Paradise Birmingham Development

Paradise Birmingham, One and Two Chamberlain Square, Argent Development, Design

Paradise Birmingham Development

One and Two Chamberlain Square, The Midlands, England, UK – design by Eric Parry Architects

13 May 2014

Paradise Speculative Office Development

Design: Eric Parry Architects

Paradise – Planning Permission Granted For First Two Buildings and Public Realm

17 September 2015 – Planning consent has today been secured for the first three planning applications at Birmingham’s transformational Paradise scheme – a landmark stage in the delivery of one the UK’s most important city centre developments. The planning approval brings over 350,000 sq ft of speculative office development to the market.

Birmingham councillors have given their seal of approval for proposals submitted by Paradise development manager Argent, on behalf of Hermes Investment Management. The plans are for two new world-class office buildings, One and Two Chamberlain Square, along with the major enhancement of public space in Chamberlain Square – which together represent the first phase of the £500 million Paradise project.

Paradise Birmingham Development:
Paradise Birmingham One & Two Chamberlain Square

With the external demolition of existing buildings including the old Central Library and the Paradise Forum shopping centre set to start within weeks, construction on One Chamberlain Square will begin in Spring 2016. This will be followed by Two Chamberlain Square in Autumn 2016, with the refurbishment of Chamberlain Square also being implemented during this period. Practical completion of this first phase is scheduled for the end of 2018.

Senior projects director of Argent, Rob Groves, said: “Now we have the City’s permission, we will move forward on delivering these two exceptional office buildings and public space enhancements and bring our plans to create this prestigious business address at the civic heart of Birmingham into reality. As well as the two new office buildings, the attractive wide streets and squares will enhance the remarkable historic setting, which has one of the UK’s finest collections of Victorian civic buildings.”

Chris Taylor, Chief Executive of Hermes Real Estate, commented: “Our investment in Paradise, as one of the biggest development schemes Birmingham has seen in a generation, reflects our confidence in Birmingham as a leading business destination. This approval will now enable us to deliver the world-class office accommodation the city needs to cement its position with high profile occupiers on the global stage. This new office space is being supported by the comprehensive placemaking and public realm work we are delivering in partnership with Birmingham City Council to ensure Paradise contributes to the socio-economic well-being of everyone living and working in Birmingham.”

Birmingham City Council leader Sir Albert Bore added: “As the city sees an unprecedented amount of construction projects and celebrates a series of major transformational events, including the opening of the multi-million pound New Street Station and Grand Central, in a month we have labelled ‘Super September’, Paradise further consolidates Birmingham’s position as a city that is on the up, attracting investment from some of the world’s biggest firms, creating jobs and enjoying more growth and prosperity.”

Paradise Birmingham plans – One Chamberlain Square & Two Chamberlain Square:
Paradise Birmingham Development plans

Designed by Eric Parry Architects, One Chamberlain Square will be an elegant, curved, seven-storey building bounded by Centenary Way, Congreve Street and Chamberlain Square. 172,000 sq ft of office space, including a large roof terrace at the sixth floor level, will be delivered along with restaurant and retail uses on the ground floor.

The adjacent, seven-storey Two Chamberlain Square has designed by Glenn Howells Architects which oversaw the masterplanning for the full Paradise development. The building will complement the historic setting, with a five-storey portico fronting onto Chamberlain Square and stepping back at the sixth floor with a roof terrace. Ground and upper ground levels will again offer space for restaurant and retail uses.

Grant Associates Landscape Architects is overseeing a dramatic refurbishment of Chamberlain Square, which include includes a new, wide pedestrian street through the centre of the development, linking the upgraded Chamberlain Square to Centenary Square.

When complete, Paradise will comprise 1.8 million square feet of offices, shops, cafes, restaurants and a hotel in up to ten buildings, all set within public realm of the highest quality in Birmingham’s civic and historical centre. Bringing thousands of new jobs to the city, it will also deliver economic, physical and social benefits.

