National property development and investment company Cole Waterhouse has acquired one of Birmingham’s most significant redevelopment opportunities in Digbeth, Birmingham. The deal marks Cole Waterhouse’s first acquisition in the city and will see £260million of investment to redevelop the site creating a new cultural, commercial and residential destination with new areas of public open space.
The developer has assembled the 3.5-acre site, which occupies a prominent position off Upper Trinity Street and Adderley Street, from five individual landowners. Cole Waterhouse is working closely with Birmingham City Council, neighbouring landowners and planning consultancy Barton Wilmore to bring forward its vision for the site. The plans are at an early stage but will help to meet urban housing need as well as providing retail and leisure opportunities including event, work and creative spaces.
Damian Flood, CEO at Cole Waterhouse, commented: “Digbeth is an area steeped in culture, character and history. We are working closely with the Council and Digbeth’s existing community to create a scheme that enhances its surroundings in the spirit of Digbeth and builds on the success of existing redevelopments in the area, notably The Custard Factory. We have spent the last year and a half understanding Digbeth, its community and culture, and we are incredibly excited about what we can deliver here.
“We are passionate about identity placemaking and will be bringing some of the key lessons we have learnt from schemes around the world to Digbeth. With contracts now exchanged we look forward to sharing our plans with stakeholders and the public at an exhibition early in the new year before submitting a full planning application in Spring 2020.
“We are also working alongside other Digbeth stakeholders to unlock the potential of the proposed Skyline which will enhance our plans and offer Birmingham a potential world class public space.”
Cole Waterhouse has a strong track record across the UK of successfully unlocking opportunity, growth and value. It places collaboration and placemaking at the heart of its projects leaving long-lasting and positive legacies.