The hunt is on for a development partner to build a new student accommodation block containing more than 300 apartments in Birmingham city centre.
Benacre Properties has received the green light to turn the Gallan Group car park, on the corner of Pershore and Upper Dean streets near the Wholesale Markets, into a mixed-use scheme containing 323 studios, five commercial units totalling 7,530 sq ft and bike and car parking.
The ten-storey project would involve the retention and incorporation of a Grade II-listed building at 42-45 Upper Dean Street as the main entrance into the student block.
Suffolk-based Benacre, which is part of the historic Gooch Estate and behind another student project at 96-104 Bristol Street, is looking to sell the long lease to a developer after plans were lodged at the turn of the year.
The development in the city's Southside district has been designed by Jewellery Quarter firm Chetwoods Architects and is one of several student accommodation schemes currently in the pipeline around Birmingham.
Charles Gillett, from chartered surveyor Pennycuick Collins which represents Benacre, said the project could kick-start a generation of development in this area of the city.
"This is a prime site that sits within the proposed Birmingham Smithfield masterplan area recently unveiled by the city council at MIPIM and a scheme of this quality very much fits in the aspirations of that project," he said.
"Southside has seen significant improvements in recent years through a number of quality residential schemes and the works of the BID and Benacre has already seen from its previous projects in the area that there remains strong demand for this kind of accommodation.
"Being equidistant from the new John Lewis and the existing Selfridges, and with a exciting vision proposed to replace the wholesale markets as well as being on the edge of an expanding Chinatown, this development is likely to be a very attractive proposition to international students particularly or anyone who wants to be right at the head of one of the most vibrant districts of the city."
The Gooch family was one of the founding families of modern Birmingham and the still retains significant landholdings in Southside and Digbeth.
Birmingham Properties Company and Savills also provided consultancy on the scheme.