Global property advisors, Colliers International, acting on behalf of property investor Constantine Land, completed the sale of Birmingham’s 50,000 sq ft 7 New Market Street (formally known as Britannia House) to Seven Capital for an undisclosed sum.
The property is prominently located in Birmingham’s central business district, close to Snow Hill station. Planning permission was granted in 2012 to increase the floor-plate, re-clad the façade and refurbish the interior, providing the opportunity to transform 7 New Market Street into a new landmark in Birmingham.
Matt Long, Director of National Offices, Colliers International commented: “This type of property rarely comes on the market; it presents its new owner with an exceptional opportunity to develop a freehold property in the Colmore business district.
“The property is was stripped back to shell condition by Constantine Land, following the move of long term occupiers Putsmans, and planning consent obtained for a major refurbishment scheme that will transform the building into prime real estate. The sale and future renovation of this building will contribute massively to the regeneration of the City core area.”
Andrew Higgitt, of Higgitt Consulting, representing the vendors, commented: “Constantine Land are very pleased to have completed the sale of 7 Market Street, a property which is very significant to Birmingham’s Colmore business district. My clients look forward to seeing the building realise its potential, post renovation.”