Market Leads & Opportunities

Revised Rackhams store plan set for final say

Source: https://www.insidermedia.com/

A move to transform Rackhams department store in Birmingham city centre into an office scheme with bars, restaurants, cafés, retail space and a 200-room hotel is set to be decided. If approved, about 2,000 jobs are expected to be created.Legal and General, which bought the building in 2015, is behind the bid for the Rackhams store in Corporation Street as well as the next door 43 Temple Row which has been earmarked for a 200-bedroom hotel.The go-ahead has been recommended by Birmingham City Council’s planning department ahead of a vote by members of the committee set for Thursday 19 December.Councillors voted in May to delay making a final decision in order for more information to be provided.Since the original committee meeting, the scheme has been partially redesigned.If the green light is given, the complex would be converted into about 500,000 sq ft of office space and about 105,000 sq ft of space for retail, leisure and catering.”The redevelopment of 71 Corporation Street and 43 Temple Row is a significant investment for Birmingham city centre, responding to the changing nature of the high street.The department store had been earmarked for closure by House of Fraser after Sports Direct bought the business in 2018 but in October staff reported that it had been saved.Construction of the Rackhams building started in 1957 and was opened in stages between 1960 and 1966. Legal and General bought the site in 2015.