Consortia Developments, the London-based property development and investment company, has bought Gamgee House in Ladywood, Birmingham.
The company has acquired the 17,500 sq ft office building on Darnley Road from BHSF Ltd for an undisclosed sum.
BHSF owned and occupied the building since it was built in 1976. It has sold the property to Consortia Developments following its relocation to new offices at 54 Hagley Road.
Archie Ward, managing partner at Consortia Developments, said: “Gamgee House represents a slight departure from our typical property investments, which are predominantly residential.
“However, when the opportunity presented itself to acquire Gamgee House we saw it as a good investment, given its location on the fringe of the city centre and the fact it sits within the Ladywood regeneration zone and the improvements this will bring to the area.
“We already have a tenant lined up to take the whole of the building, which will be announced very soon.”
Gamgee House is Consortia Development’s second acquisition in Birmingham. The company bought Lockside House, on Scotland Street, from Groundwork, the charities federation, in 2020, which it is currently redeveloping into 61 canalside homes. The scheme is scheduled for completion in 2023.
Consortia is a privately owned and run property development and investment company with a diversified portfolio spanning residential, retail, commercial, and strategic land holdings. The company has sites in the capital, Birmingham, Bristol, Milton Keynes, Darlington, Hereford and Cork, Ireland.
To date, Consortia has delivered 203 new homes, with a further 605 in the pipeline.
BHSF Ltd was advised by Smeeton & Dixon Consultancy.