Work on the One Eastside scheme, which will be one of Birmingham’s tallest buildings, will begin this month. This is after a £200 million funding agreement was achieved. Court Collaboration, a City-based developer, has partnered with Pension Insurance Corporation for the project. The One Eastside scheme will be located on the doorstep of the new HS2 station on Curzon Street.
The project will be built at the intersection of Jennens Road and James Watt Queensway. It will include two buildings of 16 and 51 storeys, as well as a third pavilion building. On the 51st floor, there will be 667 rentable apartments, residential gardens and courtyards, a gym, a cinema, and a sky lounge. The larger of the two towers, at 525 feet, would be taller than Birmingham’s current tallest structure, the BT Tower in the Jewellery Quarter.
It is the first project of a new joint venture between Court Collaboration and the family office of renowned West Midlands developer Sir Tony Gallagher. Consequently, construction is expected to take four years.
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One Eastside to provide a number of economic benefits during the construction phase
Over 300 new jobs will be created as part of the One Eastside project. Furthermore, an academy will be established to provide opportunities for hundreds of local students. It will also include work placements and on-site course opportunities and experience.
The CEAC teaching house previously occupied the development site. Later in autumn 2018, it was obtained from Birmingham Metropolitan College and demolished. One Eastside has since overcome several roadblocks to reach this point. This also includes objections from the owners of another apartment building on the Exchange Square site directly opposite before finally receiving the green light 18 months ago.
Anthony McCourt, the founder, and CEO of Court Collaboration stated: “Pension Insurance Corporation’s £200 million investment demonstrates that Birmingham’s confidence in the build-to-rent sector is growing. This agreement is yet another huge vote of confidence in both us and Birmingham, which is riding high on the back of the Commonwealth Games ‘Be Bold’ achievement. Birmingham’s progress cannot and will not be halted, and the project team deserves genuine credit.”
