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Birmingham Post
Birmingham Post
Business
Tamlyn Jones

Milestone reached for Birmingham apartment project

One of Birmingham's largest new residential developments has topped out.

The first phase of Exchange Square in The Priory Queensway has 603 apartments along with commercial and leisure space, a roof garden and gym.

Manchester-based developer Nikal is behind the project which has been branded 'Allegro'.

The first two buildings of the scheme, which is for rent only, are now complete and the final 27-storey tower is due for completion in November.

Main contractor Sir Robert McAlpine joined staff from Nikal and LaSalle Investment Management, which agreed a £105 million forward funding deal for phase one in 2016, at a ceremony in the city.

Hector McAlpine, executive partner of Sir Robert McAlpine, said: "We are proud to be part of the team to deliver luxury rental apartments and to play our role in enabling tenants to live in a new urban village in the centre of Birmingham."

Nikal's co-founder and managing director Nick Payne added: "This is a significant milestone in our history with this site and with Birmingham.

"This project has employed over 500 people, 60 per cent of them from the local area, and it contains over one million bricks.

"It is a pleasure to be able to say that, along with our esteemed colleagues at LaSalle, Sir Robert McAlpine and all their trusted contractors and suppliers, we built this."

Exchange Square in Birmingham city centre (Exchange Square in Birmingham city centre)

Exchange Square is the latest element in Nikal's regeneration of the land around the old Masshouse Circus island which has already seen apartment blocks Masshouse and The Hive completed.

Phase two of Exchange Square is set to contain a new 235-bedroom Premier Inn hotel, Bar + Block restaurant and 375 apartments in two towers of 30 and 34 storeys respectively.

An application for the project was lodged with Birmingham City Council in April and is currently going through the planning process.

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