Boost for Birmingham homeless as Bond Wolfe lets new office to housing conversion
Homeless families and individuals struggling to find affordable accommodation have received a massive boost in a deal negotiated by Black Country property experts Bond Wolfe.
A former High Street office block in West Bromwich has been converted into 47 one and two bedroom apartments.
Parham House, now rebranded Metro House, was acquired by a private investor client of Bond Wolfe in 2017 for £1.45 million.
Conversion works have now been undertaken, including full recladding of the exterior.
Bond Wolfe has let the entire building to Finefair on a seven year lease. Finefair Housing is a guaranteed rent company with over 2,500 properties and £1.5 billion in managed assets around London, Midlands and the home counties.
The property will now provide much needed housing for homeless families and individuals placed throughout Birmingham City Council’s local authority area.
Bond Wolfe managing partner James Mattin said: “The housing shortage is well documented and is none more prevalent than in Sandwell.
“Parham House, now known as Metro House, is a classic example of turning a disused office block into quality accommodation with easy access to all local amenities.
“Metro House is one of a number of local office buildings which are being converted into residential use to ease the much heightened demand for housing in the area.”
The deal follows Bond Wolfe’s recent sales in West Bromwich High Street of Society House, the former West Bromwich Building Society offices, and Metro Court, both of which are earmarked for residential conversion.
Jay Gorsia, acquisitions manager at Finefair, said: “We are pleased to have finalised this deal with Bond Wolfe. Finefair provides a solution for local authorities who are struggling to deal with the challenges they face with rising homelessness.
“By providing access to high quality affordable homes we are providing families the opportunity to have independent, stable and settled lives.”
