Louisa Ryland House, which was placed on the market by Birmingham City Council in July, has been sold in a £7M deal to property development and investment firm Graftongate.
Graftongate has not announced its plans for the building but an office scheme, which according to market sources, would have a gross development value of around £30 million is a likely choice. A mixed-use scheme involving bars, restaurants and cafés is also a possibility.
The Grade II listed building, named after a major nineteenth-century Birmingham benefactor, was originally three separate buildings – Broad School offices which was built in 1881, The Medical Institute that was built in 1879 and the Parish Offices which was built in 1883.
In 1985, it underwent a conversion during which modern materials like steel frames, reinforced concrete floors and double glazed windows were installed.
Until 2012 the historic building was occupied by the city council, but since then it has been predominantly vacant.
Story: Chris Grigorovsky
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