A former car showroom in Birmingham city centre is set to be turned into a £100 million mixed-use complex following a buyout deal.
Sheffield-based developer HBD has acquired the old Sytner BMW site in the Jewellery Quarter from King Edward's School and Sytner Group in an undisclosed deal.
The company has not yet revealed detailed plans for the 2.6-acre plot, which has been empty since BMW vacated the site in autumn 2019, other than it will be residential led.
This is HBD's second project in the Jewellery Quarter, with plans already under way for the redevelopment of the canalside Cornwall House, in Ludgate Hill, to create 101 apartments with ground floor commercial space.
HBD director Simon Raiye said: "This is a well-known, prominent site that has become vacant so we are looking forward to putting plans together to bring it back into use.
"Living space is in high demand in the city's Jewellery Quarter so we'll be exploring plans for a residential-led, mixed-use development."
Commercial property consultancy Avison Young acted for the joint vendors.
