Goodman starts speculative construction of first office phase at Eastside Locks
Global integrated property group, Goodman today announces that it has commenced development of the first new office building at Birmingham’s vibrant new Eastside regeneration quarter, representing the first speculative office project in the city since early 2007.
Goodman began construction last week of a 55,000 sq ft four storey office scheme, with basement parking for 29 cars and 26 bicycles, at 1 Cardigan Street, Eastside Locks, after receiving detailed planning consent from Birmingham City Council.
On completion, the new office scheme at Eastside Locks will offer stunning flexible Grade A accommodation suitable for the modern demands of a range of customers. The interior design and surrounding landscaping will complement its urban setting, with the use of natural materials where possible.
Eastside Locks is a major mixed-use development in the Eastside area of Birmingham, part of which has been designated as an Enterprise Zone by the Government to promote economic growth, supported by the Greater Birmingham and Solihull Local Enterprise Partnership. The site has a long history, with significant investment of around £40m having been made over recent years from public bodies, including the Homes and Communities Agency (HCA). Its position alongside the new proposed HS2 station presents huge potential for the partners involved and Goodman has commenced the construction of site wide infrastructure earlier this year, kick starting the regeneration of this important site.
Eastside, which is the home of Millennium Point and Birmingham City University, is exceptionally well connected to the city core via Eastside City Park and is set to become a truly multi-modal destination. The area is quickly becoming the heart of Birmingham’s learning and business quarter. Further investment is being attracted from the likes of the Birmingham Conservatoire and businesses seeking to engage with, and work alongside, the University to capture and nurture the local home grown talent within a burgeoning engineering, ICT and gaming sector.
The latest development is the first phase of up to 800,000 sq ft of offices, which will all be situated within a landscaped and managed environment alongside the Digbeth branch of the Birmingham and Fazeley Canal. The location offers a premium environment at a discount to City Core rents in the UK’s second city.
James Raven, Development Director, UK Business Parks Goodman, said:
“It’s a very exciting time for the city of Birmingham. With HS2 work scheduled to begin in 2017, the on-going regeneration of New Street Station and the hugely increased connectivity of Eastside, the potential of Greater Birmingham and, in particular, Eastside is huge and something that we are proud to be at the heart of.
“We are delighted to be working with our partners, Birmingham City Council and the HCA to be bringing forward this significant project. We already have strong interest in this scheme and securing a customer during the initial stages of construction, would enable us to commit early to the next phase of development.”
Eastside Locks is within walking distance of New Street, Moor Street and Snow Hill rail stations, as well as the proposed HS2 link in Birmingham. It also provides easy access to the M6 motorway, cementing its convenience for commuters.
The office scheme, in partnership with Birmingham City Council and the HCA will host a vibrant working environment in the heart of Eastside, close to all of the shops, restaurants, bars and amenities that the city centre has to offer.
Councillor Tahir Ali, Cabinet Member for Development, Transport and the Economy at Birmingham City Council, said:
“Eastside Locks is a significant investment in Birmingham and the West Midlands economy, facilitating the growth of local organisations as well as attracting inward investment to the region.
It has first-class transport links with a major international airport, mainline railway station and the region’s motorway network, which are all easily accessible, making Birmingham city centre the ideal business hub.”
Building works are due to complete in 2016.