The project will turn the Old Art School in Lichfield Road, Sutton Coldfield, into a high-specification development, with the Grade II-listed building transformed into 12 luxury apartments, featuring both one- and two-bedroom homes.
Two show apartments are expected to be launched in August, with the development expected to reach practical completion by November.
The development will be delivered by Birmingham-based business partners Kevin Patrick Sharkey, director at Key Land Capital, and Nick Sellman, chief executive at Urban Village.
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“The Old Art School really is a wonderful building and we will be retaining as much of the original character as possible,” said Kevin.
“It’s a real privilege to be able to bring life back to this historic building, which has been vacant for some time.
“Nick and [I] have identified Sutton Coldfield as a key location in our investment and development strategy.
“The demand for luxury apartments in a central location is strong, and we believe the Old Art School will appeal enormously to investors and owner-occupiers.”