Who is behind the potential redevelopment?

A significant part of the land within Paradise Circus is owned or controlled by Birmingham City Council and nationally renowned developer, Argent.

A Joint Venture between Birmingham City Council and British Telecom Pension Scheme (BTPS), managed by Hermes Real Estate Investment Management Limited (HREIML), the financial backers of Argent has been approved by the City Council. This approval sets the seal on delivery of the scheme that will transform the Paradise Circus area of the city centre.

With the establishment of the Joint Venture, the detailed planning, design and marketing of the first phase of the project is now certain to go ahead - with the £61 million investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) providing funding for the infrastructure and site preparation.

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.

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