UK: Vita Group has bought the Axis Square site in Birmingham from LCR, a commercial development and placemaking specialist.
Described as one of Birmingham city centre’s most exciting development opportunities, the site has planning consent for a mixed-use development, currently named Goods Station. Vita Group will consult later in the year on a new masterplan, which will include BTR homes.
Formerly Birmingham Central Goods Station, the Axis Square site covers around 4.15 acres. The site is adjacent to The Mailbox and Arena Central developments, making it a prime location for regeneration.
Mark Oakes, chief commercial officer at Vita Group, said: “Axis Square is an incredible opportunity, situated in the heart of the city centre, it offers bags of potential to do something special, something which the city can be proud of, something which brings the city together to create a vibrant destination. It’s been great to work with LCR and we look forward to being able share our ideas with the council and public later in the year.”
“Goods Station has the opportunity of becoming a true landmark destination within the city, fantastic places to live which attract talent, add to the growing economy and draw in tourism,” he added.
Peter Hawthorne, CEO of LCR, said: “We’re delighted to complete this deal with Vita Group. We have been working for a number of years to help the site realise its potential through enabling wide-scale regeneration, and are now excited to be able to handover to Vita to continue the transformation that we started and create a vibrant new destination in the city centre. Vita’s track record for creating outstanding masterplan developments, which add to the cities they operate within, makes them the perfect developer to realise this potential and do something which not only satisfies a need within the city, but adds to it.”
More details of Vita group’s plans for the site will be announced on May 1 2023.
Savills provided agency services on the deal, Deloitte and Shoosmiths provided legal counsel for Vita Group, and Eversheds Sutherland acted for LCR.
