SevenCapital given go ahead for 17-storey Birmingham apartment complex
SevenCapital has been given the go ahead to develop a new 17-storey residential scheme in Birmingham city centre, adjacent to its existing Park Regis Hotel development.
This is the latest in a line of residential schemes run by the developer in Birmingham since it launched less than ten years ago and will take the total volume of SevenCapital’s current approved or completed development activity in the city to more than 1.85 million square feet.
Comprising a mix of one, two and three-bedroom apartments – 228 in total – and six ground floor retail units, the £60million development is the second phase of the regeneration of the former Five Ways Shopping Centre site and is integral to SevenCapital’s wider regeneration activity in the area, which now extends to approximately one million square feet.
Plans for the new development site, which is currently used as the hotel car park, also include a rooftop courtyard area, along with 115 replacement parking spaces for hotel guests, and a further 37 car and 284 cycle parking spaces reserved for residential use.
Phil Carlin, managing director at SevenCapital said:
“We are delighted to have secured planning permission for this new development, which forms the final piece of the jigsaw for our wider redevelopment of the Five Ways area of Birmingham.
“This new scheme brings the total value of our regeneration activity in that area to circa £250million. This includes a total of 919 apartments, a new 4* star hotel and the revitalisation of the former Tesco unit into new office space, which we are successfully leasing. This stands as a significant investment and demonstrates our commitment to Birmingham and its continued development as a world-class city.”
Development work will begin in early 2018 and is expected to complete 2 years later.
To make an enquiry with SevenCapital please call 0121 233 4433 or email [email protected].
For more information on SevenCapital visit www.sevencapital.com.