Housebuilders looking to exploit the trend towards city centre living are set to transform Brindley Loop – a rundown canalside area in Birmingham next to Argent’s Brindleyplace.
Crosby Homes is believed to have paid Bass Leisure Retail over £809,400 per ha (£2m per acre) for a former factory and public house at 28 – 37 Sheepcote Street.
It is planning a 8,825 sq m (95,000 sq ft) scheme made up of 90 residential units, of one, two and three bedrooms and associated licensed and leisure uses with in mind. Crosby has already developed the residential element of Brindleyplace, known as Symphony Court.
Nearby, at Nos 24-26 Sheepcote Street, local developer Midland & City Developments is set to make its debut in the city centre with a similar sized residential scheme on a 0.5ha (1.2 acre) site bought from the King Edward School Foundation.
Both developers are currently working up detailed planning applications.
Earlier in the year, Cala Homes bought the Roundhouse, also on Sheepcote Street, where it is planning to build some 29 apartments.
Philip King, director in charge of agency at Chesterton which advises the school, said all three sites benefited from having frontages on to the canal: “This is the next prime residential development set to be done in Birmingham and will open up further residential opportunities in the city centre.”
Knight Frank advised Bass Leisure Retail, while Robert Powell advised Crosby Homes.
EGi News 21/07/99
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