Redefining our place Crane Survey 2019 February 2019

Contents

Contents 01 The report 02 Key findings 03 Development snapshot 04 1. Office 05 2. Hotel, retail and leisure 08 3. Residential 10 4. Student accommodation, education, health and research 13 5. Outlook 15 6. Development table 18 7. Contacts 23 Endnotes and abbreviations 24 Redefining our place|  Birmingham Crane Survey 2019

The report

What? A report that measures the volume of development taking place across , and its impact. Property types include office, retail, leisure, residential, student accommodation, education and hotels.

Where? Birmingham City Centre encompassing those areas largely within the outer ring road including parts of Eastside, Westside, Southside, Digbeth, Jewellery Quarter, and Gun Quarter.

Who? Developers building new schemes or undertaking significant refurbishment of the following: Size minimum = office – 10,000 sq ft, retail – 10,000 sq ft, residential – 25 units, education, leisure and hotel schemes – significant schemes for inclusion.

When? The report covers the period from January 2018 to December 2018. Our research for this report was undertaken in Q4 2018.

How? Our Real Estate team in Birmingham have monitored construction activity across the City Centre. Our field research is then verified with direct industry links and in-house property experts.

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Key findings

23 new starts, one less New office starts are at than in 2017, however their lowest since 2014; well above the long however 2019 is set to term average. be a record-breaking year for office completions.

Student accommodation Development pipeline construction volume has continues to grow with surged to it its highest 72 new starts over ever level, with the last three years. 2,667 bedspaces currently under construction.

1,262 Student 2018 has seen the accommodation most residential units bedspaces completed completed since 2008, in 2018; the most and a total of 5,065 units since 2010. 1,209 are currently under expected to complete construction is the in 2019 with another highest in the history of the 1,458 in 2020. Birmingham Crane Survey.

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Development snapshot

6 Office

5 Student accommodation

3 Hotels 20 Residential 2 Retail and leisure 2 Education

13 Residential 505 4 Student accommodation 23 2018 2018 survey

24 2017 2 Eduation 25 2016 183 2 Office 2008 survey 9 2015 14 2008 1 Hotels 19 Average 555 1 Retail and leisure average 20082018

Number of scheme Office space under Residential units completions 2018 construction completed 16 1,405,260 sq ft 1,696

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1. Office

The latest crane survey results show that the number Birmingham: Total office volume under construction per survey of new starts has fallen to just two new office sq ft developments from the four recorded in 2017; 1,600,000 however total office volume under construction 1,400,000 remains high at 1.4 million sq ft, consistent with 1,200,000 construction volumes in the previous two years. 1,000,000 Our research shows that speculative development has increased in 2018. Of the total space currently under 800,000 construction, approximately 33% has been pre-let 600,000 (467,260 sq ft). This suggests that whilst there may be 400,000 short-term uncertainty in the occupier market due 200,000 to Brexit, the Birmingham office market continues to 0 attract interest from occupiers. A total of 286,254 sq ft 2011 2012 2013 2017 2015 2014 2016 2018 2010 2009 of office space was completed in 2018, a figure slightly 2008 above the 10-year average; however with a number 20082018 average of large schemes expected to complete, 2019 is set to surpass this figure with a record-breaking number of Soure: Deloitte Real Estate completions expected.

Number of new office starts per Crane Survey 7 6

4

2 2 2 1 1 1 1

0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

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Following the record 2017 performance, leasing activity The need for flexibility slowed in 2018, but has remained consistent across The 2018 Crane Survey reported strong demand for each quarter in the absence of a large headline deal. serviced operators and this trend shows no sign of With the outcome of Brexit still unclear, some business letting up. Serviced office space accounted for 23% of relocation decisions have been put on hold and the take-up and has experienced unprecedented growth popularity of serviced offices and flexible letting over the past 12 months. arrangements has continued to increase. Take-up totalled 755,137 sq ft across 113 deals.1 Flexible workplace options are proving popular with office occupiers, as businesses look to reduce their The HS2 project has continued to build momentum, commitment to longer leases and remain responsive to with Birmingham becoming increasingly appealing new opportunities. to major occupiers from a range of industries from IT and tech to engineering. Businesses are looking to Birmingham: Office development pipeline sq ft strategically position themselves in order to benefit from the national infrastructure improvements. Major 900,000 lease deals in 2018 include: 800,000 700,000 •• Belmont Works, Eastside: BCU – 118,240 sq ft 600,000 500,000 •• The Mailbox: WSP – 46,100 sq ft 400,000 300,000 •• Somerset House: BE Group – 38,162 sq ft 200,000 100,000 •• Norfolk House: Secretary of State – 36,484 sq ft. 0 2011 2012 2013 2017 2015 2019 2014 2016 2018 2010 2021 2020 2009 HSBC have now taken occupancy at One Centenary 2008

