The historic factory where coins were once minted in Birmingham is to be converted into flats following a meeting of city planners.

Development of the iconic Birmingham Mint on Ickneild Street on the edge of the world famous Jewellery Quarter had stalled four years ago after the bank pulled the plug on funding.

But now under new ownership the three-storey Grade II listed building can now be turned into six luxury flats, above offices.

The grand three-story building was constructed in the Italianate style in 1860 and was home to the Birmingham Mint company, founded by Matthew Boulton.

It was once the world’s largest independent mint and coins were struck there until a decade ago when, following its last major order for the Euro, the business faltered.

The company name now lives on as a website selling commemorative coins and medals.

Planning committee member Bob Beauchamp (Cons, Erdington) said: “It is a beautiful building. I am glad to see that they are happy to keep to the facade as it is.

This gives us reassurance that it will not be damaged.“I am a bit concerned about the solar panels on the roof.”

Planning officer Louise Robinson said that the number of panels had been reduced following talks with the developer and that they would all be on the rear slope of the roof so it does not spoil the views of the front.

The council’s planning officers have recommended the application for approval. There have been no objections from conservation groups.

Case officer Eiryl McCook said: “The application provides an opportunity to bring into use part of a Grade II listed building that is currently empty.

“The proposal is acceptable in principle.”

Developer D Wilson Property Holdings, of Winson Green, has not indicated whether it is ready to begin the building work, but a development of the wider Mint site, for up to 180 homes surrounding the 130ft chimney by Raybone Developments is under way.

The developer will be asked to pay £54,412 towards improvements to the local area and to meet affordable housing commitments.

Four years ago the wider £30 million Birmingham Mint development stalled when the banks pulled the plug on funding and Junared went into administration.

Dozens of contractors were owed cash and investors had already paid deposits. The company was reckoned to owe a total of £2.4 million.

At the time the Junared website boasted that all 186 properties had been sold off plan.

Junared’s collapse ended up in the High Court in 2011 when owner Mazamal Hussain, was handed a £500,000 bill for monies owed to the Bank of Scotland.