Stripe buys key Jewellery Quarter site
The last remaining plot of land in a prime Jewellery Square location in Birmingham has been sold to one of the country's leading small and medium-sized property developers.
Stripe Property Group, which has offices in Newcastle-upon-Tyne and Birmingham, has already made a number of strategic investments within Birmingham, contributing to the regeneration of the city in recent years.
The group’s most recent acquisition, for £700,000 via Birmingham commercial agents Siddall Jones is the development opportunity on the corner of St Pauls Square, adjacent to Henry Wongs restaurant, which will add an additional gross development value of £2.75 million to its portfolio.
The site has planning permission for a four storey building, including retail or commercial use on the ground floor with four large, luxury two bedroom apartments on the three floors above.
Ed Siddall-Jones, managing director of Siddall Jones, which also has offices in Dudley, said: “The St Pauls and Jewellery Quarter location has always attracted significant interest from developers and the market for smaller, more individually designed, schemes is performing very well as purchasers look for a more individual and specialist development.
“We received keen interest from a number of local and national developers, and I am delighted that Stripe Property Group was successful and will take this key site forward.
“Stripe Property Group has acquired a prime development site in one of Birmingham’s most desirable addresses with far reaching views over St Pauls Square as well as being within walking distance of the city centre and Jewellery Quarter.
“The scheme, which was developed by The Space Studio architects and designers, retains the industrial heritage of the location while drawing on modern architectural features with plenty of space and natural light.”
The managing director of Stripe, James Forrester, said: “Our latest acquisition has been just one in a string of strategic investments designed to bring quality commercial and residential development to the heart of Birmingham.
“The city has undergone a huge level of regeneration in recent times and our aim has always been to compliment the changing face of Birmingham by delivering high quality real estate, designed for local businesses and residents alike.
“The site on the corner of St Pauls Square will certainly help achieve this and we are now ready to bring our vision for this plot to fruition.”