Square, Arena Central, whilst Argent’s Paradise scheme Comleted Available UC Let UC Average at One and Two continues to Soure: Deloitte Real Estate progress well. Three is set to complete later in 2019 and has the potential to attract another major employer to the region.

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The volume of office space under construction As a sign of confidence in the future of the market, around the city centre remains at the highest levels work has now started at 103 . The ever seen, however the availability of Grade A space scheme is set to provide 223,000 sq ft of office is still relatively limited. With demand for city centre space, in addition to a rooftop bar and restaurant. residential space soaring in recent years, many office The development is the latest scheme to commence builds have been converted to residential schemes, speculatively, with various other large schemes in particularly in areas such as the Jewellery Quarter, the pipeline that are set to begin in 2019. Planning exerting more pressure on a constrained market. permission has been approved for the Axis Square development project. This two-phased scheme Long-term confidence remains involving the demolition of the existing Axis building In 2018 the Birmingham office market experienced high will provide an office-led development, accommodating levels of investment activity. Major deals include: over 950,000 sq ft of office space plus ground floor retail/leisure space across four buildings. •• 55 Colmore Row – acquired by The European Cities Fund for £98 million, representing a yield of 4.9% Key Statistics •• 2 Colmore Square – acquired by The Railways Pension Trusties for £95 million in a deal reflecting a Completed 2018: yield of 6.4%. 286,254 sq ft

Kier Property have acquired Arena Central New Under Construction: Developments, a joint venture led by Miller 335,000 sq ft Developments, in a deal worth £30 million. The undeveloped site comprises three plots: 150,000 sq ft Total Under Construction: at 5 ; 200,000 sq ft at 4 Arena 1,405,260 sq ft Central; and a further 200,000 sq ft at 5 Arena Central – as well as the public realm at Bank Square. Key Developments 103 Colmore Row Three Snowhill One and Two Chamberlain Square Arena Central

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2. Hotel, retail and leisure

Hotel There was just one new start in the hotel sector in o. of rooms 2018, bringing the total number of schemes under 600 construction to three which are set to deliver 443 rooms. The Royal Angus Hotel, St. Chads , 500 is undergoing a major refurbishment including a two- 400 storey extension creating 93 additional rooms. 300

Although there were no completions in 2018, delivery 200 in 2019 is expected to be strong, with the highest number of beds added in the city since 2013. Unite’s 100 hotel-led mixed-use scheme is set to complete early 0 Q1 2019, offering 170 rooms alongside new conference 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 and office space. The flagship completion for 2019 Comleted UC 20082018 average is set to be the prestigious Grand Hotel, which will provide 180 rooms. Soure: Deloitte Real Estate Looking ahead beyond 2019, development pipeline remains healthy with various plans to further increase hotel capacity within the city. This includes proposals to convert listed buildings, extend existing structures and make purpose-built units. Plans are emerging to transform the current House of Fraser store on Temple Row. The Landlord, Legal & General, has submitted a major planning application to create a 200 bedroom hotel, 365,000 sq ft of office space, 60,000 sq ft of retail space, plus an additional 33,000 sq ft of restaurants, bars and cafes.

