Panther disposes of prime development site in £11.3m deal

Panther Securities has completed the sale of its mixed-use Holloway Head site in Birmingham for £11.3m in an off-market deal.

The decision by Panther Securities to dispose of the 1.3 acre site paves the way for a mixed-use scheme, with planning permission already in place for almost 500 apartments.

The site, close to Holloway Circus, received full planning permission in November 2015 for 487 residential units and approximately 5,000 sq ft of commercial space.

The site comprises two long leasehold and three freehold properties acquired by Panther over the last 30 years.

The landmark site is close to Birmingham New Street Station and has been vacant for more than 25 years. The residential element will comprise of two connected 14 storey towers containing 22 studios, 261 one-bedroom and 204 two-bedroom apartments

Andrew Perloff, chairman of Panther Securities, said: “Having spent half my working life piecing this site together, obtaining planning permission and trying to achieve this sale, I am delighted to see it come to fruition at last and finally achieving a successful sale.”

The buyer has not been named.