Plans for £350 million Birmingham development revealed – commercial mortgages

24 November 2006

Development Securities and Grainger Trust have announced that the two firms will be undertaking a joint-project to develop commercial and residential property in the Eastside area of Birmingham.

The project, which may benefit investors with commercial mortgages, has an estimated gross development value of £350 million and is expected to see the construction of 1.4 million sq ft of property, including office accommodation, retail space, a hotel and residential property.

Commenting on the acquisition of the Curzon Park site, Julian Barwick, joint-managing director of Development Securities, said that the firm was "delighted" to have purchased the site.

"We are also looking forward to working jointly alongside Birmingham City council on our proposals, which will deliver outstanding benefits for the local community," he stated.

Development Securities recently announced its plans to undertake an urban regeneration project, in Southampton to include the development of office space, a casino and retail properties.