LCR brings major development site to market

LCR, the Government 's placemaking expert, has brought forward a landmark site in the heart of Birmingham for disposal, in a move that brings plans to create a vibrant new destination in the city centre closer to fruition. Savills has been appointed to advise on the land disposal process.

The existing 240,000 sq ft (GIA) building lies on a prominent four-acre site. Detailed planning consent has been secured for two new office buildings designed by Fletcher Priest Architects, namely One and Four Axis Square which comprise 210,000 sq ft (NIA) and 200,000 sq ft (NIA) respectively. LCR has also had pre-application engagement with Birmingham City Council (BCC) for a residential scheme of almost 1,000 new homes.

LCR has worked closely with Birmingham City Council to ensure that future development on the site, which is situated between The Mailbox and Arena Central, and a short distance from Birmingham New Street rail station, aligns with the Council 's 'Our Future City Plan '. The plan outlines the vision for the city up to 2040 and aims to drive increased investment in new homes, public infrastructure and commercial space.

LCR has secured the rights to vacant possession of the existing building in order to carry out demolition works which will commence in April 2022. Savills is now inviting offers for the freehold interest on an unconditional basis.

Ray Willis, regional director at LCR, said: “This site coming to market signals a major milestone for one of the city 's most exciting projects. Once complete, Axis will support Birmingham City Council 's strategic ambitions and make progress towards its 'Our Future City Plan '. Like the Council, we 're committed to enabling the redevelopment of Axis Square which will deliver public value for years to come. ”

Michael Maguire, Mixed Use Development at Savills, commented: “Savills is delighted to have been instructed by LCR to advise on the freehold disposal of Axis Square. The site represents a significant opportunity to create an exemplar development of scale in a prime City Centre location, with the benefit of two detailed planning consents for One and Four Axis Square and positive pre-application advice for a residential led development. We have been working with LCR, and in conjunction with Birmingham City Council, for some time to prepare the site for market and we look forward to securing a new custodian to deliver a comprehensive development. ”