Image: TheBusinessDesk.com
Plans for the Beorma Quarter – named after the Anglo-Saxon king who gave his name to the city of Birmingham – were first mooted in 2008. However, after several delays, the development is now back on track according to the Business Desk.
Birmingham City Council approved plans for the first phase of the £150m Beorma Quarter development, funded by Salhia, one of Kuwait’s leading real estate development and investment companies.
The finished scheme will comprise offices, leisure and retail space, a hotel and public square. The centerpiece of the development will be a 27-storey tower. Phase one, which is scheduled to start in September, will include the refurbishment of the grade II-listed cold storage building on Digbeth High Street into offices with ground floor retail and restaurant space.
Image: TheBusinessDesk.com
Salhia signed an agreement with HSBC in January to fund the first phase, with the bank providing more than £10m. Aziz AlNafisi, investment group head at Salhia, said: “I’m confident that we’ll be in a position to start on site come the Autumn.”
“Salhia is investing in the city as much as it is investing in the Beorma Quarter. It is not simply planning to build and sell up. Salhia wants to be in Birmingham for years to come.”
What do DiG readers think of the development? Great use of a derelict site in a prime location in Digbeth, or an eyesore? Use the comments function to leave your views.
