Developer Sterling Property Ventures and funding partner Long Harbour have unveiled plans for a £100m joint venture aimed at creating a mixed-use development for Birmingham’s Great Charles Place in the UK.
Planned beside the Snow Hill railway station on a two acre site, the development aims to add 320 residential studio apartments to the city.
It is expected to include more than 200,000ft² of ground floor retail, office and leisure space, as well 8,000ft² of small business units.
The site on which the development has been planned is a pay and display car park at present.
Sterling Property Ventures signed a joint venture agreement with land owner Birmingham City Council for development of the site in 2013.
Construction works at the site are likely to start in January, subject to planning approval. The developer intends to submit detailed plans for the first phase development at the site this month.
The second outline application for a 205,000ft² office block with 40 basement parking spaces, is expected to be submitted before the end of the year.
Sterling Property managing director James Howarth said: "Great Charles Place will be a fantastic addition to the Jewellery Quarter.
"Not only will it realise the potential of this strategic development site, it will help deliver some of the housing and office space so desperately needed by Birmingham."
Long Harbour investment and development manager Rebecca Taylor said: "We have been working very closely with our partner Sterling and their professional team over the past few months to ensure that Great Charles Place promotes a strong sense of community, delivers homes that are of a superior quality and creates a new and vibrant destination for Birmingham.
"Great Charles Place represents a cornerstone investment for our fund and into Birmingham, which we have identified as a core target area for build to rent investment."