Project Promoters: Hermes/Birmingham City Council Paradise Scale: Birmingham £550m GDV (Phase 2 & 3) Sector: Opportunity Mixed-use including The opportunity for investment is available in commercial, retail, leisure and partnership with Hermes Investment Management, hotel including co-investment/development finance to support Phases 2 and 3 or on a building-by-building Location: basis. Birmingham City Centre Argent and Hermes enjoy a strong track record for delivery with a particular strength in the creation of Investment Type: successful city-scale, mixed use developments. Paradise Development partner or funder will benefit from the continuity and commitment of this working partnership which has already delivered Planning Status: 408,770 sqm of development through some of the most Paradise masterplan for all significant and challenging regeneration projects in the phases has outline planning UK including Brindleyplace in Birmingham, the Piccadilly consent area in Manchester and the redevelopment of King’s Cross in London. paradisebirmingham.co.uk Overview Phase 3 has outline planning permission to deliver a further five buildings and a new large public square, completing the Background improvements in pedestrian connectivity and Located on a seven acre site at the city’s space across the city. This will encompass heart, Paradise links Birmingham’s civic c. 64,855 sqm of grade A office and ground and cultural quarters. Comprising ten floor retail space. The project is within the individually designed buildings across Birmingham City Centre Enterprise Zone three phases, the £1 billion development is (EZ) and has delivered infrastructure works one of the largest and most strategically with EZ funding. important city centre schemes outside Project Promoter and Partnerships of London. Paradise comprises almost The project promoter is a joint venture two million square feet of high quality between Hermes and Birmingham City commercial, retail, leisure and hotel space, Council. all set in superbly crafted public realm, truly befitting its exemplary historical setting. The Paradise redevelopment is being brought forward through Paradise Circus Limited International professional services firm PwC Partnership (PCLP), a private-public joint has taken all the 13,935 sqm of commercial venture between British Telecom Pension space in One Chamberlain Square and will Scheme (BTPS) and Birmingham City be relocating its 1,400 strong Birmingham Council; Hermes Investment Management team in 2019. It will have the potential to manages the investment on behalf of accommodate a further 1,000 people for its BTPS. PCLP is delivering the enabling planned regional expansion. works including the creation of serviced Project Description development platforms for the Building Due for completion in 2019, construction Developers. The private sector funding for of Phase 1 is well underway and includes the specific buildings is being managed by One Chamberlain Square and Two Hermes Investment Management, which Chamberlain Square that comprise has partnered with Canada Pension Plan 15,980 sqm and 17,000 sqm of Grade Investment Board (CPPIB) on the first phase A office and ground floor retail space of the development. Advisers to the project respectively. Phase 1 also incorporates to date include Legal BLP, Hogan Lovells the much improved and enhanced and Eversheds; Engineers Arup and PBA; Chamberlain Square and connected Architects Glenn Howells and Eric Parry; public realm, together with associated Landscape Architects Grant Associates; QS highways alterations and a basement car Faithful & Gould Atkins and Planners Deloitte park that initially provides c. 300 car and Turley. park spaces. Phase 1 completion links with the completion of other significant neighbouring projects such as the Midland Metro extension to Broad Street, the £13 million refurbishment of Centenary Square and HSBC’s relocation of its Birmingham business and personal headquarters from London to Arena Central. Paradise Phase 2 includes One Centenary Way, a c. 26,010 sqm office building, with space for shops and restaurants at the ground and upper ground level; a new 4* plus hotel with approximately 250 bedrooms and Three Chamberlain Square, offering 13,006 sqm of Grade A Offices/Retail. It also includes new public realm to include a new square, in addition to that being delivered as part of Phase 1. .