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Hammerson goes solo on Martineau site

Published:  30 March, 2015

Hammerson has bought out its development partners in the key Martineau Galleries site in Birmingham city centre

Hammerson has bought out Land Securities and Phoenix Group’s stakes in the Martineau Galleries site in Birmingham city centre, which has to have formed the final phase of the Birmingham Alliance’s regeneration of the city centre that began with the Bullring development in 2003.

In 2006 Birmingham City Council granted consent for a 2 million-sq ft redevelopment of the 14-acre site including 915,000 sq ft of retail, along with significant office, leisure and residential space. And in 2007 it signed a development agreement with the Birmingham Alliance but the scheme fell victim to the recession and the development agreement lapsed last year.

In the interim plans have emerged for a new HS2 terminus at Curzon Street meaning the Martineau Galleries site will become a key gateway to the city centre. Hammerson confirmed the acquisition but would not elaborate on its plans for the site.