Contracts exchanged on vacant city centre sites for £300m mixed-use schemes
Listed developer Berkeley Group has exchanged contracts on two vacant sites in Birmingham with plans to invest £300m in building major mixed-use schemes including what will be one of the city’s tallest residential towers.
St Joseph, a Berkeley Group subsidiary, has acquired a site at Eastside Locks to the east of the city centre, close to the coming HS2 station and Birmingham’s knowledge quarter, while St Edward, a joint venture between Berkeley Group and Prudential, has announced its first foray into the city with the acquisition of the Snow Hill Queensway site for a residential tower.
Homes for up to 2,000 people are set to be built across the two developments, alongside a mix of new shops, cafes, offices and inviting public spaces.
Planned investment for Eastside Locks will be around £200m while £100m is set to be pumped into the Snow Hill Queensway site.
St Joseph will also develop its new regional head office at the Eastside Locks site. Once complete, the company will move here from its current home in the city.
The announcements follow the recent launch of St Joseph’s first Birmingham based development, Snow Hill Wharf, where the first of 404 new homes are now on sale.
Berkeley Group chairman, Tony Pidgley, said: “In partnership with Birmingham City Council, we will transform these long vacant sites into thriving communities with the new homes, jobs and amenities local people need.
“The council has real commitment and vision to create homes and communities for its people. It’s a fantastic city and a great place to do business.
“We have ambitious, long term plans for Birmingham and these sites will be followed by many others in the years to come.”
Leader of Birmingham City Council, Cllr Ian Ward, said: “The sheer scale of this major investment from the Berkeley Group is a huge vote of confidence in Birmingham’s future and further enhances our growing reputation as the place to invest and to relocate.
“The quality developments at Eastside Locks and Snow Hill Wharf are the next exciting chapters in the ongoing transformation of Birmingham city centre – a transformation that is creating jobs and opportunities for people across the city.”
