£30 million residential development plans approved.
Plans for two new city centre developments totalling almost £30 million have been given the go-ahead by Birmingham City Council.
Seven Capital will begin work immediately to transform a derelict plot near Broad Street to provide Granville Lofts, as well as Ridley House, a vacant site near The Cube, after councillors approved the firm’s plans yesterday. Both developments will consist of one- and two- bedroom flats and will be on sale early in 2016, with completion expected later that year.
Seven Capital has pledged to build 5,000 homes in the Midlands and, in recent months, the firm has gained a reputation as one of the most prolific investors in the region. The combined area of both schemes is 126,247 square feet, adding to the huge pipeline of developments under construction by Seven, which now extends to well in excess of one million square feet.
The approval of Granville Lofts and Ridley House follows the recent success of Bridgewater House, a development of 75 luxury apartments in Worcester, 181 flats at The Landmark at Merry Hill, as well as on-going developments at Fabrick Square, Digbeth and 1 Hagley Road.
Phil Carlin, Managing Director of Seven Capital, said: “The demand for new residential properties in the West Midlands is significant and our on-going commitment to the region addresses this. We value a strong working relationship with Birmingham City Council’s planning department and appreciate its continued support as we further add to city centre living options for the growing number of residents.
“2016 is going to be a busy year for us with around 1,500 units either completing or starting onsite across the city. We are excited about bringing all of these projects to life in the near future and doing our part to move Birmingham forward and create a world class city.”
