Public consultation set for up to 50-storey flagship development
A public consultation will begin on plans for a mixed-use development of up to 50 stories in the Gun Quarter of Birmingham.
Shariah-compliant property developer Sama Investments bought 1 Lancaster Circus from Birmingham City Council at the end of 2022, after the building was deemed as surplus to required office space.
It proposes to transform the 1.33-acre gateway site into its flagship scheme ‘Perryian Works’ to create a “memorable place to live, work, stay, study and visit”.
1 Lancaster Circus was previously home to the famous, but now defunct, Perry & Co, where pens, chains and bicycles were all produced and sold worldwide.
A £500m equity injection was secured from the Far East by Sama in March, which will support the delivery of purpose-built student accommodation (PBSA) and residential schemes across Birmingham and the West Midlands.
Plans were unveiled for the site last April with initial proposals for a 64-storey tower and now the public can visit an exhibition event on May 9 at Aston Conferences from 10am – 4pm.
Sama’s partners on the scheme include Stride Treglow and Plan Associates.
The consultation follows the creation of the group’s corporate advisory business, Sama Capital.
Kazi Hussain has been appointed managing director to spearhead the new firm alongside founding partners which include Bilal Ahmed, Executive Chairman, and Paul Squire, CEO and the former CEO of Al Rayan Bank in the UK, Sultan Choudhury.
Based in Birmingham and London, the business will offer corporate, real estate, and private debt advice, as well as help clients understand and access Islamic finance.
