St Modwen Developments Ltd has sold Coleshill Manor, the 200-acre former hospital site between the M6 and M42 in East Birmingham on which it gained planning consent for 12,542 sq m (135,000 sq ft) of offices in a parkland setting, installed an access road and secured listed building consent for the period hall.
IM Properties has acquired the complex, which includes 160-acre of parkland, for an undisclosed sum.
St Modwen bought the site, about three miles from Birmingham International Airport from the West Midlands Area Health Executive three years ago.
Derek West, a director of St Modwen Developments, said: “We obtained detailed planning consent for new office development, the conversion of the hall on which we secured listed building consent and installed a new access road and services. Then we were approached by IM Properties who we understand are considering using part of the premises for their own use and speculatively developing the remainder of the office space.
“It is part of St Modwen’s strategy not only to implement development but also to act as an enabler to bring forward sites with the problem solved and to pass them on to others to develop if that is felt appropriate. Our residential programme for example is entirely based on that concept.”
For further information contact Derek West of St Modwen on 0121-456-2800. Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).