A section 106 agreement was recently signed between Woodbourne Group and Birmingham City Council for Curzon Wharf, the world’s first mixed-use net zero carbon ready development.
Commonly referred to as S106 agreement, section 106 agreement is a legally binding agreement or “planning obligation” between a local planning authority and a property developer. The purpose of the agreement is to mitigate the impact of the development on the local community and infrastructure.
It sets out the terms binding on the owners or developer to provide, facilitate or fund the provision of infrastructure, services or other measures that may be needed for the development to be acceptable in planning terms. The agreement may also relate to measures on or off-site and may restrict development for example pending the satisfactory performance of measures or development coordination.
Woodbourne Group is thus expected to ensure that the development has at least 51% of the residential units in two or three bedrooms. The developer will also increase the affordable housing provided at the Curzon Wharf from 3% to 5% as well as ensure that rent will not exceed 80% of the local market average, including service charge.
Furthermore, Woodbourne Group is expected to carry out £2.49m public realm works and make a canal improvement contribution of £20k.
Another crucial step for Curzon Wharf development
The section 106 agreement, which comes approximately 33 months since the project was first publicly announced in March 2021 and about 10 months since its developer was granted planning consent in April 2023, is reportedly an important step towards the realization of the world’s first mixed-use net zero carbon ready development.
Speaking on the agreement, Tani Dulay, the chief executive of Woodbourne Group said that the signing of the Section 106 agreement is a significant stride towards shaping the future of Birmingham Knowledge Quarter and the city. Dulay also acknowledged the years of unwavering determination as well as relentless work ethic that the project team and partners have upheld to reach this milestone.
Councillor John Cotton, the leader of Birmingham City Council, on the other hand, expressed his delight with the progress that has been made on “this truly groundbreaking development.”
“The Section 106 agreement is a crucial step forward for Curzon Wharf, an exciting masterplan that builds on Birmingham’s ambition to be a greener, more dynamic and sustainable city. Woodbourne Group’s bold vision has acted as a catalyst for the rejuvenation of this area. We look forward to Curzon Wharf development being brought to life and becoming a key piece of the Birmingham skyline,” said Councillor Cotton.
A testament to Woodbourne Group’s vision and hard work
Lastly, Andy Street, the Mayor of the West Midlands, said that the signing of the section 106 agreement is another significant milestone for Tani and his team at Woodbourne Group.
“Furthermore,” said Mayor Andy, “the signing of the section 106 agreement is a testament to their vision and hard work as well as their intent on delivering a bold vision for Birmingham, a vision that we wholeheartedly welcome. I wish them continued success in the months ahead.”