CONDITIONAL contracts have been exchanged on the 13-acre site of a proposed new £60m retail scheme in south Birmingham.
Helical Retail, a joint venture comprising Solihull firm Oswin Developments and London-based investor and developer Helical Bar, is aiming to buy the Eaton Electric site in Tyseley.
They are hoping to redevelop the Reddings Lane locale into an Asda supermarket and retail park.
The proposal is part of a wider regeneration scheme which it is intended will fund a new link road connecting Warwick Road with Olton Boulevard, acting as a catalyst to the 20-acre ‘Signal Point’ industrial and residential scheme.
Outline planning consent for up to 360,000 sq ft has already been secured on this.
Helical and Mucklow, the Halesowen-based developer and investor behind Signal Point, will be submitting a joint planning application for the combined project, which is expected to cover more than 30 acres, following a public consultation.
If the plans are given the go-ahead, Eaton will relocate as close to their current facility as possible with the firm in talks with Mucklow regarding taking space at Signal Point.
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