黑洞社区

Developers Ballymore and Sterling Property Venture are gearing up to start construction on three major office schemes in Birmingham city centre this year, it has emerged, writes Tim Clark.

The two developers told 黑洞社区 this week they are preparing to green-light office schemes in the Snow Hill area of the city.

Ballymore is planning to start construction on the speculative 200,000ft2 Snow Hill 3 scheme by this August, while Sterling Property Venture is planning a speculative start on its 35-storey 103 Colmore Row office building by the end of the year, and 鈥渃ould start tomorrow鈥� on its 240,000ft2 Lumina 黑洞社区, although this scheme is subject to securing a pre-let.

The news comes after Birmingham city council last week unveiled a 20-year masterplan for Snow Hill (pictured), with 拢600m of development opportunities and the aim of rivalling London with its own 鈥淐anary Wharf of the West Midlands鈥�.

Developers are starting to bring forward schemes in Birmingham, encouraged by progress on HS2 and the general upswing in office moves.

CBRE鈥檚 senior director on planning and development for the Midlands Gary Cardin said a lack of office space will lead to more projects getting under way this year: 鈥淭here is a shortage of grade A office space available and the next wave of offices need to be underway soon, otherwise we鈥檒l miss this opportunity in the economic cycle.

鈥淚t鈥檚 a little difficult to estimate when any schemes will break ground but I鈥檇 expect a few to be in the pipeline this year. There are a number of big requirements floating around, from 300,000 - 350,000ft2, and we need more buildings and locations to accommodate these potential lettings.鈥�

Richard Probert, senior development manager at Ballymore Properties, said the client was in discussions 鈥渨ith a number of shortlisted contractors鈥� with regard to building Snow Hill 3, with a winner expected to be announced
in the Spring.

Sterling Property Venture鈥檚 managing director James Howarth said: 鈥淏irmingham are doing a good job of positioning themselves as an alternative to London more effectively than before.

鈥淲e could start work on the Lumina building tomorrow; it鈥檚 ready to go. We expect to start on 103 Colmore Street this year subject to planning approval being granted.鈥