A small office and retail building in the heart of the Jewellery Quarter is under new ownership.
Chamberlain Building at 36 Frederick Street, next to the quarter's famous Chamberlain Clock, has been bought from MCD Developments by Edgbaston-based Parcap Investments in an undisclosed deal.
The three-storey, 1950s building has 8,978 sq ft of office space and current tenants include Tesco Express, Greggs and recruitment fire Pure Staff.
The building was sold on behalf of MCD by the Birmingham office of real estate agency Cushman & Wakefield and the new owners plan to redevelop the site in the longer term.
Earlier this year, Cushman & Wakefield also sold the Counting House at Derwent Foundry in Mary Ann Street, again on behalf of MDC Developments which last year liquidated ten companies as part of an agreement with RBS bank.
Cameron Thomson, senior surveyor at Cushman & Wakefield, said the sale was further evidence of the growing popularity of the Jewellery Quarter.
He said: "There is continued interest and investment in the Jewellery Quarter which has seen huge improvements in recent years, not least because landlords have spent heavily on improving building frontages and streetscapes.
"There has also been significant improvement to public realm and other pedestrian areas in this thriving suburb of Birmingham city centre."
Satnam Parwana from Parcap Investments added: "The Jewellery Quarter is becoming a vibrant and in-demand area, with its history and heritage being a significant attraction which is why we have made this investment.
"The purchase demonstrates our further commitment to the Birmingham market where we have invested since 2011."