The home of a historic Jewellery Quarter manufacturer is set to be transformed into a new mixed-use complex.
AE Harris will move from its current home in Northwood Street, where it has been based since 1964, after which the three-acre site will be turned into flats and commercial space.
The land, which is bounded by Graham Street and Regent Place, has been bought by Apsley House Capital and its joint venture partner Galliard Homes in an undisclosed deal.
This is third purchase made by the JV this year after they acquired a car park in Hurst Street, where they plan to build 385 flats, and the Soho Loop site near City Hospital where up to 800 residential units will be constructed.
AE Harris was founded in 1880 and specialises in manufacturing components and assemblies.
It is owned today by Birmingham Post columnist Russell Luckock, the grandson of the company's co-founder Howard Luckock who launched the business with his brother-in-law Albert Harris.
Robin Norstrom, director of Apsley House Capital, said: "We believe it is the best site in the best location in Birmingham city centre and we are fully aware of our responsibility in maintaining the historic buildings and making sure new buildings and tenants add value to the area.
"This is a wonderful opportunity to create something really special which is full of character and complements the surrounding area."
Stephen Conway, chief executive of Galliard Homes, added: "Galliard Homes is known for acquiring and developing some of the UK's most historically significant and landmark mixed-use schemes.
"We are very pleased to have worked with our partners, Apsley House Capital, in the acquisition of this new site and we look forward to realising its potential, and upholding its historic integrity."