Plans for Great Charles Street following site sale
Sterling Property Ventures has confirmed it is drawing up new plans for the Great Charles Street development site.
The property developer has agreed a deal with Birmingham City Council to acquire the two-acre pay-and-display car park site, which fronts the A38 and is bounded by Ludgate Hill, Lionel Street and Livery Street.
Sterling has worked with the Council’s planning and development teams to design a new scheme for the site after initial proposals were tabled during a public consultation exercise last Autumn.
The new plans include a residential tower, comprising more than 432 build-to-rent apartments, which will replace the 250,000 sq ft office tower originally proposed. In addition, there will be 146 serviced apartments, a 126-bed hotel and ground floor retail space.
The £150million scheme will be set around a new public square, accessible from and enhancing the streetscape along Ludgate Hill.
Waheed Nazir, Birmingham City Council’s strategic director for the economy, is responsible for delivering council leader John Clancy’s pledge to build thousands of new homes in the city.
Birmingham is projected to add 150,000 to its population by 2031, which means an additional 80,000 homes are needed.
“Over the next 15 years the city requires a significant number of new homes to meet the needs of its growing population and support its economic growth agenda.
“It is vital that Birmingham remains attractive to inward investors by providing the right workspace as well as the homes and quality of life.
“We have a healthy pipeline of office development in the city centre and the significant commitments at Arena Central, Paradise, Three Snowhill and 103 Colmore Row are hugely important.
“What we also need to see is investment in residential schemes and the Council is looking to support those developments that help achieve our aspirations and deliver the high quality environments for our growing population.”
A detailed planning application for the Great Charles Street site is expected to be submitted by the end of this year, following a further public consultation process.
James Howarth, managing director of Sterling Property Ventures, said:
“We are thrilled to have finally agreed the acquisition of the Great Charles Street site.
“Our new plans for the scheme have been evolved over the past few months and we look forward to unveiling them in the Autumn.”
Sterling Property Ventures is also behind the development of 103 Colmore Row – a 26-storey 211,000 sq ft Grade A office tower on the site of the former NatWest Tower – in partnership with Rockspring Property Investment Managers.