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CBRE : Duo tasked with selling Paradise to the world ; COMMERCIAL PROPERTY

05/01/2014 | 02:10am US/Eastern

ABRACE of property agencies have been tasked with sourcing occupiers for the first phase of the new Paradise Circus development in Birmingham city centre.

The city's offices of GVA and CBRE will act as joint agents with construction due to begin later in 2014.

Paradise Circus will eventually comprise circa 1.8 million sq ft of offices, shops, leisure, cultural and civic amenities together with a new hotel.

Up to ten buildings will be set within a new public space on the 17-acre site between Chamberlain Square and Centenary Square.

Ian Stringer, regional senior director of GVA, said: "I have been personally involved with the Paradise Circus project since its conception so it's very pleasing to be given the opportunity to see it through to completion.

The setting, quality and accessibility of the development will have great appeal to investors and potential occupiers - regionally, nationally and internationally.

"I am looking forward to contributing to the scheme's development and to locating a complementary mix of occupiers, hopefully to include significant new ones for Birmingham."

Martin Guest, managing director of the Birmingham office of CBRE, added: "The new site layout, with improved pedestrian access, will enhance connectivity and create a link between the traditional office core of the Colmore Business District and Brindleyplace."

Grant Associates were announced as the landscape architects for the scheme at this year's MIPIM conference in France when it was also revealed there would be an architecture competition held for the project's first building.

Birmingham-based architecture firm Glenn Howells, the site's masterplanner, was also named as the designer of the second building in the scheme.

Chris Taylor, chief executive of Hermes Real Estate which is jointly managing the project, said: "There is a looming shortage of sustainable grade A office space in the city that Paradise will, with the capable assistance of these agents, help in meeting future demand."

Rob Groves, senior project director at Argent which is leading the design and delivery of the site works, added: "We believe the huge investment currently being delivered in the city, combined with the redevelopment of Paradise Circus, will be a major draw in attracting new investors and occupiers in to the city centre. GVA and CBRE, with their national and international connections, will help bring that to fruition."

(c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

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