Sustainable developer has plans to create nearly 1,000 homes
LCR Property, the government’s placemaking expert has brought forward plans for a residential scheme of nearly 1,000 new homes.
The commercial developer and sustainable regeneration company has a pre-application engagement with Birmingham City Council for the residential development plans.
An existing 240,000 sq ft building lies on four acres and detailed planning consent has also been given for two new office buildings designed by Fletcher Priest Architects, namely One and Four Axis Square which comprise 210,000 sq ft (NIA) and 200,000 sq ft (NIA) respectively.
LCR has secured the rights to the vacant possession of the building so it can begin demolition works in April.
Ray Willis, regional director at LCR, said: “This site coming to market signals a major milestone for one of the city’s most exciting projects.
Once complete, Axis will support Birmingham City Council’s strategic ambitions and make progress towards its ‘Our Future City Plan’. Like the Council, we’re committed to enabling the redevelopment of Axis Square which will deliver public value for years to come.”
The council’s ‘Our Future City Plan’ outlines the vision for Birmingham up to 2040, with an aim to drive investment into homes, infrastructure and commercial space.
Last year LCR launched a strategy where it will create development and regeneration opportunities in conjunction with developers, housing authorities, government agencies and transport authorities.
Wholly owned by the UK Government, LCR has delivered major transport-linked regeneration schemes, including the multi-billion-pound redevelopments of King’s Cross and Stratford City.
Michael Maguire, mixed-use development at Savills, said: “The site represents a significant opportunity to create an exemplar development of scale in a prime City Centre location, with the benefit of two detailed planning consents for One and Four Axis Square and positive pre-application advice for a residential-led development.
Savills has been appointed to market the freehold interest on an unconditional basis and advise on the land disposal process.
