Who is behind the potential redevelopment?

Birmingham City Council and nationally renowned developer Argent own or control a significant part of the land within Paradise Circus. They signed a two year exclusivity agreement in February 2009 to prepare the way for the potential redevelopment of Paradise Circus by working towards signing a Joint Venture Agreement during 2010.

What does the exclusivity agreement mean?

The exclusivity agreement binds the City Council and Argent to agree to negotiate solely with each other and not involve other parties. The agreement has enabled Argent to commit funds to explore the redevelopment opportunities of the site, prior to entering into a landowner Joint Venture agreement for the redevelopment.

What happens next?

Once the parameters and constraints for potential redevelopment have been established, it is anticipated that a landowner Joint Venture agreement between Argent and Birmingham City Council will be signed during 2012.

What is a Joint Venture?

A joint venture is an association of firms or organisations formed to undertake a specific business project - in this case the redevelopment of their joint land ownership in Paradise Circus.

Proposed Timetable: