Joint administrators announce sale of Birmingham Mint development

The historic site of the former Birmingham Mint development, on Icknield Street, in Hockley, Birmingham, has been sold by administrator Deloitte to Raybone Developments (Mint) Limited.  

Joint administrators Matt Cowlishaw and Dominic Wong of Deloitte completed the sale of the site, which was part of the Junared Group of companies, which fell into administration on 8 June 2009.

The development, which is part complete, will create 192 high quality residential one, two and three bedroom apartments, together with 51,000 sq ft of commercial space.

Mr Cowlishaw said: “We are pleased that, with the help of many of the professionals and contractors involved with this development, a sale has been achieved. Work had ceased on the development in September 2007 and the sale will result in the development, on an important site in the city centre, being completed.”

David Raybone, of Raybone Developments (Mint) Limited, said: “The company is delighted with the acquisition of such a high profile site in the Jewellery Quarter. The 192 apartments will be retained by the company and let out to professional clients as a gated community, with an onsite management and maintenance team. The planning will be increased to 224 apartments and 66,000 square foot of grade A office space, with 234 underground parking spaces.”

Mr Cowlishaw and Mr Wong were appointed as Joint Administrators of Junared One Limited, Junared Two Limited, Junared Three Limited, Burridge Land Limited, Warnock Estates Limited last year. These companies were developing the former Birmingham Mint site, together with two smaller developments in London.

The Joint Administrators were advised by Colliers CRE, Birmingham, in relation to the transaction.

ENDS

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