The Edgbaston Renaissance
RICS - May 2006
Birmingham’s urban renaissance has seen the city evolve into a vibrant and thriving international destination, which is being driven forward by developers keen to progress its growth potential. At the forefront of this regeneration is the £337 million development portfolio of landowners Calthorpe Estates in Edgbaston.
The property investment and development business is committed to playing an active role in the rebirth of the area and focuses on the prestigious 610 hectare Calthorpe Estate. Their portfolio boasts four key regeneration projects, which aim to create the best place to live and work.
The flagship University Science Park, Pebble Mill development will soon enhance the region’s capacity for innovation, creativity and enterprise and build on the West Midlands’ international reputation for excellence in the life sciences field.
The science park will create 12 acres of world class research and development facilities at the former BBC site at Pebble Mill.
The scheme, which lies within the Central Technology Belt, will become a true centre of excellence, helping to cultivate advances in the Biomedical industry due to its proximity to two of the UK’s leading institutions - the University of Birmingham and Aston University.
Pivotal to the growth strategy of the region, the science park will have a significant impact on the regeneration of the area, developing a new sustainable skills base and creating an estimated 1500 new jobs.
Work on the infrastructure has commenced and final completion is estimated for 2012. The £90 million scheme is being developed in partnership with Advantage West Midlands, Birmingham City Council, the University of Birmingham and the Central Technology Belt.
Moving closer to the city centre, significant changes are set to take place at Five Ways with the regeneration of this principal gateway.
Planning consent has been granted for the major £110 million redevelopment of Edgbaston Shopping Centre to create Edgbaston Galleries, an attractive destination for Birmingham with much needed facilities for the area.
The existing site will be replaced with an improved layout, modern buildings and an increased amount of public space, creating an appealing location for work and leisure.
The 40,000 sq m development will incorporate office, retail and leisure space, as well as hotels and car parking spaces.
Calthorpe Estates is working with Birmingham City Council to ensure the development complements other proposed improvements to the area.
Also at Five Ways, the new £37 million Calthorpe House is set to herald a new future for commercial office space in Birmingham with the development of a contemporary new scheme.
The 9,530 sq m state of the art Grade A offices will set the standard for sustainable office accommodation within the city, aiming to achieve a BREEAM rating of ‘excellent’, reflecting the project’s emphasis on build quality, energy performance and environmental impact.
The development represents an ideal solution for businesses seeking high quality office space in the city’s central core and will undoubtedly draw the best employers to the area.
Calthorpe House will offer fully air-conditioned large open floor plates of 2,062 sq m and the coveted luxury of on-site parking with 257 spaces - a ratio of 1:35 sq m compared to that of Grade A office space in the city at 1:140 sq m.
Demolition is scheduled to commence on site this Autumn, with the project due to complete in 2008.
The most active of the schemes is Edgbaston Mill, a prestigious nine-acre mixed-use scheme which will offer the best of both worlds, with city centre living in a suburban environment.
Boasting 20,000 sq m of residential space, 2,650 sq m of retail and A3 space, 5,600 sq m of office space, 3,000 sq m of leisure facilities and 5,600 sq m of potential hotel space, the £100 million development will become an elegant and sought-after location, just a mile out of the central core of the city.
A stunning artistic piazza, approximately the same scale as Victoria Square in the city centre, will front the scheme, which is due to complete in 2008 and will provide a large area of coveted public space in Birmingham.