Sector: Regeneration & Commercial, Residential, Retail
Pegasus Group are working with Manchester-based property investment company, MCR Property Group, and Leach Rhodes Walker Architects to deliver more than a thousand new homes on Birmingham’s long standing vacant Monaco House complex.
The £275 million urban village, named New Monaco, will completely transform the seven acre site on Bristol Street into a unique village community on the fringe of the city centre.
Two towers, 26 and 29 storeys respectively, will stand alongside apartment blocks and townhouses at the heart of the Built-To-Rent scheme, providing more than a thousand one, two and three-bedroom homes for rent.
Plans for the new city centre community include 1,500 sq. m. of space for retail, food and residential use, comprising ground-floor shops, cafes and bars; landscaped public and private open areas and pedestrian walkways.
Residents will also benefit from facilities including two levels of basement car parking, a concierge, an on-site gym and cycle club.
The development will provide striking new architecture onto Bristol Street and a new street will link nearby Vere Street with Wrentham Street to connect surrounding city centre locations.
Demolition of Monaco House is currently underway. Construction is set to commence at the end of 2018 and is estimated to be completed in 2023. Once completed, the units will be sold via Regency Residential, MCR Property Group’s residential arm.
Chris Taylor, fund manager at MCR Property Group, said: “We’re incredibly proud of the final plans for New Monaco. Everything has been designed to enhance the vacant land and deliver well-designed, high-quality, affordable housing for Birmingham residents and enrich the city centre for generations to come.”
David Onions, Director at Pegasus Group, said: ‘‘Monaco House has been an unattractive part of Bristol Street for many years and this major new development will result in a dramatic improvement to this part of the city centre, aiding significant revitalisation of Birmingham’s Southside area and meeting the city’s growing housing needs.”
Christian Gilham, director at Leach Rhodes Walker architects, said: “This purpose-designed urban village will set a fresh benchmark for the quality of city centre living in Birmingham. The scheme embraces high quality, durable designs and revitalises this prominent Bristol Street site to create a new community focused around two new, landmark residential towers.”
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