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Ballymore to halt construction of 44 storey apartment block in Birmingham
Developers Ballymore are reviewing the timetable for completion of the £500 million mixed-use regeneration scheme at Snow Hill, Birmingham.
Although work has begun on building the footings of Snowhill Phase 3, it has been confirmed that poor market conditions could halt the residential element, being marketed as the highest habitable tower in the city.
The project includes two landmark skyscrapers designed by award-winning architect Glenn Howells, a 44-storey building containing 332 luxury apartments and a 23-storey block housing Birmingham’s first five star hotel.
US operator Starwood Hotels & Resorts has already announced its intention to open a 198-bedroom Westin Hotel and Spa in the finished building. A senior council source said: “It is fair to say Ballymore are reviewing the timetable for completion because of the market. But the five-star hotel operators are still on board.”
Ballymore has described the 1 million sq ft Snowhill project, on former car parks off Snow Hill Queensway, as a model for mixed use, sustainable regeneration.
Once completed, it will create a new city centre business district close to Colmore Plaza, which was completed earlier this year, and Colmore Row.
The first two phases are under construction and will provide 600,000 sq ft of prime commercial space.
One Snowhill, 120,000 sq ft of offices, has already been snapped up by KPMG, while Two Snowhill set new records for Birmingham with the city’s largest ever pre-let confirmed to Wragge & Co, solicitors.
Ballymore spokesman Paul Keogh said the company was now focusing all of its resources on completing Two Snowhill.
Mr Keogh added: “Snowhill has been a great success story for both Birmingham and Ballymore.
“There is nothing unusual or negative in our approach to the phasing of Snowhill. “Two Snowhill is the priority at present as a result of the Wragge & Co pre-letting and our resources are focused there.
“Phase 3 is under review only in terms of phasing and timing and this is normal business practice.”
Situated between Colmore Row and Snow Hill Queensway the two towers, will have a slender glass and steel façade with a sleek curved profile, are interlinked by a landscaped piazza which will house a 10,200 sq ft heath club and spa, a 15,900 conference centre and a selection of retail outlets totalling 3,500 sq ft.
A key component of the scheme is new public space, including an art wall that is planned to run the length of the development and become one of the longest linear works of art anywhere in Britain.
A range of restaurants, bars and quality retail arranged around new open public spaces such as landscaped squares, tree-lined boulevards and piazzas, will also be created within the development.
A council spokeswoman said Birmingham appeared to be escaping the worst of the downturn in the construction industry affecting the rest of the country. Inward investors remained confident in the city’s position as a major business centre.
She added: “We are holding up well in Birmingham in challenging circumstances. We are in a strong position because we have commitment to a number of public infrastructure projects such as New Street Station and the new Library of Birmingham.”
She said the council had no indication of delays in any other of the major regeneration schemes planned in the city centre.
Although work has begun on building the footings of Snowhill Phase 3, it has been confirmed that poor market conditions could halt the residential element, being marketed as the highest habitable tower in the city.
The project includes two landmark skyscrapers designed by award-winning architect Glenn Howells, a 44-storey building containing 332 luxury apartments and a 23-storey block housing Birmingham’s first five star hotel.
US operator Starwood Hotels & Resorts has already announced its intention to open a 198-bedroom Westin Hotel and Spa in the finished building. A senior council source said: “It is fair to say Ballymore are reviewing the timetable for completion because of the market. But the five-star hotel operators are still on board.”
Ballymore has described the 1 million sq ft Snowhill project, on former car parks off Snow Hill Queensway, as a model for mixed use, sustainable regeneration.
Once completed, it will create a new city centre business district close to Colmore Plaza, which was completed earlier this year, and Colmore Row.
The first two phases are under construction and will provide 600,000 sq ft of prime commercial space.
One Snowhill, 120,000 sq ft of offices, has already been snapped up by KPMG, while Two Snowhill set new records for Birmingham with the city’s largest ever pre-let confirmed to Wragge & Co, solicitors.
Ballymore spokesman Paul Keogh said the company was now focusing all of its resources on completing Two Snowhill.
Mr Keogh added: “Snowhill has been a great success story for both Birmingham and Ballymore.
“There is nothing unusual or negative in our approach to the phasing of Snowhill. “Two Snowhill is the priority at present as a result of the Wragge & Co pre-letting and our resources are focused there.
“Phase 3 is under review only in terms of phasing and timing and this is normal business practice.”
Situated between Colmore Row and Snow Hill Queensway the two towers, will have a slender glass and steel façade with a sleek curved profile, are interlinked by a landscaped piazza which will house a 10,200 sq ft heath club and spa, a 15,900 conference centre and a selection of retail outlets totalling 3,500 sq ft.
A key component of the scheme is new public space, including an art wall that is planned to run the length of the development and become one of the longest linear works of art anywhere in Britain.
A range of restaurants, bars and quality retail arranged around new open public spaces such as landscaped squares, tree-lined boulevards and piazzas, will also be created within the development.
A council spokeswoman said Birmingham appeared to be escaping the worst of the downturn in the construction industry affecting the rest of the country. Inward investors remained confident in the city’s position as a major business centre.
She added: “We are holding up well in Birmingham in challenging circumstances. We are in a strong position because we have commitment to a number of public infrastructure projects such as New Street Station and the new Library of Birmingham.”
She said the council had no indication of delays in any other of the major regeneration schemes planned in the city centre.
Thu, 7th Aug 2008