Second Snow Hill now coming
Work has recommenced on the Snowhill development which has been on hold for two years since the credit crunch. The scheme ground to a halt when Anglo Irish Bank pulled its funding as the Irish economy began to falter.
US giant Hines and Irish developer Ballymore Group signed an agreement to jointly develop the block following Hines' European Development Fund II acquiring the site. Balfour Beatty have been hired as general contractor with the the project starting in May 2011 and due for completion in early 2013, http://www.egi.co.uk/Articles/Article.aspx?liArticleID=733348&NavigationID=464
The office block will be 314,000-square-foot, bigger than it's adjacent sister One Snowhill. One Snowhill is home to KPMG and Barclays while the new block will house law firm Wragge & Co. global headquarters with the firm preleasing 185,000 square feet of the office space for 20 years. The failure to recommence construction would have jepordised this deal with an agreement that the law firm could withdraw from it's agreement if the building was not complete by 2013.
One Snowhill was purchased by Commerz Real AG while US property giant Hines and Moorfield acquired a large part of Brindleyplace in a joint venture.
The £500 million phased scheme is on the site of a former car park adjacent to Snow Hill railway station and is planned to include two Grade A office buildings, retail units, a hotel and residential apartments. The two office buildings with retail units on the ground floor have been designed by Sidell Gibson Architects with one currently completed and the second now under construction. The five star hotel and apartment buildings have been designed by Birmingham based-Glenn Howells.
An artists impression of what the completed project was due to look like is shown below.
Work on the scheme and adjacent improvements to St Chads Circus island saw the completion of the first office block, remodelling of the traffic junction to create a new square adjacent to St Chad's Cathedral and the construction of a viaduct alongside the station to allow for the extension of the Midland Metro into the city centre.
Photos of work starting on the second office block from the 16th June are shown below.
The final phase of the scheme, with the cores visible in the above pictures, for the apartments and luxury hotel remains in limbo as residential development in the city
is depressed by the apartment market. Meanwhile the office block Kennedy Tower opposite the site has planning consent to be converted into a Holiday Inn Express hotel suggesting the demand for hotels makes the hotel part of the scheme more likely to succeed.
US giant Hines and Irish developer Ballymore Group signed an agreement to jointly develop the block following Hines' European Development Fund II acquiring the site. Balfour Beatty have been hired as general contractor with the the project starting in May 2011 and due for completion in early 2013, http://www.egi.co.uk/Articles/Article.aspx?liArticleID=733348&NavigationID=464
The office block will be 314,000-square-foot, bigger than it's adjacent sister One Snowhill. One Snowhill is home to KPMG and Barclays while the new block will house law firm Wragge & Co. global headquarters with the firm preleasing 185,000 square feet of the office space for 20 years. The failure to recommence construction would have jepordised this deal with an agreement that the law firm could withdraw from it's agreement if the building was not complete by 2013.
One Snowhill was purchased by Commerz Real AG while US property giant Hines and Moorfield acquired a large part of Brindleyplace in a joint venture.
The £500 million phased scheme is on the site of a former car park adjacent to Snow Hill railway station and is planned to include two Grade A office buildings, retail units, a hotel and residential apartments. The two office buildings with retail units on the ground floor have been designed by Sidell Gibson Architects with one currently completed and the second now under construction. The five star hotel and apartment buildings have been designed by Birmingham based-Glenn Howells.
An artists impression of what the completed project was due to look like is shown below.
Work on the scheme and adjacent improvements to St Chads Circus island saw the completion of the first office block, remodelling of the traffic junction to create a new square adjacent to St Chad's Cathedral and the construction of a viaduct alongside the station to allow for the extension of the Midland Metro into the city centre.
Photos of work starting on the second office block from the 16th June are shown below.
The final phase of the scheme, with the cores visible in the above pictures, for the apartments and luxury hotel remains in limbo as residential development in the city
is depressed by the apartment market. Meanwhile the office block Kennedy Tower opposite the site has planning consent to be converted into a Holiday Inn Express hotel suggesting the demand for hotels makes the hotel part of the scheme more likely to succeed.
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