq ft.
It currently consists of six buildings, of which two are Grade II-listed.
LDG anticipates that plans for the site will include high-end restaurant spaces, offices and new homes, Property Week reported.
The company will work with Birmingham City Council and Historic England to ensure the development enhances the historic street.
Daniel Obertelli, chief executive officer at LDG, said: “We made the decision last January to expand our acquisition remit to include Birmingham.
“This acquisition represents our confidence in Birmingham’s economy during a period of unprecedented growth for the city.
“This development will involve sensitive restoration and careful attention to detail in order to maintain the character of this historic Jewellery Quarter site.
“We are looking forward to working with Birmingham City Council, Historic England as well as our neighbours and local community groups to develop proposals which will enrich the area.”