Arena Central Developments and HSBC have signed the largest property deal in Birmingham since 2002, paving the way for new jobs and boosting economic growth.
Building work is set start on 2 Arena Central in the summer and will be handed over to HSBC in mid-2017 for occupation from early 2018.
HSBC will forward purchase the 210,000 sq ft 2 Arena Central, which will be the head office of HSBC’s UK ring-fenced bank serving personal and business customers.
Designed by renowned architect Ken Shuttleworth of Make Architects, the building has the capacity to accommodate up to 2,500 people and will be the first in Birmingham to be constructed to LEED (Leadership in Environmental and Energy Design) Gold accreditation.
Birmingham is already home to more than 2,500 HSBC employees and around 1,000 head office roles will move from London to Birmingham before 1 January 2019.
Situated in the heart of Birmingham’s city centre Enterprise Zone, the 9.2 acre Arena Central site has been masterplanned to deliver over 1million sqft of office lead, mixed use development.
The deal will include the delivery of nearly £10 million of new public realm designed by landscape architects, Gillespies featuring over 50 per cent soft landscaping.
Arena Central is being delivered by ACDL, a joint venture between Miller Developments and Pro Vinci Asset Management.
Phil Miller, Chief Executive Miller Developments, said: “The two teams have worked tirelessly to deliver what is the most significant deal in Birmingham for over a decade and will redefine the westside of Birmingham.
“This is great news for both Birmingham and for Arena Central and builds on the city’s burgeoning reputation as a leading centre for professional and financial services operators. We will continue to work with HSBC throughout the construction of 2 Arena Central to ensure the delivery of a first-class, tailor-made commercial environment.”
Sir Albert Bore, Leader of Birmingham City Council, said: “This all contributes to Birmingham’s ongoing redevelopment, exemplified through investments such as the £550 million refurbishment of New Street Station, extension to the Midland Metro tram and galvanisation of the city’s network of public and private sector partnerships.”