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Landmark West Bromwich office site bought for residential development

02 09 21 Landmark West Bromwich office site bought for residential development hero

The landmark office block Intersection House has been bought for a potential redevelopment by Claremont Property Group on behalf of Beyond Property Group.


Leading global real estate advisor Colliers agreed the £4 million deal for the block and the 0.8 acres of land to the west of the building on behalf of LPA Receivers and Interserve Group Limited as joint vendors. The ten-storey office block, built in the 1970s and located off junction one of the M5 Motorway leading into West Bromwich, has been vacant for nearly 18 months. It was previously occupied by Interserve.

Claremont and Beyond have already submitted an application to the local authority for a residential-led scheme at the site, which extends to approximately 75,000 sq ft over 1.95 acres with 320 car parking spaces.

Andy Robinson from Claremont said: ‘’This is a highly prominent site that we have had our eye on for some time and so we are thrilled to have now secured the property for Beyond. We’ve worked hard to put together and submit a scheme which will bring much needed housing to the area.’’

Co-founder of Birmingham based property developers Beyond Property Group, Deepak Kabra said: “Our purchase of Intersection House will be a great addition to our current portfolio. It’s a landmark site with great historic significance on M5 corridor and is a gateway to Birmingham and West Bromwich. We are currently developing the design with our team of consultants to create a unique mixed-use scheme on this prime location. We’re looking forward to unveiling our plans soon.”

Nick Hammond, Head of Advisory & Restructuring at Colliers said: “This building is instantly recognisable for those arriving into the West Midlands via the M5 and its impressive scale offers significant redevelopment opportunities for commercial and residential uses. It’s great that the site will now be redeveloped to suit the needs of the local community and I am excited to see how this progresses.”

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Nick Hammond

Head of Advisory & Restructuring

Advisory & Restructuring

Birmingham

I am a Director and Head of the Advisory & Restructuring team at Colliers, which provides real estate restructuring, turnaround and insolvency services to lenders, investors, business management teams and practitioners across all UK property sectors.

We specialise in providing effective, practical solutions to complex situations – integrating real estate valuation, strategy and disposal services with in-depth market knowledge to help key stakeholders assess value, identify opportunities, mitigate risk and release capital.

By working closely with the wider Colliers platform and local sector experts across core and alternative markets, we quickly adapt to and evaluate a wide range of property sectors and locations throughout the UK – including residential, retail, licensed & leisure, hotels, healthcare, automotive, office and industrial.

We are passionate about providing effective advisory and restructuring services to businesses, their lenders and investors – combining our restructuring experience with full-service real estate expertise to ensure that every project is delivered in a dynamic, tailored way to achieve consistent and efficient results.

My role includes: 

  • advising lenders and investors on non-performing loans and facility covenant breaches – acting consensually or via appointment as LPA / Fixed Charge Receiver; 
  • working with business and asset managers to help evaluate and reorganise real estate portfolios – including occupied estates, trading assets and investments; and
  • acting for financial consultants and Insolvency Practitioners to assist with corporate restructuring and insolvency – helping to assess value, mitigate risk and maximise returns.

I am a Chartered Surveyor, RICS Registered Valuer, APC Assessor and LPA / Fixed Charge Receiver.

Having worked throughout the real estate cycle since 2007, I have a breadth and depth of experience in property valuation, lease advisory and restructuring.  Prior to this, I studied Real Estate Management and International Banking & Finance at Nottingham Trent University and Nottingham Business School. I also have experience in sales and running a small business.

Outside of work, I enjoy keeping fit, spending time with family & friends and supporting local small & independent businesses, particularly in the food and leisure sectors.

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Kim Inam

PR Manager

Marketing & Communications

London - West End

I'm a communications professional who has previously worked as a journalist for eight years covering a broad range of topics including politics, crime, health and housing in north London. In recent years I have worked in corporate communications for local authorities across London  and joined Colliers in October 2019, initially providing maternity leave cover.

I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, and work with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

As well as supporting various teams within the UK business, I also I curate and edit regular content for the Colliers.com blog, which drives credible business leads to our experts.

 

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