Bullring owner takes control of Martineau Galleries scheme
THE long-stalled Martineau Galleries scheme in central Birmingham has been taken into the full control of Bullring owner Hammerson.
The mixed-use regeneration scheme around Corporation Street and Dale End has been mooted for years but a combination of recession and other schemes such as Grand Central coming forward more quickly has left it on the shelf.
But now London-based property owner Hammerson has become the sole owner of the scheme – which promises offices, shops and homes – after completing a takeover.
It previously part-owned the site in a joint venture with Land Securities and Phoenix Group Holdings.
Hammerson said: “This acquisition will enable Hammerson to consider a number of potential strategic development opportunities in the medium term and clearly demonstrates the company’s commitment to Birmingham as a city with some of the UK’s most exciting investment prospects.”
The Martineau Galleries site includes The Square shopping centre, office blocks in Dale End, 1-7 Kings Parade in Dale End (the block including McDonalds) and Londonderry House in Priory Queensway.