Consortium of Chinese investors have bought a historic Birmingham building and plan to redevelop it new office space
A consortium of Chinese investors have bought a historic Birmingham building and plan to redevelop it new office space, in what is thought to be the first Chinese investment in commercial property outside London.
The group of investors, comprising businessmen from Hangzhou and Guangzhou, has purchased Grade-II listed 130 Colmore Row from Birmingham council.
The consortium plans to redevelop the 5,500 sq ft Edwardian property into multi-use commercial space.
The purchase has already generated interest, with an offer made for half the space in the building.
The building, built in 1903, was once the office of Alliance Assurance. It stands alongside Birmingham City Council House and Birmingham Town Hall, both prominent civic buildings.
Advising the investors are Anthony McCourt and James Ng, both former property lawyers with Wragge & Co.
Ng said: “I have felt for a long time that one of the unique selling points for this project is to have a Grade A office location for mainland Chinese people to do work in Birmingham.
“One of my main desires is to see whether Birmingham could attract a Chinese consulate. Manchester has one, I don’t see why we shouldn’t. This building would be ideal for that.”