Sale of 'live-work ' unit in Jewellery Quarter

A unique property in Birmingham 's renowned Jewellery Quarter where the new owner can both work and live has been successfully sold by Siddall Jones.

The leading commercial property agency dealt with numerous approaches for the attractive office and living premises at 6 and 4B Victoria Works on Graham Street.

A final deal was reached with the buyer paying the £297,500 asking price.

The property is in a gated development on the corner of Graham Street and Vittoria Street, with a net internal space of 1,500 sq ft and two car parking spaces.

Edward Siddall-Jones, director of Siddall Jones, said: “We had plenty of interest in this property which makes a characterful office or live-work premises arranged over the ground and first floors.

“We had three viewings within the first week and quickly arranged the sale at the asking price.

“This successful sale reflects how there is still significant demand for front door offices with the demand being fuelled by the relatively low cost of borrowing and the tax advantages of acquiring a commercial property through a private pension SIPP or SSAS.

“The JQ has always fared well in this sector and there is a lack of available properties for owner occupiers to acquire. ”

The property is only a short distance from St Paul 's Square and just over half a mile from Brindleyplace and Birmingham city centre, in an area well served by public transport.

The St Pauls and Jewellery Quarter Metro and train stations located close by, and frequent bus services across the Jewellery Quarter.

The unit is currently set out for offices with the first floor having consent for residential use and boasting a large open plan area with kitchen, bathroom and further space.

The ground floor is connected via a feature steel spiral staircase and provides an open-plan office fitted to a high standard with wood laminate flooring throughout, spot lighting, gas fired central heating and toilets.

Mr Siddall-Jones added: “The property is on a long leasehold term of 999 years from 1988 and is held on two titles, with the first floor on a lease noted as residential and the ground floor as commercial.

“However, the property has been used as office space for over 15 years and both the managing agents and Birmingham City Council 's business rates acknowledge the current office use.

“That said, the property could readily be split back into the two separate entities. ”

Pictured: The unit at Victoria Works