Value: £150 million Exchange Square 2, Birmingham
Exchange Square Phase 2, Birmingham
Phase 2 of Exchange Square, in Birmingham City Centre, is the final phase of Nikal’s £350m Masshouse project.
Planning consent is in place for 223 apartments (secured 2016). Nikal has revised its proposals and submitted a planning application for an exciting new scheme, designed by twice Sterling Prize shortlisted architects, Stephenson Studio.
A deal has been agreed with Grainger PLC, the UK’s largest listed residential landlord and leader in the UK private rented sector (PRS), to forward fund and acquire 373 apartments at Exchange Square Phase 2 for £77million.
Nikal has also reached an agreement with Whitbread to create a 223-bed Premier Inn Hotel and 6,000 sq ft Bar + Block restaurant on the site.
Says Nikal MD, Nick Payne, “Our thinking around the revised proposals for Phase 2 Exchange Square are inspired by a desire to produce a landmark development suited to the evolving Birmingham skyline and the development’s important location opposite Birmingham Curzon HS2.
“We also want to produce a scheme that will complement the three residential towers under construction as part of the new urban village at Phase 1 Exchange Square, the tallest of which is 27-storeys. ,” he added.
Work on Phase 1 Exchange Square is currently underway with the first of the buildings scheduled for handover in January 2019.
**Note – Images are conceptual only and do not reflect the content of any planning submission that has or will be made for Phase 2 of Exchange Square **