The office building in the Jewellery Quarter was bought at the beginning of last week, not long after being put on the market.
The three-story building is a part of the Grade II listed Derwent Foundry, near St Paul’s Square.
Derwent Foundry is a Victorian building that had been occupied for over seven decades by a firm that manufactured presses for the jewellery trades, before being converted into apartments.
Let to the recent occupants, Wonderful World Models, the House was opened as a visitor attraction, cafe and retail outlet that housed a range of models, including the likes of trains and aeroplanes.
Cushman & Wakefield, the organisation that placed the House on the market, believed there was competition for the purchase of the building put up for sale at £650,000.
The new owners are private investors.
Senior Surveyor at Cushman & Wakefield, Cameron Thomson, spoke of the sale being further evidence of the Quarter’s growth in popularity, which has seen many redevelopments over the recent years.
“There is a growing confidence in the Jewellery Quarter as an up-and-coming area and it is becoming very popular both amongst occupiers and investors who are looking for stock outside the major prime centres, in order to get better returns at a time when economic confidence remains,” Thomson said.
“This building is effectively new, dating from 2006 when MCD were involved in converting the main Taylor and Challen foundry, another example of an old building associated with the jewellery trade being brought back to life.”