Contractor for Two Chamberlain Square announced
(News release Paradise Birmingham:) Birmingham, 14 February 2017 - Construction group BAM has been chosen to build Two Chamberlain Square, the second building in the first phase of the Paradise development. The 183,000 sq ft building is due for completion in 2019, shortly after One Chamberlain Square, and is being constructed on a speculative basis.
The Glenn Howells Architects design will feature elegant columns to reflect the architecture of the Town Hall, as well as full-length glazing with unrivalled views over Chamberlain Square. Opening out onto the redesigned public realm, Two Chamberlain Square will bring the public space to life, complementing some of Birmingham’s finest civic buildings including the Town Hall, Council House and Birmingham Museum and Art Gallery.
The enabling and infrastructure works for both buildings is already underway, with piling for the foundations for Two Chamberlain Square currently being drilled up to 20 metres into the ground. BAM will begin construction of the building itself in September 2017 following the completion of two levels of basement.
Chris Taylor, Head of Private Markets at Hermes Investment Management, said:
‘Our confidence in Birmingham is such that we are pushing ahead with the speculative development of Two Chamberlain Square. Paradise will transform the centre of Birmingham and we are excited to announce that BAM will be beginning construction next year ahead of a scheduled completion in 2019.’
Argent, the Development Manager for Paradise, has worked with BAM extensively. The contractor built seven of the eleven buildings at Brindleyplace, as well as buildings at its King’s Cross regeneration scheme.
Rob Groves, Regional Director at Argent, said:
‘BAM has a fantastic track record, which we’ve experienced first-hand at Brindleyplace and King’s Cross. In this case we were really impressed with the team’s understanding of the unique constraints of the Paradise site which is vital to the successful delivery of Two Chamberlain Square. This building, alongside One Chamberlain Square, is set to be one of Birmingham’s most impressive and is further evidence that exciting things are happening in the city. We are looking forward to working with BAM to bring Two Chamberlain Square to life.’
Rod Stiles, Regional Director for BAM Construction in the Midlands, said:
‘The confidence to move ahead with prestigious new offices at Two Chamberlain Square is a truly positive sign for the region’s economy. BAM has a great deal of experience building striking developments in Birmingham, and we’re delighted our expertise working with Glenn Howells, BAM Design and Arup has afforded us an opportunity to help deliver this exciting development. Argent and BAM started our industry leading partnership in 1994 with the first new building at Brindleyplace in Birmingham and have now delivered over 30 iconic and award winning buildings together.’
Construction of One Chamberlain Square is already underway, with completion expected in autumn 2018. The public realm enhancements to Chamberlain Square will also be implemented during this period and Two Chamberlain Square will complete in early 2019.
BAM has been appointed by a JV between Hermes Investment Management, the £28.6 billion manager focused on delivering superior, sustainable, risk adjusted returns to its clients – responsibly, and Canada Pension Plan Investment Board (CPPIB), a professional investment management organisation that invests on behalf of 18 million Canada Pension Plan contributors and beneficiaries.
The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by Hermes Investment Management which has partnered with Canada Pension Plan Investment Board (CPPIB) on the first phase of the development. Argent is the development manager.
A website showcasing the proposals for Paradise, in addition to a live time-lapse camera, can be viewed at www.paradisebirmingham.co.uk
For further details please contact: Louisa Grocott Core Marketing, T: 0121 232 5000, E: email@example.com
Hermes Investment Management
Hermes is focused on delivering superior, sustainable, risk adjusted returns for our clients – responsibly. Our goal is to help people invest better, retire better and create a better society for all.
Hermes manages assets on behalf of more than 330 clients* across equities, fixed income, alternatives and real estate, with £28.6 billion* assets under management. In Hermes EOS, we have the industry’s leading engagement resource, advising on £237 billion* of assets.
We believe in Excellence, Responsibility and Innovation
- Excellence: We aspire to excellence in everything we do. This manifests itself most visibly in our investment performance. We will only offer products to our clients where we believe there is a strong investment thesis and where we can deliver sustainable alpha.
- Responsibility: We believe it is our responsibility to lead discussion and debate about the fiduciary responsibilities of fund managers to our clients, their stakeholders and, ultimately, society at large. We have always sought positive engagement with the firms in which we invest.
- Innovation: We have the entrepreneurial culture to identify forward-looking products that meet those needs, along with the resources and speed-to-market mentality to develop them rapidly.
Our structure gives clients globally the benefit of access to a broad range of specialist, high conviction investment teams operating within an established and robust operating platform.
Hermes' investment solutions include:
- Private markets - International real estate, UK commercial real estate, UK private rental sector real estate, infrastructure and private equity
- High active share equities - Asia, global emerging markets, Europe, US, global, and small and mid cap
- Credit - Absolute return, global high yield, multi strategy, real estate debt, direct lending and global investment grade
- Multi asset - Multi asset inflation
- Responsible Investment Services - Corporate engagement, intelligent voting and public policy engagement
*Please note the total AUM figure includes £5.4bn of assets managed or under an advisory agreement by Hermes GPE LLP (“HGPE”), a joint venture between Hermes Fund Managers Limited (“HFM”) and GPE Partner Limited. HGPE is an independent entity and not part of the Hermes group. £0.2bn of total group AUM figure represents HFM mandates under advice. Source: Hermes as at 30 September 2016
Argent (Property Development) Services LLP is one of the UK’s best respected property development companies.
Argent developed and managed Brindleyplace which offers more than 1.1 million sq ft of office space, 30 restaurants, bars and cafés as well as leisure and recreational facilities. Brindleyplace is internationally recognised as an award winning benchmark for urban regeneration and has been responsible for leading the way in Birmingham’s continued transformation.
The Argent team – now restructured as a Partnership - has been developing for 30 years. Argent has built a strong track record in mixed use developments that combine office, residential, retail, leisure, hotels, cafés, restaurants and managed open space; and has become a leading practitioner of city centre regeneration. It aims to be the most respected and successful developer in the UK.
Argent focuses on just a few, exceptional schemes at any one time, working with landowners and other partners. In addition to the eight million sq ft emerging at King’s Cross in London, Argent’s CV includes the rejuvenation of Piccadilly (One Piccadilly Gardens, Piccadilly Place, The Hub, The Hive) and One St Peter’s Square in Manchester; Brindleyplace and Paradise Circus in Birmingham; the redevelopment of brownfield sites in the Thames Valley; and major commercial developments in the City of London.
For further information visit: www.argentllp.co.uk.