Detailed plans have been submitted for Three Snowhill meaning up to 400,000 sq ft of badly-needed office space is en route.
Developer Ballymore is behind the plans which will take the total area of the Snowhill estate to almost 1 million sq ft.
The Post understands several global firms have expressed early interest in taking space on the scheme.
The announcement was made at global real estate show MIPIM today (March 12), following a presentation about the Snow Hill Masterplan – which covers the area in which the project is based – on the Greater Birmingham stand.
The scheme will offer 360,000 sq ft of Grade A offices over 16 storeys, complemented with 40,000 sq ft of leisure and retail space, and parking spaces over four floors.
Ballymore project director Richard Probert said: “This is the right time to move forward with Three Snowhill. We were encouraged to push ahead with the scheme after securing the letting of the last available space in Two Snowhill to HS2, and seeing the launch of the Snow Hill Masterplan – which demonstrates the ambition and strategic vision needed to enhance and grow Birmingham city centre’s valuable business district. The Masterplan aims to attract more investment, business and people into the city – and we are aiming to capitalise on these plans with the delivery of Three Snowhill.”
Ballymore previously secured outline consent for Three Snowhill in 2013.
The announcement follows the unveiling of the city’s 20-year Snow Hill Masterplan by Birmingham City Council and the Colmore Business District last month.
Covering the Snow Hill and Colmore areas of the city, it provides a framework to create 10,000 new jobs, generate over 200,000 sq m of new office space, and boost the local economy by over £600 million each year.
Sir Albert Bore, leader of Birmingham City Council, said: “Despite a number of major schemes completing this year – such as New Street Station and Grand Central – we have several others on the horizon, including Paradise and Arena Central, which will continue to transform our city.”
One Snowhill was completed in 2009 and now has high-profile tenants including KPMG, Barclays Bank and DWF.
Two Snowhill opened in 2013 and has attracted organisations including global law firm Wragge Lawrence Graham & Co and the new construction headquarters for HS2, which will create 1,500 jobs.
Andy Street, chairman of the Greater Birmingham and Solihull LEP, said: “The success of Two Snowhill highlights that leveraging public sector funding can directly lead to fresh private sector investment, new jobs and the broadening of key industries as new companies are enticed here. While the EZ has helped to deliver some 60,000 sqm of developments in Birmingham city centre last year, it will start to generate economic growth across the wider Greater Birmingham area through our £275 million EZ Investment Plan.”
Waheed Nazir, director for planning and regeneration at the city council, added: “Three Snowhill will be an exciting new addition to the sites being built in Birmingham to cater for an increase in demand from businesses for quality office space. With the city expected to experience a shortage of grade A supply by the end of the year, it is welcome news that Three Snowhill is now moving forward.”