Deal paves way for Southside development
A prime site in Birmingham’s Southside district has been sold, paving the way for a major new multi-million-pound development of student accommodation and shops, it was announced today.
Developer Bricks Birmingham Capital has completed the purchase of the land and buildings at the junction of Upper Dean Street and Pershore Street, near The Arcadian and the Bullring.
Leading Birmingham law firm Emms Gilmore Liberson and chartered surveyors Pennycuick Collins acted on behalf of sellers Benacre Newco 1 and the Gooch Estate Trustees.
They had already obtained planning consent for a mixed-use development including 323 student bedrooms and communal facilities, and five ground floor retail units totaling 7,530 sq ft.
The 10-storey scheme will involve the retention of the façade of a Grade II-listed building at 42-45 Upper Dean Street as the main entrance into the student block. Construction is expected to start next Easter, with completion ahead of the new student year in September 2018.
Emms Gilmore Liberson property lawyer, associate Beth Margetson, said:
“It’s wonderful to see another part of the Birmingham transformation jigsaw fall into place.
It’s a further example of the regeneration of Birmingham, and of confidence in the international strength of our knowledge economy.
This area is being revitalised and this exciting development at a key site will be a very welcome addition to the city’s residential and retail offering. We are delighted to have played our part in completing the sale on behalf of Benacre and the Gooch Estate Trustees.”
Charles Gillett, partner at Pennycuick Collins, said the project – near the soon to be demolished wholesale markets – could kick-start a generation of development in the Southside area of the city, comprising the Birmingham Smithfield regeneration area.
“This is a prime site that sits within the proposed Birmingham Smithfield masterplan area and a scheme of this quality very much fits into the aspirations of that project,” he said.
“Southside has seen significant improvements in recent years through a number of quality residential schemes and the work of the BID.
With an exciting vision proposed to replace the wholesale markets, this development is likely to be a very attractive proposition to international students particularly or anyone who wants to be right at the heart of one of the most vibrant districts of the city.”
Jason Taylor, of Bricks Birmingham Capital, said:
“We are delighted with this acquisition and look forward to working with local contractors to complete this high quality development.”
The Gooch Estate is expected to take a long leasehold on the retail units to continue to generate income from the site. The Gooch family was one of the founding families of modern Birmingham and still retains significant landholdings in Southside and Digbeth.