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Retail and leisure Retail and leisure development activity remains Key Statistics subdued across the city, with only one new start in the leisure sector, the Completed 2018: extension. This development will provide a 7,265 sq ft N/A extension, comprising a new Dance Hub at the Theatre on Hurst Street. New Under Construction: Hotel: 93 Rooms Despite the absence of new retail/leisure-led schemes Retail: 0 as the retail sector undergoes structural changes, a Leisure: 7,265 sq ft large amount of new floorspace is under construction as part of residential, office and mixed-use schemes. Total Under Construction: These units are likely to accommodate food and Hotel: 443 rooms beverage operators or specialist retail, and will support Retail: 207,333 sq ft new office and residential communities. Examples Leisure: 61,015 sq ft of this include the ground floor units being delivered within the Paradise development and Exchange Square. Key Developments The Grand Hotel The only retail scheme currently under construction Primark is the new Primark store at the former Pavillions shopping centre. Delays in the 150,000 sq ft project have resulted in Primark missing out on their original completion target of Christmas 2018 and it is now expected to open in early 2019.

On the periphery of our research area but worthy of a mention, is the sale of Aviva Investor’s Broadway Plaza to Legal & General for £46.95 million. The scheme is anchored by tenants Hollywood Bowl and an ODEON Luxe cinema, with the latter completing a major refurbishment in June.

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3. Residential

Residential development remains the most active sector in Birmingham, surpassing the record-breaking o. of units levels we reported in the 2018 report. 5,065 units are 3,000 currently under construction, with many other smaller 2,500 schemes offering additional space (i.e. less than 25 units). There were a total of 13 new schemes started in 2,000 2018, a figure generally consistent with activity in 2017. 1,500

1,696 units were completed in 2018 and delivery 1,000 will rise to an anticipated 2,924 units in 2019. This is 500 a significant level of activity when compared to the average annual completion rate of 555 units between 0 2008 and 2018. 2011 2012 2013 2017 2015 2019 2014 2016 2018 2010 2021 2020 2022 2023 2009 2008

Despite the uncertainty surrounding Brexit, confidence Comleted UC 20082018 average in the city centre residential market continues to strengthen. Developers remain keen to secure key Soure: Deloitte Real Estate strategic locations within the city, as the competition from new market entrants intensifies. With the The commencement of this project marks a significant Government’s appetite to increase housing supply we year of development for the area, which has also seen have seen a number of sites unlocked for development, the start of SevenCapital’s St Martin’s Place and Crest in order to satisfy the ever-growing demand. Nicholson’s Sherborne Wharf, whilst Regal completed phase 1 of The Bank. The Westside quarter of the city remains popular with developers and nine schemes are currently under Development in the area has been stimulated by construction providing an additional 1,908 units. the improvements to infrastructure, with works commencing on the Midland Metro extension to The end of 2018 saw groundworks begin at 2one2 Broad Street and Centenary Square. This service is set Broad Street. Moda Living’s £183 million build-to-rent to open late 2019, with a second phase of the route scheme, comprising 481 apartments and a 200m providing an extension to Hagley Road and Edgbaston, rooftop running track, is set to become Birmingham’s an investment that will provide an improved public tallest residential tower, rising to 42 storeys. transport link between Westside and the city core.

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In Southside, 2018 delivered a number of new starts and completions of high density schemes and there remains a strong pipeline of residential projects moving ewellery Quarter forward. Patrizia Immobilien’s development The Forum, one of Birmingham’s first build-to-rent schemes, 7 completed in 2018, delivering 334 apartments. Eastside 1 One of the biggest residential transformations the city 1 centre has seen in recent years has commenced at St City Core Luke’s, where Barratt Homes’ B5 Central development will deliver a total of 778 units across two phases. 2 Phase 1 will see a mix of one, two, three and four 1 3 1 bedroom homes totalling 463 units, with the first set of Westside 6 Digbeth three bedroom houses available in Spring 2019. Phase Southside 2 of the project is scheduled to commence in 2019 and will see 315, one and two bedroom apartments built, Comlete 2018 UC with delivery expected in 2020. Overall completion of the project is estimated to be Q4 2023. Just down the road, demolition is now complete and construction is set to begin at MCR’s New Monaco scheme. The development will see the construction of 1,009 units ewellery Quarter with an additional 16,285 sq ft of retail space.

