Pegasus Group has gained planning permission on behalf of Manchester-based property investment company, MCR Property Group, to build over 1,000 new homes and two landmark towers on Birmingham’s Monaco House complex.
Named New Monaco, the £275 million urban village will completely transform the seven acre site on Bristol Street into a unique village community on the fringe of the city centre.
11 apartment blocks ranging between five – 10 storeys will sit alongside two prominent towers of 26 and 29 storeys, to provide 1,009 homes, including 92 affordable private rental properties.
Plans for the development also include a 7,588 sq. ft. residential hub and 16,285 sq. ft. of commercial space.
The mix of one, two and three-bedroom apartments and townhouses will be managed by a single company and enable residents to upsize or downsize within the development as their lifestyle changes.
Located on prominent brownfield land once home to the now demolished Monaco House, construction will start at the end of 2018 and is expected to be completed in 2023.
Comprising ground-floor shops, cafes and bars as well as landscaped public and private open areas and pedestrian walkways, New Monaco residents will also have access to 335 underground car park spaces, a concierge service, on-site gym and cycle club.
A new road will link nearby Vere Street with Wrentham Street to connect the development to its surrounding city centre locations.
Architects, Leach Rhodes Walker worked with MCR Property Group and Pegasus Group to bring the ambitious project to life.
Chris Taylor, fund manager at MCR Property Group, said: “Investment into Birmingham’s Southside area has become vital to improving the levels of high quality housing stock in the city. Receiving the go ahead for our New Monaco development means we can provide much-needed homes to Birmingham residents while carving an exciting new identity for the neglected Monaco House site.”
David Onions, Planning Director said: ‘‘New Monaco 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.
“We are delighted that these exciting plans to create a purpose-designed urban village with retail, food and residential use and are now set to become a reality.”
Christian Gilham, managing director at Leach Rhodes Walker Architects, said: “We have worked hard with the city to deliver an exceptional scheme, which we believe will set the standard for new rental development, and high quality public and private spaces.
“The two towers will mark the location with a striking skyline and with their dynamic architectural facades, signpost and identify this location from the city centre.”
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