A Victorian building that used to contain a popular canalside bar and restaurant in Birmingham’s Jewellery Quarter has been sold for £1,534,000 in a major investment deal.
Siddall Jones, the top Birmingham commercial property consultants, handled the sale of 21 Ludgate Hill on behalf of its private company client to a UK-based investor.
The freehold property, with a vacant ground floor bar and restaurant that was formerly Stirlings Bar & Lounge, also has five spacious vacant apartments on its upper floors.
Built in the 1850s, the red brick building has three storeys and a basement and is located on the banks of the Birmingham & Fazeley Canal, with frontages onto Ludgate Hill.
Its tall ground floor is capped with engineered cornices, the upper floors have window bays set in an arched arcade of finely detailed brickwork, and there are prominent roof eaves.
After arranging the sale, Siddall Jones has now been instructed by the new owners to find tenants for the 4,000 sq ft commercial element over two floors of the property.
Ed Siddall-Jones, managing director of Siddall Jones, said: “This stunning Victorian building is a great example of an externally unaltered canalside works on a corner site.
“For many years and until recently it was a popular bar and restaurant, and with five spacious apartments above it offers a substantial investment opportunity to the new owner.
“The sale represents strong demand for substantial assets located in the Jewellery Quarter and we are well placed to source and dispose of properties confidentially for our retained clients.”
Maynard Burton of mfg Solicitors acted for the vendor on the deal.
The sale of 21 Ludgate Hill follows the recent £1.5 million sale of Carlton House in Kidderminster and over £7.25 million of properties exchanging or completing for the company during December.