Stoford brewing up for £200m Typhoo Wharf redevelopment
The £200m redevelopment of a key project in Birmingham’s Eastside has been entrusted to city-based Stoford Developments.
The Gooch Estate, owner of more than 10 acres of land in Digbeth, has selected Stoford as its development partner for a portfolio that includes Typhoo Wharf and the former Typhoo Tea building together with the adjoining canal basin.
The wharf was where tea used to arrive in Birmingham from London.
The redevelopment is key to the Eastside regeneration as Typhoo Wharf will almost immediately adjoin the new proposed HS2 Curzon Station. It has been identified as a premier strategic regeneration opportunity and key catalyst for growth within Birmingham City Council’s Big City Plan.
At least 1,000,000 sq ft of development is anticipated, which will include Grade A office space, SME business incubator space, bars and restaurants, artist studios and homes. The opportunity is expected to attract major inward investment into Digbeth and create hundreds of jobs.
A planning application will be prepared in the summer and work is due to start on site in mid-2018. Typhoo Wharf will become a destination in its own right as a mixed-use development and innovation hub. The original 1930s building will be converted and new buildings will follow on the remaining under-utilised and vacant land.
The announcement is being made to potential investors by the Midlands delegation at the international property convention MIPIM in Cannes, which starts today (Tuesday).
Jon Andrews, director at Stoford, said: “This is a very ambitious scheme that promises to set the tone for transformation of the Digbeth area of the city and we are delighted to have been selected to play a central role in delivering this important development programme.
“This strategic development opportunity is within short walking distance of Birmingham’s proposed Curzon Street HS2 railway station and adjacent to the Metro tram line extension to High Street, Deritend, which is due to open in 2023.
“This transformational infrastructure places the Gooch Estate portfolio at the heart of a programme of commercial and cultural development that will be of national and international significance.”
Waheed Nazir, strategic director, economy, at Birmingham City Council, said: “The city council sees the Digbeth area as a major regeneration zone. Located on the doorstep of HS2 and with a £724m Investment Plan, Digbeth will be set for significant transformation. This announcement is a major step forward and hugely positive.”
Liz Peace, Chair of the Curzon Delivery Board, said: “This announcement is a key step forward in realising the huge growth potential of the Curzon area and demonstrates the impact that HS2, Metro and the Curzon Investment Plan are having as catalysts for private sector investment.”
