Birmingham has become something of a hub of developmental activity in the past year, with large scale works taking place at Birmingham New Street station, the adjoining Grand Central retail scheme and also at the Mailbox. However, while these are all due to complete in the New Year, 2015 will bring with it a fresh wave of redevelopments, with the Paradise Circus project confirmed to launch in January.
The first phase of the redevelopment will see a number of significant infrastructure works initiated, such as the transformation of a section of the Paradise Circus Queensway road between Birmingham Town Hall and Great Charles Street into a pedestrianized zone. Additionally, major demolition works will take place in the area when work begins on the 5th of January.
Furthermore, the latter part of the first phase will see the first construction aspects of the project take place, with the first two Chamberlain Square office buildings set to be speculatively developed after a detailed planning application is entered early in the New Year. This will greatly ease the pressure upon Birmingham’s office market, as it will bring around 300,000 sq ft of Grade A office space to the city centre.
Chief executive Chris Taylor of project manager Hermes Real Estate believes the launch of the redevelopment programme will be welcomed by local residents keen to see the much discussed improvements.
He continues; “This is the moment we have all been working towards during the years of planning this transformational project.
“We are now in the position to move the development forward rapidly and with absolute certainty.
“The transformation of this significant site at the civic, cultural and historic heart of the city will start with a programme of enabling and infrastructure works funded through the approved investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP).”
The overall project will see the existing Paradise Circus rebranded to simply “Paradise” and around £500 million spent on the redevelopment of significant buildings, infrastructure and public areas. Argent will act as development manager and, with Hermes Real Estate, will deliver the desires of the Paradise Circus Limited Partnership (PCLP), of which Birmingham City Council and the BT Pension Scheme are members.
In total, around 17 acres of the city centre will be affected by the project, but phase one will largely centre round Chamberlain Square. Along with the speculative office developments, the square itself will be improved as a means of creating a pleasing public realm.
GBSLEP chairman Andy Street says; “The long awaited transformation of Paradise is truly exciting and has been made possible by a £61 million investment from the Enterprise Zone.
“This is an excellent example of how the GBSLEP and its partners have worked together, using innovative financial mechanisms, to help unlock a major development within the city.
“Paradise will revitalise this part of Birmingham, creating a substantial number of jobs and helping to attract significant commercial investment.”