Nikal has secured planning consent for the second phase of its Exchange Square residential development in Birmingham.
Birmingham City Council has granted consent for 223 new flats and a new public square that will form the heart of the scheme, which will be flanked by bars, restaurants and cafés.
The new Stephenson Studio-designed buildings will have seven and 14 floors and feature a mix of studio, one-, two- and three-bedroom flats, designed by renowned architectural practice, Stephenson Studio. Plans also include 22,570 sq ft of space for commercial use on the ground and lower-ground floors.
The new square will have access to the existing McLaren office building. Connectivity between Moor Street and Priory Queensway will also be significantly improved, reinforcing connections between the city centre and the Eastside regeneration area where the HS2 terminus will be cited.
Nikal now has consent to deliver a total of 826 flats on the site, following the approval last month of the first phase of the development incorporating three residential buildings and a 5,000 sq ft residents’ hub.
The development’s first phase, which is being funded through a deal secured with LaSalle Investment Management for more than £100m, is due to begin on site in the summer, with the first block completed in 2018. Work is due to start on the second phase in 2017.
Knight Frank and Savills are joint sales agents on the scheme; Savills also advised on planning matters.
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