Calthorpe Estates Reveals Plans For 2018
Following its milestone 300th anniversary year in 2017, Calthorpe Estates sets out plans that will continue to build on the thriving community in Edgbaston and create more top-class work, leisure and living spaces.
Mark Lee, Chief Executive of Calthorpe Estates, sees 2018 as a year when some of its major schemes are realised and will have a tremendous impact for the area, boosting Birmingham’s economy:
“Key regeneration schemes, like Pebble Mill, will take full shape and we will see the benefit of having a world-leading centre of medical excellence in the Midlands. This year, Bupa completes its prestigious care home and Circle Health is constructing its new private hospital that is due to open spring 2019. We intend to secure medical occupiers for the final plot, which has the potential to facilitate pioneering medical treatments and will also be developing the student accommodation, a family pub/restaurant and coffee drive-thru on the site.”
The success of Pebble Mill and Edgbaston Medical Quarter (EMQ) is attracting investment is growing Edgbaston’s medical and healthcare reputation worldwide.
Later this month, Calthorpe Estates will attend Arab Health in Dubai with an agenda to discuss future investment in the area. This is the fourth time the mission has taken place and EMQ’s involvement at Arab Health has to-date led to direct pipeline investment in Edgbaston of over £73.5 million and created 300 jobs.
It was through Arab Health that Re:Cognition Health, the brain and mind organisation specialising in cognitive impairment and mental health, became aware of Edgbaston and as a result of discussions over two years is now opening a new centre at 100 Hagley Road.
Elsewhere in the Edgbaston Medical Quarter, Mark Lee is optimistic of signing a specialist hospital group from Harley Street to operate a new 3,000 square metre clinical centre. The team is in discussion with several other highly reputed healthcare groups who have spotted the attraction of becoming part of the EMQ and will take existing premises, which Calthorpe will transform or reconfigure for medical use.
As Mark Lee explains: “The perception of Edgbaston has changed, with EMQ recognised throughout the UK and internationally, and this is attracting new investment across the Estate. We have a number of buildings, like Regency House on the Hagley Road, with potential for improvements and conversion which will be moved forward during 2018.”
New Garden Square, the £300 million mixed-use scheme planned for land stretching down from the Plough and Harrow towards Five Ways on the Hagley Road, will be a focus for progress this year. It will see detailed planning consent being secured on the first phase of development, initial demolition works completing as well as Private Rental Sector (PRS) and office investment partners being secured. This new landmark scheme is a longer term project and will be phased over several years, but will gradually meet with Calthorpe’s ambition to renew ageing office stock along one of the main arterial gateways to the City, which currently has around 40,000 vehicles passing through each day.
With the planned Metro extension and Sprint scheduled to run from 2021, Hagley Road offers tremendous potential for closer city links and Calthorpe Estates is working with Birmingham City Council on the vision for how the area could be improved to create exciting opportunities for the rapidly growing City.
Mark Lee believes in the importance of a close working relationship with the city council as Edgbaston is becoming much more recognised as part of the city offer. He said:
“Our involvement as part of Birmingham city plans is growing every year. We have ongoing planning and improvement discussions, share a stand at MIPIM and have a strong working relationship with key contacts in the city council, who care as passionately as we do about the potential here. Together we are building on the positive developments and are becoming more ambitious on schemes that meet the future requirements for Birmingham.”
One of the transformations has been the restoration of period properties that have created new commercial opportunities in Edgbaston Village. There is a conscious mix of food and beverage with retail, and this year it will see the designated leisure and lifestyle area really coming to life.
Shortly vital street and landscaping work down Greenfield Crescent will be undertaken to enhance the “village-style” setting, work to the car parks will finish and new outlets will arrive.
In early February, Loki with Anderson & Hill open a new wine, beverage and deli in Greenfield Crescent and plans have been submitted to create further space at 5-6 Greenfield Crescent. 43a Calthorpe Road that sits on the corner of Greenfield Crescent will also open up opportunities for fine dining or wider retail following on from Neptune and OKA store openings last year.
Edgbaston Village has also increased commercial office space, offering a variety of sizes with contemporary and open plan and car parking spaces. This is an exciting development and the options for new business to locate on the Estate are being transformed from those available in previous years.
Calthorpe Estates will be able to look back this time next year at some significant achievements, as Mark Lee concludes:
“Inevitably progressing property schemes takes time, but this year people will be able to witness transformation and see the outcome of plans we have worked on for some time. Changes taking place in Edgbaston Medical Quarter, Edgbaston Village and the regeneration of office stock are all gathering momentum and have come at a time when Birmingham is entering a new era and looking forward to the arrival of HS2, the Commonwealth Games and building on being a vibrant youthful city. Edgbaston will continue to play a leading part in the future development of the city as we bring forward ever more investment and growth projects.”