im-properties-logo

November 2015 news archive

IM PROPERTIES TAKES RECORD FOR UK’S LARGEST BUILDING WRAP AT 55 COLMORE ROW

Developer IM Properties has installed the largest building wrap in the UK at its 55 Colmore Row redevelopment in Birmingham city centre.

Delivered by industry specialists Embrace Building Wraps, the combined visual display extends around three sides of the building, totalling 2,445 m2.  This is just under 10% larger than the previous record – also delivered by Embrace – which was the 2,200 m2 wrap at St James market in Central London, installed in 2014.

Designed to contain dust generated by renovation works, building wraps provide a more aesthetically appealing alternative to standard safety netting and have become increasingly commonplace on large scale, high quality construction projects.

John Hammond, Investment Director at IM Properties, said: “This wrap looks fantastic and provides a really strong statement that matches our aspirations for the redevelopment of 55 Colmore Row, creating an impactful, contemporary space right in the heart of Birmingham city centre.”

The wrap for 55 Colmore Row took over 500 man hours to complete and, weighing in at 1,200 kg, features 2,500 brass eyelets to secure it to the scaffolding around the building.

Greg Foster, Managing Director at Embrace Building Wraps, said: “It’s great to be a part of this exciting and ground-breaking project which has created a real buzz. It is always a pleasure to be leading the industry by delivering landmark developments such as this and it’s been fantastic working in the heart of Birmingham and experiencing first hand this dynamic, visionary and unique city.”

IM Properties is undertaking a comprehensive £30 million redevelopment of 55 Colmore Row that will deliver 160,000 sq ft of Grade A space, including the addition of two new floors, set behind the Grade II Listed Victorian façade with a vista across St Philips Cathedral.

New restaurant units will also be installed on the lower ground floor and the rear elevation will be replaced with full height floor-to-ceiling glazing.

Work is due to be completed in autumn 2016.

http://www.55colmorerow.co.uk

IM Properties opens office in Chicago

IM Properties is pleased to announce the opening of its Chicago office at 77 W Wacker Drive in the heart of downtown Chicago.

The opening in Chicago follows significant growth in our US operation and a commitment to expand our business further in the US.

Since 2011 our US operation has from its former Florida base - concentrated on Chicago and Mid-West markets with particular emphasis on new ground up retail development.

See www.impropertiesusa.com

Head of US Operations Robert Gould commented; “IM likes ‘scale’ and the United States gives us the opportunity to achieve scale, which in retail, is more difficult to achieve in the UK. Chicago is an exciting global city and a location that we can invest in with confidence. We’ve been working hard on our relationships in Chicago for a few years now and this relocation is very much about our commitment to our development, retail and institutional partners in taking our US business forward”

Managing Director of IM Properties Plc, Tim Wooldridge commented; “The USA provides diversity to our global portfolio and favourable returns from our developments have led to a natural desire to grow the US business further. Chicago is a vibrant and exciting city, and having got ourselves noticed for the right reasons we are now looking forward to creating further success from more opportunities.’

IM Property Investments (USA) LLC
77 W Wacker Drive, Suite 4025, Chicago, IL, 60601
USA
Tel   +1 (312) 620 2060

IM PROPERTIES AND BIRMINGHAM CITY COUNCIL START CONSTRUCTION ON CITY’S NEW WHOLESALE MARKETS

Award-winning developer, IM Properties and Birmingham City Council have completed the deal for the development of a new, purpose-built facility for the city’s Wholesale Markets at The Hub in Witton, clearing the way for the start of construction.

Located on an 18 acre site at The Hub, just 2.5 miles from Birmingham city centre, the scheme will include a bespoke 241,885 sq ft facility which can house over 78 traders and all on-site facilities.

Work will begin on the delivery of the site before the end of the year, with completion expected in Q4 2016.

Planning permission for the scheme was granted earlier this year, paving the way for the relocation of the markets – the largest combined wholesale food market in the UK – from its existing home on Pershore Street in the city centre.

Richard Lawrence, IM Properties, said: “The completion of this agreement with Birmingham City Council means that we are now able to progress with the delivery of a truly bespoke and fit-for-purpose new home for the Wholesale Markets.  With work due to begin shortly, this will be a significant development for IM Properties and we are looking forward to working with the Council on the delivery of this prestigious scheme.”

Once the markets have been transferred to the new site at The Hub, Birmingham City Council will be clear to begin delivery of its £500 million Smithfield development, which will occupy 34 acres around Pershore Street in the city centre.

Ian Ward, Deputy Leader, Birmingham City Council, said: “The location and transport links that The Hub offers, combined with the experience of IM Properties in delivering high-quality developments, leaves us sure that this will be a new chapter for the Wholesale Markets. By securing this new scheme we are able to clear the way for Smithfield, which represents another phase in the ongoing transformation of Birmingham and the creation of a truly contemporary, 21st century metropolitan environment.”

CBRE, Savills and Knight Frank acted on behalf of IM Properties in completion of the deal, with LSH acting for BCC.

Paul Marlow, LSH, said: “We’re delighted to see the relocation of the Birmingham Wholesale Markets coming to fruition. It has been an interesting project for LSH to be involved in from the start and will ultimately be a real positive for Birmingham. The Markets’ new long term, purpose built home is in an ideal location, and the old Smithfield site is now freed up for its exciting regeneration.”

Situated on Noble Way, close to Witton Train Station, The Hub is Birmingham’s premier distribution and industrial site, with the capacity to provide over 1.6 million sq ft of employment space and create over 2,100 employment opportunities.

Work is already underway on the delivery of two new speculative industrial units on the site, totalling 110,230 sq ft, which are being delivered to IM Properties’ high quality specification and are due to be ready for occupation in Q1 2016.

Acquired by IM Properties in 2013, The Hub is well connected to the national road network with Junction 6 of the M6 and the A38 both within a 10 minute drive time. Birmingham city centre is only 2.5 miles away, offering easy access to the city’s extensive range of resources and amenities.

Existing occupiers at the site include Laidlaw Interiors, IMI, Timet, and Iron Mountain.

For further information on The Hub, visit http://www.thehubbirmingham.co.uk.