The firm has snapped up a 2.6-acre city centre site in Birmingham’s popular Jewellery Quarter with plans for a £100m residential-led mixed-use scheme.

Previously occupied by a Sytner BMW dealership, the site was acquired with vacant possession from the joint vendors, King Edward ‘s School and Sytner Group.

The group’s property development business has also acquired the Allied Business Centre industrial estate in Skelmersdale, Lancashire for £4.75m.

The estate is located adjacent to Junction 5 of the M58 motorway with 150,000 sq ft of warehouses plus serviced offices.

Boot said the 10.7-acre site has low site coverage of around 30% opening opportunity for redevelopment potential in the future.

Ed Hutchinson, managing director of HBD, said: “These two deals are the latest in a series of acquisitions by HBD, which include a key site in Manchester’s St Johns district and the purchase of 60,000 sq ft in Mabgate, Leeds.

“All of these latest acquisitions have significant future redevelopment potential and are an excellent strategic fit for our business.”