A listed building in the heart of Birmingham's business district has been acquired by a serviced office provider.
Peter Maddox & Associates has bought 50-52 Newhall Street for an undisclosed sum to add to its portfolio of serviced offices in Birmingham, Worcester and Wolverhampton.
The four-storey building, on the corner with Cornwall Street, is 8,098 sq ft and Grade II listed.
It is part-vacant and current tenants include law firm Dass Solicitors and underwriters Connected Cars.
Director Richard Maddox told the Post : "We are hoping to carry out a comprehensive refurbishment of the building but anything we do will require planning consent as it is a listed building.
"I would expect us to be able to bring the serviced offices to the market early next year. We want to make sure we're doing this the right way.
"We are very pleased to be able to add this to our portfolio and were attracted by the fabulous location as this is pretty much as prime as you can get.
"I've already started taking calls from interested people who have seen our banner outside. We only completed the sale last week and people are coming to use rather than us having to go to them."
The sale was handled by the Birmingham office of property consultancy Bilfinger GVA on behalf of joint LPA Receiver GB Judd.
Luke Thacker, from the agency, said: "The sale of 50-52 Newhall Street represents a significant investment for Peter Maddox & Associates which has acquired a high-profile, listed building in Birmingham's burgeoning Colmore Business District.
"There is currently a resurgent demand within the market for smaller, high-quality buildings such as this which offers occupiers a prestigious business address alongside access to the city's growing wealth of amenities."
