Paradise is in Birmingham – and that’s official!
Avid BLG blog readers (yes I know you are out there) will know I have written about the transformation of Birmingham city centre before. I’m watching it with interest as I have a fondness for large scale urban regeneration. Developments such as Grand Central and the revamped Bull Ring have put the city right back on the map when it comes to major investment projects.
So, we now have the next phase of the Paradise Square development on the way, with planning permission submitted and some very impressive plans for the site. You will recall phase one was a tad bumpy as Carillion went into liquidation back in 2018. Seems like it was longer ago than that, to be honest. Anyway, Bam Construct finished that one and it is mighty nice too.
Phase 2 will see the building of a hotel and commercial properties, as well offices that are already underway and of course the residential tower, Octagon. Completion expected by the end of 2023, so keep your eyes open as this very impressive £700m development continues to push on despite numerous other developments having stalled mid 2021 (see last month’s blog for details).
With developments now pushing on again and gathering pace, we are seeing a growth in enquiries for Latent Defects Insurance, which provides a ten year guarantee on the structure and weatherproofing. Owners like the safety net, funders like the protection and leaseholders like the knowledge that such liabilities are insured – so everyone likes it basically! If you need advice on Latent Defects Insurance then get in touch. It’s what we do.