Plans submitted for 7.5-acre Martineau Galleries project
Hammerson, which owns and manages Bullring & Grand Central, has submitted a planning application to Birmingham City Council for the regeneration of its Martineau Galleries site.
The submitted plans look to regenerate the 7.5-acre Martineau Galleries site which includes the Square Shopping Centre, Dale End car park and 1-7 Dale End, and will create 8,000 full-time jobs on site.
Proposals include the delivery of 1,300 new homes for approximately 2,400 people, for rent and purchase, and up to 1.4m sq ft of workspace that will offer opportunities for a range of businesses, as well as a new city centre hotel, restaurants and cafes.
If approved, the proposals for the regeneration of Martineau Galleries will create high-quality public areas, including a new public square and boulevard and would eventually boost the Birmingham economy by £225m.
The Martineau Galleries project was announced by Hammerson in July 2018 and is part of the company’s City Quarters scheme, where Hammerson will transform many of its city venues beyond pure retail into successful neighbourhoods providing homes, workspace and accessible public areas.
Robin Dobson, UK Director of Development and Project Management at Hammerson commented: “Submitting our planning application for this strategic site in Birmingham represents a significant step forward for our City Quarters concept. City Quarters is all about creating thriving, mixed-use environments where people can live, work and relax in exceptional neighbourhoods, adjacent to our flagship destinations.
“Hammerson has a strong track record of delivering the places where people want to be, and this expertise will be applied to our City Quarters developments to create exciting, vibrant spaces in the UK’s very best cities.”
The company broke the news of its planning request within its half-year financial report for the period ended 30 June 2019 published today.
In the report, the firm said its revenue for the period stood at £124m – down from £152m in the same period in the previous year.
It also reported a £319m pre-tax loss; a huge drop from the £55m pre-tax profits made in 2018 as the retail sector continues to come under increased pressure.
The public consultation on the Martineau Galleries application, conducted last month, was overwhelmingly positive with 85% of consultees supportive of the regeneration plans.
When shown the design plans, 81% agreed that the designs were appealing. Over 90% stated regeneration was important to the city and would make people more likely to visit.
Work could start on the project in 2022.