The basement of the building will feature Birmingham’s first dedicated cycle hub with space for 330 bikes, showers, storage and maintenance facilities opening next year. A large gym and wellness centre is also planned for the lower ground floor, overlooking the new Western Terrace public realm being created as part of the next phase of development.
The building marks the first part of Phase Two of the ground-breaking, 2 million sq ft, £1.2 billion Paradise estate, a new destination at the heart of the city creating thousands of new jobs, new skills, new homes and amenities across up to ten buildings.
This includes the world record breaking Octagon residential tower at 49 storeys, or 155 metres tall, and the development’s multiple award-winning first two commercial buildings, One Chamberlain Square and Two Chamberlain Square, both of which face onto the city’s premier public space.
The first phase of the development also includes a number of high-quality leisure operators, namely Vinoteca and Rosa’s Thai at Two Chamberlain Square, and Dishoom and Albert’s Schloss at One Chamberlain Square.
As an important contributor to regional growth, Paradise is committed to creating high quality new pedestrian streets and squares for everyone to enjoy, as well as improving public transport links across the city. Early work on the access and transport links around Paradise were supported by Greater Birmingham Local Enterprise Partnership (GBSLEP).
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 the international business of Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments) on the first phase of the development and for One Centenary Way. MEPC is the development and asset manager.
Paradise sits in the country’s largest city centre Enterprise Zone and has already benefited from investment by the GBSLEP in enabling and infrastructure works.
A website showcasing the vision for Paradise, in addition to live time-lapse cameras and all the latest news about the development, can be viewed at www.paradisebirmingham.co.uk