The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council, with the private sector funding being managed by Hermes Investment Management with Argent acting as development manager. The enabling and infrastructure works, currently underway, have been funded through an approved £61m investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP).

For more details on Paradise visit: www.paradisebirmingham.co.uk

The planning consultant for Phase One is Deloitte Real Estate. Letting agents for One and Two Chamberlain Square are Bilfinger GVA and CBRE.

Chamberlain Square, Birmingham:
Chamberlain Square, Birmingham

Hermes Investment Management

Hermes is focused on delivering superior, sustainable, risk adjusted returns for our clients – responsibly.

Hermes manages assets on behalf of more than 200 clients* across equities, fixed income, alternatives and real estate, with £29.8 billion* assets under management. In Hermes EOS, we have the industry’s leading engagement resource, advising on more than £115.7 billion* of assets.

We believe in Excellence, Responsibility and Innovation
• Excellence: We aspire to excellence in everything we do. This manifests itself most visibly in our investment performance. We will only offer products to our clients where we believe there is a strong investment thesis and where we can deliver sustainable alpha.

• Responsibility: We believe it is our responsibility to lead discussion and debate about the fiduciary responsibilities of fund managers to our clients, their stakeholders and, ultimately, society at large. We have always sought positive engagement with the firms in which we invest.

• Innovation: We have the entrepreneurial culture to identify forward-looking products that meet those needs, along with the resources and speed-to-market mentality to develop them rapidly.

Our structure gives clients globally the benefit of access to a broad range of specialist, high conviction investment teams operating within an established and robust operating platform.
Hermes’ investment solutions include:

• Private markets – International real estate, pooled funds, segregated mandates, UK commercial real estate, UK commercial real estate debt, UK private rental sector real estate, infrastructure and private equity
• High active share equities – Asia, global emerging markets, Europe, global, and small and mid cap
• Specialist fixed income – Absolute return credit, global high yield bonds, multi strategy credit, UK government bonds, and UK and global inflation-linked bonds
• Multi asset – Multi asset inflation
• Responsible investment services – Corporate engagement, intelligent voting and public policy engagement
*Please note the total AuM figure includes £3.7bn of assets managed or under an advisory agreement by Hermes GPE LLP (“HGPE”), a joint venture between Hermes Fund Managers Limited (“HFM”) and GPE Partner Limited. HGPE is an independent entity and not part of the Hermes group. £0.2bn of total group AuM figure represents HFM mandates under advice. Source: Hermes as at 30 June 2015 with exception of four portfolios totalling £0.8bn/€1.1bn/US$1.2bn/A$1.6bn dated as at 31 May 2015.

Paradise Birmingham public realm:
Paradise Birmingham Development

Argent

Argent is one of the UK’s best respected property development companies.

Argent developed and managed Brindleyplace which offers more than 1.1 million sq ft of office space, 30 restaurants, bars and cafés as well as leisure and recreational facilities. Brindleyplace is internationally recognised as an award winning benchmark for urban regeneration and has been responsible for leading the way in Birmingham’s continued transformation.

The Argent team – now restructured as a Partnership – has been developing for 30 years. Argent has built a strong track record in mixed use developments that combine office, residential, retail, leisure, hotels, cafés, restaurants and managed open space; and has become a leading practitioner of city centre regeneration. It aims to be the most respected and successful developer in the UK.

Argent focuses on just a few, exceptional schemes at any one time, working with landowners and other partners. In addition to the eight million sq ft emerging at King’s Cross in London, Argent’s CV includes the rejuvenation of Piccadilly (One Piccadilly Gardens, Piccadilly Place, The Hub, The Hive) and One St Peter’s Square in Manchester; Brindleyplace and Paradise Circus in Birmingham; the redevelopment of brownfield sites in the Thames Valley; and major commercial developments in the City of London.

Paradise Birmingham Development image / information received 170915

Eric Parry Architects Office

For further information visit: www.argentllp.co.uk


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