The deal sees Kier Property taking on the development of three office buildings, totalling 526,009 sq ft.
The buildings known as 5 Centenary Square, 4 Arena Central and 5 Arena Central will be phased over the next five-to-seven years
The site is near the International Convention Centre, the Library of Birmingham and Arena Birmingham (formerly the National Indoor Arena) and within the Birmingham City Centre Enterprise Zone. This scheme is part of a major redevelopment of 10 buildings consisting of offices, shops, bars, cafes, restaurants and a hotel through to 2026.
Parts of the Arena Central masterplan have already been built. One Centenary Square has recently been occupied by HSBC and government offices are moving into 3 Arena Central at the end of next year – Kier Property now takes responsibility for delivering this building.
Tom Gilman, managing director for Kier Property North, said: “We are delighted to announce the purchase of this significant 9.2 acre development opportunity at Arena Central. This acquisition will substantially increase our activities in the West Midlands and will enable Kier to continue the development of the area as a place where people will want to work, shop and socialise in Birmingham.”
Andrew Sutherland of Miller Developments added: “Having been involved in the project for a number of years, Arena Central is now firmly established as one of Birmingham’s prime office locations, and we’re delighted to hand the baton to an organisation of Kier Property’s calibre for delivery of the remaining phases.”