194
bed apart-hotel
Newhall Square, Birmingham
Newhall Square is a residential-led mixed-use development that forms part of Birmingham’s ‘Big City Plan’. The first phase provides a 194-bed apart-hotel and office accommodation, with the second phase split across three plots to develop 219 apartments, 6 townhouses and three retail lots.
Key details
Project name
Newhall Square
Client
Legal & General
Location
Birmingham
Services provided
- Technical due diligence
- Development monitoring
- Independent certifier
Challenge
For the initial Due Diligence report, we started the process by reviewing all information received by the Developer and producing an Information Required Schedule, which scheduled all the key information our Client would need. At this early stage, we lacked sufficient information, however producing a comprehensive report was key for our client to obtain the necessary funder agreements.
The second phase, split across three plots, included 79 apartments with ground level car parking, along with the conversion of a listed building into a residents' clubhouse. Further plots encompassed the development of 136 apartments, three retail/commercial spaces and six townhouses, as well as extensive re-leveling and landscaping to form part of the new square.
Solution
In order to help our client secure funding, we arranged a meeting with the prospective funders to understand their minimal requirements and agreed with the developer how this information could be received along with any alternative assurances they could provide. This led to our recommendation of an extension to the unconditional requirements to include items such as a satisfactory Ground Investigation verification report and execution of appointments with third parties.
Project statistics
219
residential apartments
6
townhouses
3
retail lots
Project timeline
September 2017
Date of Planning Consent (subject to conditions)
November 2017
Development Agreement Unconditional
December 2017
Start on site
September 2019
Sectional Completion Plot 1
April 2020
Sectional Completion Plot 2