Development activity within the Southside quarter 1,26 Eastside will benefit substantially from the Smithfield 603 redevelopment plans, with Birmingham City 77 Council announcing Land Lease as the preferred City Core developer for the former wholesale markets site. Residential developers are looking to capitalise on the 1,90 475 regeneration of this area of the city. 140 1,146 313 Westside 31 Digbeth Southside

Comlete 2018 UC

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The Jewellery Quarter remains a focus for residential development, with five new starts in 2018 and a total of Key Statistics 1,268 units currently under construction. No schemes were completed in 2018; however we expect a number Completed 2018: to come to market following completion early 2019, 1,696 Units such as SevenCapital’s St George’s Urban Village and Spitfire Urbane’s Newhall Square developments. The New Under Construction: Jewellery Quarter continues to follow a development 2,863 Units trend whereby schemes tend to be smaller in scale, offering high quality inner-city living, through an eclectic Total Under Construction: mix of characterful conversions and new builds. 5,065 Units

The much anticipated transformation of the Digbeth Key Developments area of Birmingham is beginning to gain momentum, in B5 Central particular along the Bradford Street corridor. Despite 2one2 Broad St SevenCapital’s Cotton Lofts being the only scheme to New Monaco complete in 2018, providing 313 new units, a flurry of planning applications have been submitted in H2 of 2018, with demolition works beginning on a number of projects and construction set to start early 2019 – most notably PGC’s Lunar Rise, which will deliver over 500 units. Similar activity can also be found in the Gun Quarter, with demolition works commencing on various projects including Snow Hill Wharf, a Berkeley Homes scheme that will deliver 404 units in a relatively under-developed area of the city. In Eastside, Nikal’s Exchange Square continues to progress well towards a 2019 completion.

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4. Student accommodation, education, health and research

For a second consecutive year, the crane survey has New starts in 2018 include: recorded increasing levels of development within the purpose built student accommodation (PBSA) and •• Lancaster Circus – 1,023 bedspaces education sectors, but activity amongst the health and research sectors has remained low. Four new student •• 42-45 Upper Dean Street – 399 bedspaces accommodation schemes were recorded alongside two new education starts. In previous years the majority of •• Bath Court – 435 bedspaces activity was concentrated within the Eastside and Gun Quarter areas of the city; however new development •• Toybox – 290 bedspaces. starts in 2018 were spread more evenly across the city.

Student accommodation A total of 2,667 student bedspaces are currently under o. of bedsaes construction and 2018 saw 1,262 new bedspaces 2,000 delivered. Delivery rates are expected to be similar in 2019, with 1,209 further beds due to be completed, 1,600 increasing to 1,458 in 2020. This represents a significant increase in development activity when compared to 1,200 the 2008 to 2018 average of 657 bedspaces. 800

A total of three schemes completed in 2018, most 400 notably Staniforth House in the Gun Quarter, providing

586 bedspaces. 0 2011 2012 2013 2017 2015 2019 2014 2016 2018 2010 2020 2009 2008

Comleted UC 20082018 average

Soure: Deloitte Real Estate

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Education, health and research Universities within the city have invested in additional There have been one completion and two new education space, as student numbers continue starts in this sector over the past 12 months. At to increase year-on-year. This sentiment has been Birmingham City University (BCU) the extension to mirrored in the student housing sector, as developers the Curzon B building has now completed, creating look to capitalise on the increasing numbers and an additional 100,000 sq ft of education space. BCU growing demand from students for city centre living. have also started work at Moss House, a second phase of an expansionary project that has seen an investment of £100 million in facilities to create a new Key Statistics Jewellery Quarter campus. Moss House will provide approximately 140,000 sq ft of education space that Completed 2018: will be used to house a new student union, state- PBSA: 1,262 bedspaces of-the-art sports facilities, three 100-seater lecture Education: 100,000 sq ft theatres, 17 classrooms, as well as exhibition space H&R: N/A and break-out dining areas. BCU have set a target completion date of 2019, in time for the new New Under Construction: academic year. PBSA: 2,147 bedspaces Education: 165,940 sq ft At , a new student union building H&R: N/A is under construction. The £10 million scheme is set to provide a purpose-built facility to support Total Under Construction: their students and is on course to open in the spring PBSA: 2,667 bedspaces of 2019. Education: 165,940 sq ft H&R: N/A is set to begin a refurbishment of the historic 3 Centenary Square. Key Developments In 2019, the former Municipal Bank will provide the Lancaster Circus university with about 55,000 sq ft of space. Proposals Staniforth House include a community education hub, music and drama Moss House (BCU) performance space, business and professional training space, as well as meeting and function space, providing an extension to their campus facilities.

