Nearly 80 new luxury apartments are to be developed in the heart of Birmingham's business district.
Developer Adapt Real Estate will lead the conversion of vacant office building Herbert House, in Cornwall Street, following an undisclosed deal to purchase the block by unnamed Hong Kong-based investors.
A planning application to create 77 new apartments with a ground floor leisure unit will be submitted in due course and it is anticipated the development will be completed by late 2018.
Original parts of the 52,000 sq ft building date back more than 100 years and it housed telecoms firm Vodafone until 2014 before it relocated to a new home in the city centre.
Property agency Cushman & Wakefield led the deal on behalf of administrators appointed to sell Herbert House.
Associate David Rigby said: "As a historic building within the heart of Birmingham's central business district, Herbert House offers a unique redevelopment opportunity.
"We have seen growing demand for residential property within this part of Birmingham city centre and received strong interest in the building before agreeing the purchase."
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