A residential project to revamp a derelict plot near Broad Street looks set to receive the green light next week.

Seven Capital, the property investment company behind several ongoing projects in Birmingham, has applied to build 112 one- and two-bedroom apartments on the corner of Granville Street and Holliday Street in a £17 million new-build project.

The development, to be called Granville Lofts, has been recommended for approval by city council officers ahead of the authority's planning committee meeting next Thursday.

Seven Capital bought the plot from RBS's investment arm West Register which has stepped away from the project.

It initially applied to build 119 apartments but the revised submission now has no studios.

The project, which would reach up to a maximum of seven storeys, would contain 60 one-bedroom and 52 two-bedroom flats alongside 51 parking spaces and a further 52 for bikes.

A report published ahead of the meeting said: "The principle of redevelopment of this site for residential development is consistent with local and national planning policy.

"In addition, there is an extant planning consent for residential development.

"I am of the view that the proposed scheme is well designed - the scale, massing and appearance of the development is acceptable and it would improve help improve the area.

"Furthermore, the site is in a highly sustainable city centre location and the amount of parking is considered appropriate and adequate."

A financial contribution, known as a Section 106 agreement, has been requested including £368,800 towards off site affordable housing and £131,200 to fund enhancements to Chamberlain Gardens.

Seven Capital is also behind the new Park Regis hotel at Five Ways Island and residential schemes in the old Harrison Drape factory in Digbeth, One Hagley Road and Broadway, also at Five Ways, and the former Swan Kettleworks in the Jewellery Quarter which was approved last month.