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5. Outlook

Development activity in Birmingham City Centre Themes highlighted in our previous reports continue to continues to forge ahead, with cranes springing up develop and the positive impacts of major relocations throughout 2018. Residential and office schemes are starting to be felt. The popularity of city centre dominate our league table as both domestic living shows no sign of declining and as more build-to- and foreign investors have sought to be part of rent accommodation reaches the markets, the ideal the resurgence of the city. Headline-grabbing of walking to work should become a real possibility for infrastructure improvements coupled with the more people. The opening of the tram extension will unlocking of several major development sites mean further enhance connectivity across the city and will that for the third consecutive year, the city has provide a stepping stone for the next phase. achieved record levels of development activity. Arguably the biggest impact on Birmingham City Now in its seventeenth year, the Birmingham Crane Centre will be the opening of HS2 Phase 1 line which Survey has reported both the highs and lows of will link and Birmingham in less than one hour development around the city centre. This year the and see the development of a new £300 million station number of cranes working across the skyline remains ‘Curzon Street’. Enabling works are already underway similar to the last two years, with 23 new active for the station and the contract for the station build is sites coming on stream in 2018. Inevitably talk of currently out to tender, with completion of the station the impact of Brexit and the levelling off of property works and opening of the line set for 2026. The station values dominated the final quarter of 2018. Only time development will not only develop the HS2 site itself, will tell if this marks a turning point for development but has the potential to regenerate surrounding areas activity. The decision to commence any development with many landowners/developers planning schemes requires confidence in the future and commitment to in and around the station to capitalise on the new high see the project through. Without doubt confidence speed rail link. levels in Birmingham have surged over the last three years; however, external factors could persuade some In January 2019, selected Lend developers to defer new acquisitions and delay the Lease as their preferred developer to bring forward start of some schemes in the hope that more certainty the £1.5bn mixed-use Smithfield development. This in the national political and macro-economic outlook scheme will transform the 17 ha city centre site and is returns in the early part of 2019. expected to commence in 2022.

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The Centenary Square revamp project also continues to As the property market adjusts, Birmingham City move forward, with an expected completion this year. Centre continues to deliver a wide range of new The site will act as a link between Paradise and Arena developments and with the current levels of building Central, completing the surrounding public realm. activity the pipeline remains strong. The uncertainty caused by Brexit is likely to dent confidence and delay New office development continues apace, with some new starts to a degree; however, Birmingham Paradise, Arena and Snowhill offering the potential to remains as well placed as any regional city in the UK to attract more major employers or businesses looking capitalise on new opportunities. to relocate in order to accommodate new growth and provide stunning spaces to attract and retain talent. However, the office market continues to undergo a structural change with almost a quarter of new lettings last year linked to the serviced office sector.

Unsurprisingly, the retail sector is where we see the least amount of development activity, partly because of the major redevelopments in the past year but also due to the change in demand for high street shopping. A trend towards more convenience and F&B is apparent, with more conversions likely in the future. One of the biggest changes on the horizon for central Birmingham may involve the re-purposing of the former Rackhams department store, with plans reported for conversion of the building for a mix of uses, potentially including a hotel and offices.

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Development map

A41 M6 6 A41 A34 A38M A34 EW SREE WES A4540 EWW 0 4 MIDDLEWA 5

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DARMU MIDDLEWA

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D WLESALE EA 43 20 14 MARKE M5 3 FIE WA 38 44 17 LL WAS RW 22 A B 39

A 45 GLE RAD IS L 40 I 15 I G G D A F R IE E R L D R W BAM I. A456 R D RB M AIRPR A ID 42 A45 D L CALRPE RAD EW A AUGUSUS RAD 25

BIRMIGAM CI UIERSI A38 BRISL37 SREE

WESBURE RAD WEELES RAD

MIDDLEWA C

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Under construction Completed PRIR RAD

