Property developer Court Collaboration has purchased a prime city-centre development site on Legge Lane in Birmingham’s Jewellery Quarter, with the backing of Far Eastern investors who are viewing the city as ‘Boomingham’.
The deal, which has been facilitated by Knight Frank, is Court Collaboration’s third 100% Chinese-equity development in the region and sees the developer securing capital from Prosperous GlobalChina Capital, a consortium of high net-worth investors from China and Taiwan. In a project worth £15 million, the site is set to be transformed into a 78 residences comprising studio, one and two bedroom apartments.
Anthony McCourt, CEO at Court Collaboration, said: “To have secured the site at Legge Lane is a huge win for us. The purchase comes at a time when wealthy Chinese investors are eager to invest in projects abroad, and it’s important for us to capitalise on the exponential growth that Birmingham is currently experiencing.”
Court Collaboration has also secured Far Eastern investment for the redevelopment of Franklin House, the former Cadbury HQ in Bournville, which is currently undergoing a £16 million transformation into 79 luxury homes, as well as 130 Colmore Row, a Grade-II listed building opposite Birmingham’s town hall.
Denise Li, President & Vice Chairman at Prosperous GlobalChina Capital, wants to use Birmingham to show how western cities can grow with the support of Far Eastern investment. “In China, people are interested in ways to invest their money abroad, with property at the top of their list. Birmingham has lots of room for growth and provides us with many opportunities to help the city at a very interesting time in its history. This is a really interesting project for us to get started with Court Collaboration, and the first of many schemes to come,” she said.
To find out more about Court Collaboration and its projects, visit www.courtcollaboration.com.