Property firm York Laurent has clinched a multi-million pound deal which will see an historic part of Birmingham turned into homes.
York Laurent partner Marcel Woodhouse said the deal, which will include a two-storey basement restaurant, would secure the future of Newhall Place on Newhall Hill and the adjacent redundant car park.
Acting for Prince Warnes Properties, York Laurent has sold the entire site to Studley-based LandMarque which has negotiated planning permission on behalf of its principal client Dodd Homes.
The new build of 24 one and two bedroom apartments on the car park site will be Dodd Homes' first venture into Birmingham.
The site, which was on the market for offers over £4.5 million, includes Newhall Place, a Victorian building now redeveloped as a high quality mixed use complex including 16 offices and four apartments. The building also has 14,000 sq ft of basement space on two storeys - earmarked for the restaurant.
Mr Woodhouse said: "Newhall Place was built about 1860 and designed by H.R. Yeoville Thomasson who was also responsible for many of Birmingham's finest buildings.
"He designed The Council House and much of Colmore Row. Newhall Place
was first occupied by a firm of merchants, Shaw Hawkes & Co. With space at a premium in the city centre, mature investors are seeking value and that value is to be found in Hockley in developments such as this.
"It has been a source of some considerable professional pride to work together on this project which sees another part of Birmingham's history saved and relaunched for future generations."
During the past six years, York Laurent has established itself as one of the fastest-growing property agents in Birmingham.