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WARWICKSIRE CU CRICKE CLUB (EDGBAS)

A38 A38 Redefining our place|  Birmingham Crane Survey 2019

6. Development table

No. Name/Address Developer Main use Total size Completion Comments (sq ft/units) date

City Core – Under Construction

1 103 Colmore Row Rockspring/ Office 223,000 sq ft Q1 2021 26 storey development with typical 12,000 sq ft floorplates Sterling with ground floor retail and leisure space

2 One Chamberlain Argent/Hermes Office 172,000 sq ft Q1 2019 Pre-let to PwC with additional ground floor retail and leisure Square space

3 Platform21, Evenacre Office 112,000 sq ft Q2 2020 Speculative office refurbishment with typical 12,000 sq ft Stephenson Street floorplates

4 Primark, Primark Retail 150,000 sq ft Q1 2019 The Pavillions

5 The Grand Hotel, Hortons Estate Hotel 180 rooms Q2 2019 Colmore Row

6 The Royal Angus Hotel, The Hotel Hotel 93 rooms Q4 2019 Refurbishment: 93 additional rooms to total 226 rooms St. Chads Queensway Collection

7 Three Snowhill Ballymore/ Office 420,000 sq ft Q1 2019 17 storey speculative development with typical 25,000 sq ft M&G Real floorplates Estate

8 Two Chamberlain Argent/Hermes Office 183,000 sq ft Q4 2019 Typical 24,000 sq ft floorplates Square

City Core – Completed

9 Crossway, AG Dunedin Office 76,254 sq ft 2018 Fully let to IWG (Regus) Great Charles Street

10 One Centenary Sq, HSBC Office 210,000 sq ft 2018 Office building forward-purchased by HSBC Arena Central

11 The Lightwell, Pimlico Capital/ Residential 77 units 2018 Building conversion to provide 1 and 2 bed units Cornwall Street Adapt Real Estate

Red denotes new start this 2019 survey

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No. Name/Address Developer Main use Total size Completion Comments (sq ft/units) date

Westside – Under construction

12 2one2 Broad Street Moda Living Residential 481 units Q1 2021 42 storey tower build-to-rent scheme

13 3 Arena Central Miller for HMRC Office 240,000 sq ft Q2 2020 Office of Government Property have leased the entire building for the new Midlands hub of HMRC

14 Arden Gate, Court Residential 225 units Q4 2019 William Street Collaboration/Top Capital Group

15 Bath Court, Harrison Street PBSA 435 bedspaces Q2 2020 Bath Row Real Estate Capital/ Uliving

16 Dandara, Dandara Residential 323 units Q1 2019 24 storey PRS scheme Arena Central

17 Landsdowne House SevenCapital Residential 206 units Q1 2019

18 Regency Place, SevenCapital Residential 82 units Q1 2019 Edward Street

19 Sherborne Wharf Crest Nicholson Residential 146 units Q4 2020 Phase 1

20 St. Martin’s Place SevenCapital Residential 228 units Q4 2020

21 The Bank, Sheepcote Regal Residential 217 units Q3 2019 33 storey development Street, Phase 2

22 Toybox, Bishopgate Court Collaboration PBSA 290 bedspaces Q3 2019 Street

Westside – Completed

23 B1, 63 Edward Street Trigram/Prosperity Residential 63 units 2018

24 Granville Lofts, SevenCapital Residential 112 units 2018 Holliday Street

Red denotes new start this 2019 survey

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No. Name/Address Developer Main use Total size Completion Comments (sq ft/units) date

25 Roosevelt, Crest Nicholson Residential 335 units 2018 Park Central

26 Tennant Street Lofts Elevate Property Residential 40 units 2018 Group

27 The Bank, Sheepcote Regal Residential 189 units 2018 22 storey tower Street, Phase 1

28 The Embankment, InReach Living/BCC Residential 92 units 2018 Build to Rent Scheme St. Vincent Street

Jewellery Quarter – Under Construction

29 41 & 42 Tenby Street Amendola Residential 10 apartments + Q2 2019 North Developments 4 townhouses

