Northwood Street, Jewellery Quarter B3 1TU
Offers in excess of £3,000,000
An opportunity to develop a scheme comprising of 41 private apartments and 7 on-site affordable dwellings in one of Birmingham’s most sought after residential locations.
The site is currently occupied by a metal manufacturing premises incorporating an attractive Grade II listed terracotta building with frontage on to Northwood Street. The existing premises extend to approximately 21,830sq.ft. (excluding a small mezzanine floor) and the building is arranged as a part single part two storey factory with three storey offices to the front.
The building benefits from a yard/car park with gated access on to Northwood Street. The total site extends to approximately 0.27 acres. The site benefits from planning consent for redevelopment with the Grade II listed building to be retained and incorporated into the approved residential scheme with the remainder of the premises demolished to facilitate the new build development.
The site is bounded by existing walls to the north east and south east which are to be retained as part of the redevelopment.
The property is situated on the southern side of Northwood Street, a short distance to the north of the attractive and historic St Paul’s Square. The Jewellery Quarter is recognised as one of the most attractive and desirable residential areas of Birmingham and is excellently located for quick access to Birmingham city centre.
The property’s surroundings predominantly consist of high-quality residential, commercial and industrial uses. The Jewellery Quarter’s popularity as a residential destination is shown through the presence of over 80 restaurants, bars and cafés which are within a short walking distance of the subject property and are focused largely around St Paul’s Square.
The Jewellery Quarter is a designated conservation area, proposed World Heritage Site and is considered to be the home of British jewellery with an estimated 40% of British jewellery being made in the Quarter every year. The property is well located for numerous attractive public squares including The Golden Square, St Paul’s Square and Dayus Square. Birmingham’s financial centre, the Colmore Business District, is also within close proximity to the subject site and is located 0.5 miles away.
The nearest railway station is Birmingham Snow Hill, situated approximately 0.4 miles from the property, providing National Rail services to London Marylebone and the wider West Midlands. Birmingham New Street is also located only 0.8 miles from the property providing unparalleled National Rail connections to the whole of Great Britain.
Planning & Development Potential
The property was granted detailed planning permission in November 2019 (under references 2019/00964/PA & 2019/01004/PA) for part demolition of existing buildings and erection of new part three and part four storey buildings, conversion and refurbishment of retained buildings to provide 48 one and two bed apartments and associated cycle parking and landscaped courtyards.
The proposed scheme comprises 15 x 1 bedroom, 23 x 2 bedroom and 3 x 2 bedroom duplex apartments, with an additional 7 apartments designated as on-site affordable dwellings. The development as a whole totals 33,412sq.ft. NSA across Ground to the Third floor with frontage on to Northwood Street.
We understand that the Section 106 requires 7 dwellings to be sold at 70% of their Open Market Value in perpetuity. The units should comprise of 3 x 1 bedroom and 4 x 2 bedroom apartments, the location of which will be agreed once construction commences.
The property is to be sold freehold.
Offers are invited in excess of £3,000,000.
We understand that the property is not elected for VAT.
Further information can be found within our dataroom using the access code ‘Pressworks’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
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- Manufacturing premises with integral offices extending to approximately 21,830sq.ft. occupying a 0.27 acre site
- Planning permission for a 4-storey new build scheme to provide 48 high quality residential apartments totalling 33,412sq.ft. NSA
- 41 apartments for private sale with remaining 7 apartments comprising on-site affordable housing
- Located on a sought after street in the prestigious and highly desired Jewellery Quarter area of Birmingham city centre
- Situated approximately 0.4 miles from Birmingham Snow Hill railway station and 0.8 miles from Birmingham New Street railway station
- Offers are invited in excess of £3,000,000 for the freehold interest
To discuss this opportunity further, please contact Paul Heale or Chris Incledon at Kingsbury on 020 7183 2529 or William Cox or Keir Salter at JLL on 0121 634 6561