Thomas Vale secures Digital Plaza contract

WORCESTERSHIRE constructor Thomas Vale has been selected by Birmingham City Council as its joint venture partner in the development of Birmingham Science Park’s new £35m Digital Plaza scheme.

The company has beaten off competition from more than 80 firms across Europe to land the prestigious contract.

An innovative funding model will enable the first Digital Plaza building – iCentrumTM – to be built speculatively, ending Birmingham’s four-year drought of speculative office development.

The Digital Plaza scheme is being financed through a Special Purpose Vehicle, which will secure the funding for the first building. The subsequent units are likely to be built-out on a pre-let basis, unless improved market conditions – or the level of success from the iCentrum building – allows for further speculative development.

The city council said the Thomas Vale funding model would enable the science park to retain full long-term control of its interests, assets and objectives.

The first building has an estimated construction cost of £7.5m and will take 12 months to complete.  

The science park’s flagship Faraday Wharf building, which was completed in 2001 will also be getting an upgrade and will be linked to iCentrum via a first floor bridge.

A detailed planning application for the 30,000 sq ft iCentrum building, together with an outline application for the rest of the 120,000 sq ft Digital Plaza development will be submitted to the council later this summer. Subject to planning approval, work will start on site before the end of 2012.

Sir Albert Bore, leader of Birmingham City Council said: “Investment into Birmingham Science Park is one of the city council’s key objectives. It is critical that we support entrepreneurial talent, diversify our economy and create new high value jobs.
 
“Now 30 years old, the park’s reputation for success is growing on an international stage, and the Digital Plaza development will ensure the innovation spotlight is shone on this city.”

David Hardman, CEO of Birmingham Science Park said: “As the economy continues the slow climb out of recession, it is tremendous news that Thomas Vale Construction’s proposals will enable us to deliver the first Digital Plaza building speculatively, while also linking with – and investing into an upgrade of – our flagship Faraday Wharf building.

“To think that work could start on site before the end of this year is very positive, as it is imperative that we meet the needs, aspirations and work patterns of the city’s rapidly growing number of talented and innovative tech entrepreneurs.”

The Digital Plaza will be one of the first buildings to be built in Birmingham’s new city centre Enterprise Zone. The move means future occupiers will benefit from measures such as superfast broadband and business rate relief.

Tony Hyde, Managing Director of Thomas Vale Construction said: “Having such deep roots with Birmingham, we are proud and excited to have been selected to deliver this partnership project.

“Teamwork, ethical delivery, innovative design, local job creation and modern methods of construction will be the key principals of the development of the Digital Plaza, which will quickly become a symbol of Birmingham’s ambitions as an entrepreneurial city.

“It will bring together agile and smart working environments with the business incubator culture that is already being developed at Birmingham Science Park.”