Developer secures permission for £60m city centre residential scheme

Developer SevenCapital has been given the go ahead to develop a new 17-storey apartment scheme in Birmingham city centre.

Proposals for the new £60m development, adjacent to the firm’s existing Park Regis Hotel, were approved by the city’s planning committee.

The plans are the latest in a series of residential schemes implemented by the developer in Birmingham since it launched less than ten years ago. It takes the total volume of SevenCapital’s current approved or completed development activity in the city to more than 1.85 million sq ft.

The latest development will comprise a mix of one, two and three-bedroom apartments – 228 in total – and six ground floor retail units.

The scheme forms 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 sq ft.

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 £250m. This includes a total of 919 apartments, a new four-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 two years later.