The Beetham Organization is making its first expedition outside Liverpool. The urban regeneration specialist has purchased a site in central Birmingham, where it will build a 25-storey residential tower with 160 apartments and 557 sq m (6,000 sq ft) of commercial space on the ground floor.
Beetham has exchanged contracts for the site, believed to be on Smallbrook Queensway, on the edge of the city centre. However, the firm would not comment on any aspect of its plans for the £100m scheme.
Meanwhile, in its home town of Liverpool, Beetham is reviewing its plans for the city’s tallest building. Proposals for a £35m 32-storey building on the former St Paul’s Eye Hospital (pictured above) were due to incorporate a 150-bedroom Radisson SAS Hotel.
But John McGlashan, Beetham’s chief executive, admitted a hotel on the site overlooking the River Mersey is being reconsidered. “We may not do the hotel because of the effect it’ll have on end values, but one way or another that resi scheme will get built,” he said.
McGlashan insisted Radisson was still interested in the site. Radisson confirmed it was in discussions with Beetham but would not comment further.
Alongside this scheme situated on Old Hall Street, Beetham is speculatively building an eight-storey office, comprising 9,290 sq m (100,000 sq ft) of space. McGlashan said: “This is the last remaining site for development in Liverpool’s central business district. The scheme will have large floorplates – there are a lot of large-scale requirements around.”
A single-anchor tenant is preferred, although the developer is flexible. Rents will be around £172 to £183 per sq m (£16 to £17 per sq ft) and the scheme will have an end value of £17m. Work will start on site at the end of the year, with completion due in 2003.
EGi News 07/06/00