30 Assay Lofts Elevate Property Residential 32 units Q4 2019 Group

31 Beaufort House, Beaufort House Residential 75 units Q1 2019 Office conversion Developments

32 Gilders Yard, Blackswan Property Residential 157 units Q4 2019 PRS scheme Hartford Street

33 Moss House, Birmingham City Education 140,000+ sq ft Q3 2019 Final phase of BCU’s new Jewellery Quarter campus George Street University

34 Newhall Square, Spitfire Urbane Residential 220 units Q1 2019 PRS scheme Newhall Street

35 St George’s SevenCapital Residential 638 units Q1 2019 Phased development part conversion and part new Urban Village incl build to provide apartments and town houses Kettleworks

Red denotes new start this 2019 survey

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No. Name/Address Developer Main use Total size Completion Comments (sq ft/units) date

36 The Quadrant, SevenCapital Residential 133 units Q3 2019 Summer Hill Street

Jewellery Quarter – Complete

Southside – Under Construction

37 B5 Central Phase 1, Barratt Homes Residential 463 units Q4 2023 Mix of one, two, three and four bed houses St Lukes Estate, Bristol Street

38 Dance Hub – Birmingham Leisure 7,265 sq ft Q2 2019 Birmingham Hippodrome Hippodrome

39 The Axium, Court Residential 304 units Q1 2020 Windmill St Collaboration/Top Capital Group

40 The Timber Yard, Aspley House Residential 379 units Q1 2021 Pershore Street Capital & Galliard Homes JV

41 TrueBirmingham, Bricks PBSA 399 bedspaces Q3 2019 42-45 Upper Dean Development/CIMC Street

Southside – Completed

42 Madison House, SevenCapital Residential 141 units 2018 Wrentham Street

43 The Forum, Patrizia Immobilien Residential 334 units 2018 11 storey PRS scheme Pershore Street

Digbeth – Under Construction

44 F-Digbeth, Cedar Invest Residential 140 units Q3 2020 Bradford Street

Red denotes new start this 2019 survey

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No. Name/Address Developer Main use Total size Completion Comments (sq ft/units) date

Digbeth – Completed

45 Cotton Lofts, SevenCapital Residential 313 units 2018 Fabrick Square, Bradford Street

Eastside – Under Construction

46 Aloft Hotel and Unite Hotel/ 170 rooms Q1 2019 Unite HQ providing 170 rooms and 45,750 sq ft Conference Centre, Conference/ conference space and 55,260 sq ft office space Woodcock Street Office

47 Aston University Aston University Education 25,940 sq ft Q2 2019 Student Union

48 Exchange Square Nikal Residential 603 units Q2 2019 Residential led scheme, with ground level leisure and Phase 1 retail unit

49 Lancaster Circus McAleer & Rushe PBSA 1,023 bedspaces Q3 2020 24 storey development

Eastside – Completed

50 Curzon B UCB Education 100,000 sq ft 2018 New teaching accommodation

51 The Emporium Linford Czero/ESP PBSA 184 bedspaces 2018 15 storey tower and refurbishment of listed building

Gun Quarter – Under Construction

52 The Globe Works, London & UK PBSA 520 bedspaces Q2 2019 Cliveland Street Property

Gun Quarter – Completed

53 Bagot Street Arlington Student PBSA 492 bedspaces 2018 17 and 11 storey development Holdings/Campus Living Village

54 Staniforth House Unite PBSA 586 bedspaces 2018 14 storey development

Red denotes new start this 2019 survey

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7. Contacts

Edwin Bray Jane Whitlock Partner, Deloitte Real Estate Midlands Practice Senior Partner 0121 695 5636 0121 695 5914 [email protected] [email protected]

Simon Bedford Pauline Biddle Partner, Deloitte Real Estate Managing Partner, Regional Markets 0161 455 6484 0121 696 8660 [email protected] [email protected]

Charlie Andrews Associate, Deloitte Real Estate 0121 695 5013 [email protected]

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Endnotes and abbreviations

1. Source: Birmingham Office Market Forum – January 2019

U/C – Under Construction

H&R – Health and Research

PBSA – Purpose built student accommodation

F&B – Food and Beverage

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