One Chamberlain Square back on track

BAM Construction, which is currently building Two Chamberlain Square, will now manage the completion of One Chamberlain Square and the existing building supply chain. Work was halted on the building on 15 January 2018 when the original contactor, Carillion, went into liquidation.

The building, which topped out in December last year, will be handed over to leading international professional services firm PwC in early 2019 for its Birmingham office relocation.

The majority of subcontractors who were working on the building will now return from 23 March when BAM formally takes over the site.

Demolition contractor DSM has remained active on site at Paradise throughout the winter period maintaining the programme for Two Chamberlain Square.

Chris Taylor, Head of Private Markets at Hermes Investment Management, said: ‘Paradise Birmingham is one of the leading mixed use developments in the UK. This transformational scheme will create up to 10,000 new jobs as well as support thousands more across Birmingham and the region. Thanks to a sterling effort by the wider Paradise team and our supporting supply chain, we look forward to both of our first new buildings completing during 2019.’

Rob Groves, Regional Director of developer manager Argent, said: ‘Ever since Carillion went into liquidation on 15 January we have been working hard behind the scenes to ensure disruption to Paradise was kept to a minimum. Having BAM on board for the building along with remaining close to subcontractors and the supply chain means we are now able to move ahead with getting One Chamberlain Square completed as soon as we can. We will be very pleased to see contractors back on site later this month and the building progressing towards completion over the next year.’

Rod Stiles, Regional Director for BAM Construction in the Midlands, said: ‘Our work on Two Chamberlain Square started last month and having already taken on many of Carillion’s high calibre existing team we are now working closely with the existing supply chain to recommence construction on One Chamberlain Square as well. Our ability to work efficiently and fairly with the supply chain is one of the factors that distinguish BAM’s approach to collaborative construction and is an integral part of our ability to solve problems. Paradise Birmingham is a critical part of this city’s development. We’re delighted to be so intimately involved.’

Leader of Birmingham City Council, Cllr Ian Ward, said: ‘Paradise Birmingham is central to our wider regeneration vision for the city. It is vital to the local economy, so to get a new main contractor on board in the shape of BAM to complete One Chamberlain Square is an important next step. This move not only supports existing jobs in the supply chain but also helps to secure local construction skills. Completing the first new buildings at Paradise next year will transform the historic civic space in the heart of the city and help us fulfil the potential of this vitally important development.’

At 1.8 million square feet, Paradise Birmingham will deliver up to ten new flagship buildings, offering offices, shops, bars, cafés, restaurants and a four star hotel across 17 acres. The Paradise Birmingham redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding for Phase One and Two is being managed by Hermes Investment Management which has partnered with Canada Pension Plan Investment Board (CPPIB) on the first phase of the development. Argent is the development manager.

Paradise Birmingham sits within the country’s largest city centre Enterprise Zone and has already benefited from investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) in enabling and infrastructure works.

A website showcasing the vision for Paradise Birmingham, in addition to a live time-lapse camera, can be viewed at www.paradisebirmingham.co.uk.

For further details please contact

Perry Buck, Core Marketing,

T: 0121 232 5000

E: perrybuck@core-marketing.co.uk

Notes to Editors

Hermes Investment Management

We are an asset manager with a difference. We believe that, while our primary purpose is helping beneficiaries retire better by providing world class active investment management and stewardship services, our role goes further. We believe we have a duty to deliver holistic returns – outcomes for our clients that go far beyond the financial and consider the impact our decisions have on society, the environment and the wider world.

Our goal is to help people invest better, retire better and create a better society for all.

We offer clients access to a broad range of specialist, high conviction investment teams with £33.0 billion* assets under management. In Hermes EOS, we have one of the industry’s leading engagement resource, advising on £336.1 billion* of assets.

Hermes' investment solutions include:

• Private markets – Infrastructure, private debt, private equity and real estate
• High active share equities - Asia, global emerging markets, Europe, US, global, and small and mid cap
• Credit - Absolute return, global high yield, multi strategy and global investment grade
• Multi asset - Multi asset inflation
• Stewardship – Active engagement, intelligent voting, sustainable development and advocacy

* Please note the total AUM figure includes £5.8bn of assets managed or under an advisory agreement by Hermes GPE LLP (“HGPE”), a joint venture between Hermes Fund Managers Limited ("HFM") and GPE Partner Limited. HGPE is an independent entity and not part of the Hermes group. £125.8m of total group AUM figure represents HFM mandates under advice. Source: Hermes as at 31 December 2017 with the exception of one portfolio totalling £9.9m valued as at 30 September 2017, and one portfolio totalling £2.7m valued as at 30 June 2017.

Argent

Argent (Property Development) Services LLP is one of the UK’s best respected property development companies. 

Argent developed and managed Brindleyplace which offers more than 1.1 million sq ft of office space, 30 restaurants, bars and cafés as well as leisure and recreational facilities. Brindleyplace is internationally recognised as an award winning benchmark for urban regeneration and has been responsible for leading the way in Birmingham’s continued transformation.

The Argent team – now restructured as a Partnership - has been developing for 30 years. Argent has built a strong track record in mixed use developments that combine office, residential, retail, leisure, hotels, cafés, restaurants and managed open space; and has become a leading practitioner of city centre regeneration. It aims to be the most respected and successful developer in the UK.

Argent focuses on just a few, exceptional schemes at any one time, working with landowners and other partners. In addition to the eight million sq ft emerging at King’s Cross in London, Argent’s CV includes the rejuvenation of Piccadilly (One Piccadilly Gardens, Piccadilly Place, The Hub, The Hive) and One St Peter’s Square in Manchester; Brindleyplace and Paradise in Birmingham; the redevelopment of brownfield sites in the Thames Valley; and major commercial developments in the City of London.

For further information visit: www.argentllp.co.uk

BAM

BAM Construction builds, refurbishes and extends buildings across the UK from a network of offices across England, Scotland and Wales. 

With a strong regional presence, the company has developed close working partnerships with its customers, consultants, supply chain and local communities that are built to last. In practice that means being inclusive, proactive, open and collaborative.

BAM Construction in the UK is part of the multi-billion pound international Royal BAM group, headquartered in the Netherlands.