Birmingham Post - Business News - Commercial Property

Costs spiral for regeneration at former Walsall copper works

Birmingham Post — Thu, 09 May 2013 11:12:00 GMT

The projected costs of a major Black Country regeneration scheme have spiralled after a private sector development deal fell through according to a confidential report seen by Birmingham Post. Walsall Council has taken legal action to prevent publication of the financial details of the Cabinet report - claiming it could affect future contract negotiations. But it shows that the cost to the council taxpayer of transforming the blighted former IMI James Bridge Copper Works site at Darlaston into usable industrial land has soared since an £18 million deal with private sector developer, Parkhill Estates, fell through late last year. Estimates of potential jobs from the Pheonix 10 for the area have at the same time fallen from 4,000 to 3,000. The site is thought to be suitable for large warehouse and distribution units to take advantage of the location near to Junction 10 of the M6, The Cabinet agreed to seek a long-term loan to cover the potential costs which would be repaid via the Black Country Local Enterprise Partnership through increased business rates from new occupiers of the 37-acre site. It also reveals that despite expected income from coal extraction and ultimately land sales there is still a strong risk that the council might never recover the initial investment. In a behind closed doors meeting the Tory-Lib Dem cabinet approved the scheme as too important to shelve even though it has been unable to attract private sector partners. The council will pay £1 to buy the land from the Homes and Communities Agency and accept responsibility for reclamation. Opposition Labour group leader, Coun Tim Oliver, said the project is vital to the regeneration of the borough and the Black Country but added that the council has mismanaged the project from the start by allowing the Parkhall deal to collapse. He said: “The costs have increased while the predicted jobs number has fallen from 4,000 to 3,000. We have to ask why the budget has spiralled, what is being done to ensure costs don’t continue to climb? “It’s ironic local Tories, who argue against public sector borrowing, are being forced to take out loans to fund a project they originally told us would be paid for by private money.”

New Monarch hangar at Birmingham Airport reaches construction milestone

Birmingham Post — Wed, 08 May 2013 05:45:00 GMT

A new aircraft maintenance hangar which could create 300 jobs at Birmingham Airport has reached a construction milestone.

Birmingham sees more offices turned into homes

Birmingham Post — Wed, 08 May 2013 05:01:00 GMT

Birmingham has emerged as a hotspot for converting offices into residential accommodation – as a drive to provide over 11,000 new UK homes gathers pace.

Slow progress for Birmingham's Grand Hotel restoration

Birmingham Post — Fri, 03 May 2013 16:00:00 GMT

A year on from planning permission being granted for a £30 million scheme to redevelop Birmingham’s Grand Hotel, Graeme Brown talks to its owners about progress.

Birmingham Eastside projects take civil engineering awards

Birmingham Post — Fri, 03 May 2013 15:02:00 GMT

Two Eastside engineering projects took away a handful of trophies at the annual Institution of Civil Engineers West Midlands awards.

Birmingham Airport control tower wins property award from RICS

Birmingham Post — Fri, 03 May 2013 13:45:00 GMT

The new £10 million air traffic control tower at Birmingham Airport has been crowned the West Midlands property project of the year.

New bill aims to unlock large areas of land for development

Birmingham Post — Fri, 03 May 2013 13:31:00 GMT

A new bill aimed at fast-tracking large-scale developments could help to unlock large pieces major land, according to a Birmingham planning expert.

Property consultant RLB moves UK base to Colmore Row

Birmingham Post — Mon, 29 Apr 2013 03:25:00 GMT

The Birmingham office and UK headquarters of property consultants Rider Levett Bucknall is relocating to the city’s professional core.

Intellectual property firm Forresters move to heart of Birmingham

Birmingham Post — Tue, 23 Apr 2013 01:35:00 GMT

Birmingham-based intellectual property specialist Forresters is going back to its roots with a move to the city’s Colmore business district.

Investors buy 33,000 sq ft at West Midlands industial estate

Birmingham Post — Mon, 22 Apr 2013 06:00:00 GMT

A London property investment group has boosted its portfolio with the acquisition of 33,000 sq ft at a West Midlands industrial site for an undisclosed sum.

Birmingham property agency appoints third female associate in 12 months

Birmingham Post — Mon, 22 Apr 2013 06:00:00 GMT

A Birmingham property agency has promoted its third female associate partner in 12 months.

New plans for Bishop Gate in Coventry revealed

Birmingham Post — Fri, 19 Apr 2013 14:03:00 GMT

A Midland developer has announced revised plans for a £50 million mixed use scheme in Coventry city centre after it failed to attract a big supermarket chain.

New trio to strengthen RLB's Midland team

Birmingham Post — Fri, 12 Apr 2013 13:38:00 GMT

An international property company has announced a hat trick of appointments to its 130 strong Midlands team.

Empty properties yield almost £100m in rates

Birmingham Post — Fri, 12 Apr 2013 13:37:00 GMT

Almost £100 million in business rates was levied on empty properties in the West Midlands in 2011/12, according to a new report.

Cube developers in tune as they band together

Birmingham Post — Thu, 11 Apr 2013 23:06:00 GMT

The men behind the landmark city centre development The Cube, who traded bricks for picks when they formed a band, will play in front of 4,000 fans this weekend.

Businesses taking serviced offices in Birmingham city centre increases by a fifth

Birmingham Post — Wed, 10 Apr 2013 05:00:00 GMT

The number of business taking serviced offices in Birmingham city centre has increased by a fifth compared to the same time last year, according to new research.

Almost £100 million in business rates levied on empty properties in the West Midlands

Birmingham Post — Tue, 09 Apr 2013 06:05:00 GMT

Almost £100 million in business rates was levied on empty properties in the West Midlands in 2011/12, according to a new report.

Mell Square shopping centre in Solihull put up for sale

Birmingham Post — Fri, 29 Mar 2013 06:58:00 GMT

£50million price tag put on popular shopping centre as owners and leaseholders agree to sale.

Office availability falls to five-year low in Birmingham

Birmingham Post — Tue, 19 Mar 2013 15:30:00 GMT

Top grade office accommodation in Birmingham city centre has shrunk to its lowest level of availability for five years, a new survey reveals.

House builder with more than 150 Midland properties acquired for £210m

Birmingham Post — Mon, 18 Mar 2013 16:55:00 GMT

A Scottish house builder with more than 150 Midland properties has been acquired for £210 million.