A prime residential site in Birmingham has been sold by one of the West Midlands’ leading property agents, Siddall Jones for £2.8 million.
Located at 50-60 Northwood Street in the Jewellery Quarter, the former car park site has full planning permission for 44 apartments and 32 parking spaces with gated access.
Commenting on the transaction, Ryan Lynch, Associate Director at Siddall Jones, said: “We were delighted to be instructed to dispose of this site which had lain dormant for several years, and look we forward to the seeing the scheme, which is scheduled for completion in late 2021, make a fantastic addition to the street.
“The site generated significant interest from both local and national developers, demonstrating that the Jewellery Quarter is still an attractive location for developers, not least because of its young professional workforce and variety of independent retailers and restaurants.”
The ongoing coronavirus pandemic has brought the property industry to a virtual standstill, yet despite the downturn Siddall Jones’ Managing Director, Edward Siddall-Jones is confident that business will return with a renewed vigour.
Highlighting his views on the lockdown, Mr Siddall-Jones adds: “When we eventually come out of lockdown, there will be considerable pent-up demand to be met and those who can hit the ground running and have continued to promote themselves hard through this very difficult trading period, will undoubtedly reap the benefits.
“Site acquisition, consultations, design and planning, is something that can continue during lockdown and we are very keen to facilitate new developments in Birmingham and help bring sites to the market,”