A new £260 million mixed-use regeneration scheme in Digbeth has taken a key step forward after the developer behind the project acquired the land.
Manchester-based Cole Waterhouse has bought the five-acre site for its project in Upper Trinity Street after entering an agreement with funder Ingenious to secure the land from multiple private owners.
The masterplan for the site, which was consented last year, comprises 943 new residential units, public realm, a skypark on Duddeston Viaduct and the retention of the historic lock keepers cottage.
Deals have already been struck for a new Museum of Youth Culture, Birmingham Music Archive and the relocation of the Pat Benson Boxing Academy from elsewhere in Digbeth.
Designed by Corstorphine & Wright, the project will also have a 133-bedroom hotel, 60,000 sq ft of flexible commercial space and car parking.
The site is currently occupied by low-rise industrial buildings which will be demolished to make way for the new scheme.
The development is expected to create 600 jobs during the construction phase, deliver £229.5 million to the local economy and will create up to 313 additional jobs once built, according to Cole Waterhouse.
Chief executive Damian Flood said: "With the land now successfully acquired, we look forward to the delivery of this major mixed-use scheme. Over the course of the next few months, we will be tendering the construction contract for phase one and aim to start on site by quarter three next year.
"We will also be appointing a real estate adviser to support us with marketing the residential offer both locally and internationally.
"There has been a huge collaborative effort from the stakeholders, including the city council, the local community of Digbeth, the Canal & River Trust and our project team, and I would like to thank everyone for supporting our vision and for their unwavering commitment to the delivery of Upper Trinity Street."
Simon Delahunty, assistant director of development planning and development at Birmingham City Council, added: "This announcement is very welcome news for the city of Birmingham.
"We look forward to seeing their plans emerge and to witness the transformation of this area of Digbeth with investment for new homes, spaces for people to enjoy and places for people to work."
READ NEXT:
