Property developer Nikal has submitted a revised planning application to develop 1,000 homes at Exchange Square in Birmingham city centre.
Nikal had already been granted planning permission by the city council in 2012 for a commercially driven scheme at Exchange Square. This included 600,000 sq ft of grade A offices, ground floor retail and further space for a potential 200-bed hotel or residential element.
However, Nikal now wants to lift the limit on the amount of residential properties that can be developed from the current 150,000 sq ft to 700,000 sq ft in response to growing market demand.
Development director John Moffat said: “We are expecting a shortfall of some 80,000 homes in Birmingham over the coming years and felt that rather than being commercially driven, Exchange Square would provide the greatest benefit as a residential location.
“Our current planning consent already allows for 230 residential units. However, our hope is to develop a place that is a miniature neighbourhood in its own right. To that end, we are currently exploring the integration of a number of features that would help to create a sense of community within the development.”
