Kier Property purchases Arena Central
Kier Property, the development division of Kier Group, has secured the purchase of Arena Central in Birmingham from Miller Developments.
This is a significant regeneration project which will be undertaken by Kier Property and enhances its development activities in the West Midlands.
The opportunity will provide Kier Property with the rights to develop three further phases of the site’s existing master plan. One Centenary Square has recently been occupied by HSBC and in late 2020, the Office of Government Property (OGP), formerly the Government Property Unit (GPU) for HMRC will occupy 3 Arena Central – Kier Property will take responsibility for delivering this building.
The site sits within close proximity to the International Convention Centre (ICC), the Library of Birmingham and Arena Birmingham (formerly the National Indoor Arena – NIA). It is within walking distance of New Street station and Snow Hill station, along with the prime office core of Colmore Row and the retail areas; the Bullring and Brindley Place.
The main elements of the development will include Kier Property developing three office buildings, totalling 526,009 sq ft. The buildings known as 5 Centenary Square, 4 Arena Central and 5 Arena Central will be phased over the next 5-7 years.
The site is within the Birmingham City Centre Enterprise Zone and therefore benefits from simplified planning and business rate savings. This scheme is part of a major redevelopment of 10 buildings consisting of offices, shops, bars, cafes, restaurants and a hotel through to Q4 2026.
Tom Gilman managing director for Kier Property North commented: “We are delighted to announce the purchase of this significant 9.2 acre development opportunity at Arena Central. This acquisition will substantially increase our activities in the West Midlands and will enable Kier to continue the development of the area as a place where people will want to work, shop and socialise in Birmingham.”
Andrew Sutherland, Miller Developments added: “Having been involved in the project for a number of years, Arena Central is now firmly established as one of Birmingham’s prime office locations, and we’re delighted to hand the baton to an organisation of Kier Property’s calibre for delivery of the remaining phases.”
Pinsent Masons/CBRE/HFF acted for ACDL and Eversheds/JLL acted for Kier Property.Back