Birmingham City Council and Advantage West Midlands have reached an outline deal to invest £50m in shaking up the road complex to the east of Birmingham’s Bull Ring retail area, known as Masshouse Circus.
The centrepiece would be a £113m development known as Millennium Point, offering visitor attractions and technology-based education. A canalside development with restaurants and leisure facilities are proposed. It falls outside the £1.5bn city centre regeneration effort designed to provide a please where people choose, rather than are forced, to work, live and shop. Developers are due to begin the redevelopment of Birmingham’s Bull Ring in September, which is central to the city’s re-birth plans.
Argent is putting the finishing touches to Bridleyplace on Broad Street, a 130,060 sq m (£1.4m sq ft) development. The Birmingham Alliance, a joint venture between Land Securities, Hammerson and Henderson Investors, is moving shops and stallholders in the Bull Ring to purpose-built premises, replacing them with big retailers such as Selfridges. It is also investing £450m into developing Martineau Place and the Martineau Galleries.
Financial Times 03/05/00 page 7
