Developer secures major Birmingham city centre regeneration site

Urban regeneration specialist Vita Group has completed a deal with LCR to purchase a major regeneration site in Birmingham city centre.Axis Square was formerly Birmingham Central Goods Station and the site spans approximately 4.15 acres and is situated adjacent to The Mailbox and Arena Central.Mark Oakes, Vita Group chief commercial officer, 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.”The site currently has planning consent for a mixed-use development however, Vita Group will consult later in the year on a new masterplan paving the way for a mixed residential development, under the name of Goods Station, with further detail to be announced on May 1.Peter Hawthorne, COO for 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.”Oakes added: “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.”Savills provided agency services on the deal with Deloitte and Shoosmiths providing legal counsel for Vita Group and Eversheds Sutherland acting for LCR.