Eastside Locks Vision Comes tTo Life With Planning Submission

May 29 2008

Eastside Locks - the £450 million mixed use regeneration scheme located in Birmingham city centre - moved a step closer today when an outline planning submission was made. The £1.8 billion Arlington Business Parks Partnership fund (ABPP), which is managed by international property group Goodman, together with joint venture partner Advantage West Midlands, submitted the plans which outline the proposed vision for the site and how it will evolve into 1.4 million square feet of offices, city living, a hotel, retail and leisure space.

When completed, Eastside Locks (formally known as Ventureast) will become a 13 acre scheme featuring high quality, urban mixed-use sustainable development, boosting the regeneration of Birmingham's Eastside and helping create up to 5,000 jobs.

The masterplan demonstrates how Eastside Locks - with the Digbeth canal running prominently through the scheme and the proposed city park bordering it - has been designed to create a vibrant business and living environment with a strong emphasis on new, exciting public spaces. Renamed Eastside Locks in April to acknowledge the area's industrial and canal-side heritage, and to put Birmingham City Centre's wider Eastside regeneration aspirations on the map, the full mix of uses include:

• Office: 686,000 sq. ft of low density, quality office space. It will benefit from large floor plates giving flexible options, able to accommodate businesses in headquarter style buildings
• Hotel: This quality hotel will have 175 rooms and amenities including a restaurant, bar and gym, spread across 94,184 sq. ft
• Retail and leisure 103,000 sq ft will be set aside to house retailers. Goodman aims to attract high quality restaurants, café bars, brasseries and convenience retail
• Office space for small and medium sized enterprises: 50,000 sq. ft. of further quality flexible office space to support growth companies within the media and learning sectors
• Residential: 352,819 sq. ft. of residential space in a mix of styles

Jim Johnston, Goodman's Managing Director for UK Business Parks commented: 'These plans demonstrate how much work has been undertaken to make Eastside Locks a unique and vibrant mixed use environment. We are confident that the foundations are now in place to make Eastside Locks an exceptional sustainable scheme for businesses, the local community and Eastside, further strengthening Birmingham as a leading global city.'

Luke Schuberth, director at International architect group AukettFitzroyRobinson who undertook the masterplanning for the site commented: "Eastside Locks is a unique regeneration opportunity and we have gone to great lengths to capture its essence. Influences such as the vibrancy of public realm in Barcelona have helped inspire the team, but it is the jewels within the actual site that have lifted the masterplan. The canal with its locks, the new city park and the historic urban fabric have all helped in creating a new exciting city centre environment."

Mick Laverty, Advantage West Midlands Chief Executive, said: 'There is no doubt that Eastside Locks ranks as one of the most exciting and important city centre regeneration programmes anywhere in Europe at the moment. The planning process will represent a major step forward as we work with our partners in the joint venture to deliver a thriving and dynamic extension to the centre of Birmingham.'

In August 2007 Goodman, alongside joint venture partners Advantage West Midlands and Birmingham City Council, finalised the development agreement outlining their commitment to deliver Eastside Locks.

Goodman has an exemplary track record of owning, developing and managing high quality mixed use business space throughout the UK. As well as Eastside Locks, Goodman is also behind Birmingham Business Park where 100 businesses are located, employing 5,500 people. Other interests in the Midlands include Colton Square, Leicester, a 150,000 sq ft mixed use city centre regeneration development in partnership with the East Midlands Development Agency and Leicester Regeneration Company.

The development is part of Goodman's £1.8 billion ABPP fund, which owns 22 other assets across the UK. Jointly managed alongside Legal and General, it is one of the largest specialist business space funds in the UK. Goodman has a track record of creating mixed-use environments such as Hatfield Business Park, Gloucester Business Park and Oxford Business Park, delivering headquarter developments for customers including GMAC, T-Mobile, NATS and Cadbury.

Goodman also has a reputation for creating sustainable developments, including the award winning Oxfam headquarters on Oxford Business Park. It has consistently been ranked as one of the industry's most sustainable developers, having being ranked top in the 2003, 2005 and 2006 Property Environment Group benchmarking study.

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