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The request follows an approach by Targetfollow to work with the council to explore how adjoining land owned by the two parties could be used as the site of a new mixed-use development comprising hotels, restaurants, student accommodation, offices, housing and retail units.
The Baskerville Wharf development would occupy a canal-side location linking Centenary Square and Cambridge Street to Farmer Locks. It would also further enhance plans to regenerate the Westside of the city, alongside developments such as Arena Central, The New Library of Birmingham and The V Building.
If approved, the development would occur on a site entirely owned by Targetfollow and the Council, with the authority retaining the freehold ownership of the land with the developer being granted a long leasehold of the site before work could commence.
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Cllr Neville Summerfield, Cabinet Member for Regeneration, said: "The initial proposals for Baskerville Wharf will boost Birmingham's standing as a global city, encouraging economic prosperity with a new development in an appealing canal-side location. It will fit in with the wider perspectives of Birmingham's Big City Plan, providing a prime site for investment, within a key area where people live and businesses operate."
Cabinet approval is being sought to enter into an exclusivity deal with Targetfollow, which would allow more detailed exploration work to take place. Further approval would be needed before any specific development work could commence.
Julian Wells, Development Director at Targetfollow, said: "Having set the standard with the regeneration of Baskerville House, Targetfollow is committed to the expansion of Westside and the success and growth of the city. Baskerville Wharf represents an exciting project for Birmingham with the potential for significant inward and national investment. With the city set to see £17 billion worth of inward investment in regeneration over the next decade, we want to play our part in this process.
"Targetfollow is committed to working closely with the principle cities in delivering such visions. This ensures that our development schemes will always meet a city's aspirations as well as the vision of local people, an approach that we will bring to Baskerville Wharf as our ideas progress."
The development site includes the existing Brindley Drive multi-storey car park, the Cambrian Halls of Residence, the Flapper Public House and other shared ownerships. Targetfollow has appointed a high quality and experienced project team to advance these proposals, including Feilden Clegg Bradley Architects and Martha Swartz.
Targetfollow is proposing to engage with the Council in order to progress the project toward a potential planning application in 2009.
(JM)
