A prime site in Birmingham’s Southside district has been sold, paving the way for a major new development of student accommodation and retail space.
Developer Bricks Birmingham Capital has completed the purchase of the land and buildings at the junction of Upper Dean Street and Pershore Street, near The Arcadian and the Bullring, from vendors Benacre Newco 1 and the Gooch Estate Trustees, for an undisclosed sum.
The site already has planning consent for a mixed-use development including 323 student bedrooms and communal facilities, and five ground floor shops totalling 7,530 sq ft.
The 10-storey scheme will involve the retention of the façade of a Grade II listed building at 42-45 Upper Dean Street as the main entrance into the student block. Construction is expected to start next Easter, with completion ahead of the new student year in September 2018.
Charles Gillett, partner at Pennycuick Collins which advised the vendors, said the project – near the soon-to-be-demolished wholesale markets – could kick-start the next wave of development in the Southside area.
“This is a prime site that sits within the proposed Birmingham Smithfield masterplan area and a scheme of this quality fits into the aspirations of that project,” he said.
The Gooch Estate is expected to take a long leasehold on the shops to continue to generate income from the site.
Law firm Emms Gilmore Liberson also advised the vendors on the sale.
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