37-storey tower to be built on site of old nightclub
A37-STOREY apartment tower complete with running track and roof terrace will be built on the site of the old Tramps nightclub in Broad Street.
Joint venture partners Moda Living and Apache Capital Partners have confirmed they will develop the £145 million scheme which was first reported earlier this year.
The new development will comprise 450 flats, communal areas, commercial space, sky lounge, meeting rooms, indoor/outdoor cinema and gym.
The roof terrace will have a 200metre running track and landscaped gardens and apartments will be available to rent only.
The 0.77-acre development site is next to the home of Birmingham furniture store Lee Longlands and opposite another major regeneration project – the Left Bank hotel and residential scheme.
It has been designed by Birmingham practice Glenn Howells Architects and is the first project by the joint venture between developer Moda and investor Apache which will together retain ownership of the property and operate it themselves.
The site, which has been derelict for 25 years, was purchased from Bloomcrest, a joint venture between Richardson Capital and Cordwell Property Group which had previously planned a 40-storey tower but it was hit by the recession.
Lee Savage, UK development director with Moda Living, said: “This site fits in perfectly with our strategy of targeting central locations in major urban areas, where we can deliver high-quality rental housing at scale to professionals let down by the buy-to-let market while also supporting on-going regeneration efforts.”
Richard Jackson, co-founder and managing director of Apache Capital Partners, added: “This prime site is perfectly placed in the heart of central Birmingham and will deliver a completely new standard of residence and lifestyle for the city centre rental market whilst also becoming part of the local community and
This site fits in perfectly with our strategy of targeting central locations in major urban areas
supporting the strong growth.”
Waheed Nazir, Birmingham City Council’s director of planning, said: “The city has an ambitious growth agenda.
“We are planning for a significant number of new homes to meet the needs of our growing population and support our economic development.
“New inward investment is hugely important to this growth agenda.
“Confidence in the city is high and the delivery of homes, quality of life and employment opportunities will continue to see Birmingham as an attractive place to invest.
“The city council will be looking to support those developments that help achieve our aspirations and deliver the high quality environments for our growing population.”
Law firms DWF and Trowers & Hamlins acted on the deal. city’s continued
Lee Savage, of Moda Living