Wholesale Hub
Property Week has reported that Prupim's Hub scheme is the only viable site for the relocation of the Wholesale Markets.
I first noted the plans to move the Wholesale Markets in July last year, Market Move Starts, noting the tender that had been placed on the Supplement to the Official Journal of the EU for the relocation of the markets to a site within 5 miles of the existing site.
The markets covering a 21 acre site are the UK's largest integrated markets and would occupy between 600,000 and 920,000 sq ft at a new scheme, valued at approximately £100m. The Hub development which opened in 2004 has planning consent for 1.5m sq ft at the site and would be able to offer a long lease to the market.
The relocation would kickstart the ambitions of the council in using the market site to extend the core of the city and link to existing retail and office areas in the city. The city council is keen to develop the site with various options being mused in the Big City Plan for the area. The council is also keen to develop the site with revenues of the sale of land being used towards projects such as the new Library of Birmingham and 50m Olmypic Pool.
I first noted the plans to move the Wholesale Markets in July last year, Market Move Starts, noting the tender that had been placed on the Supplement to the Official Journal of the EU for the relocation of the markets to a site within 5 miles of the existing site.
The move could allow US developer Hines to progress with a mixed-use scheme on the existing market site that would extend the city centre in line with Birmingham’s Big City Plan.
The council’s decision comes after the rival bidder for the relocation, St Modwen with its partner Sahlia, chose not to compete in the second round of bidding to develop the markets at its 56 acre Heartlands Park site, the former Alstom manufacturing plant.
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3133787
The markets covering a 21 acre site are the UK's largest integrated markets and would occupy between 600,000 and 920,000 sq ft at a new scheme, valued at approximately £100m. The Hub development which opened in 2004 has planning consent for 1.5m sq ft at the site and would be able to offer a long lease to the market.
The council wants the new complex to be a regional centre of food excellence and a ‘food tourism’ destination with restaurants and educational facilities. The existing market is closed to the public.
The council is expected to ratify the principle of relocation for the Wholesale Market, and to simultaneously decide on the Prupim site, at the next cabinet meeting on 16 March.
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3133787
The relocation would kickstart the ambitions of the council in using the market site to extend the core of the city and link to existing retail and office areas in the city. The city council is keen to develop the site with various options being mused in the Big City Plan for the area. The council is also keen to develop the site with revenues of the sale of land being used towards projects such as the new Library of Birmingham and 50m Olmypic Pool.
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