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PRIVACY
Commercial Property

Jewellery Quarter properties sold for £2m

Group of properties in historic district acquired by developer leading regeneration of Birmingham Mint

64-66 Caroline Street in the Jewellery Quarter has been sold

A group of properties in the Jewellery Quarter have been sold for more than £2 million.

The buildings, in Caroline Street, have been acquired by Raybone Developments which is behind the redevelopment in Icknield Street.

The deal comprises 64-66 Caroline Street, Regent Court at 68 Caroline Street, 18 Regent Parade and 60 Regent Place.

The seller was an unnamed private investor.

It was completed as an off-market transaction for an undisclosed fee "exceeding £2 million", according to a statement.

Tenants at Regent Court are staying in situ following the deal while tenants in the other buildings are on short-term agreements.

They are also expected to stay in place as Raybone decides what to do with the buildings, some of which are older and in need of renovation and refurbishment.

Chris Booth, from property agency Nattrass Booth which represented the seller, said: "We have worked with the owners to piece together the sites over time and believe that Raybone Developments will sympathetically carry out a refurbishment program to bring the properties back to their former glory.