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October 2016 news archive

IM PROPERTIES LANDS FIRST APPROVAL ON STRATFORD SCHEME

IM Properties’ new strategic land division, IM Land, has had an outline planning application approved (subject to S106 and call-in) by Stratford-on-Avon District Council (SDC) to develop approximately 120 acres of land.

This will create up to 1,000 new homes, leisure and retail floorspace, and associated public open space and recreational and sports areas and an acoustic band adjacent to the M40.

IM Land was launched last month with a £1.34 billion portfolio, with the ambition to acquire and promote new residential sites to sell onto housebuilders and developers, which require complex planning permissions on behalf of landowners.

The Stratford-upon-Avon site located adjacent to The Old Gated Road and the B4100, is one of a number IM Land is currently working on including schemes in Bath, Solihull, Lichfield and Warwick.

The decision by Stratford-on-Avon District Council is a ‘resolution to grant planning permission’ subject to a Section 106 legal agreement and planning conditions to be agreed between the two parties in due course.

IM Land’s development is a major component of the 3,000 dwelling Gaydon Lighthorne Heath new settlement and an important part of the council’s overall plan for the district, which requires an average of 725 additional homes per annum over the period 2016-2021. 

Jonathan Dyke, IM Land’s strategic land director says the Gaydon Lighthorne scheme is precisely the type of scheme, which the Coleshill-based group envisaged when the division was established, and are actively seeking to invest in new complex development projects.

“We are delighted and looking forward to working with the council to continue to develop creating our plan for a high quality development featuring significant areas of public open space, community and recreational facilities and many other additional features including a large acoustic noise bund along the M40. “

IM Land is a wholly owned by IM Properties Plc, has a land portfolio with a Gross Development Value of £1.34 billion and is headed by the group’s Strategic Land Director Jonathan Dyke supported by some of the housing industry’s leading professionals

 

SPITFIRE PARTNERS WITH IM PROPERTIES ON MAJOR NEW SCHEME

Spitfire Properties funded by partner IM Properties (IMP) has acquired a prime new development site in Newhall Street from Birmingham City Council.

The £45 million deal will see Spitfire deliver up to 230 one, two and three bedroom apartments across eight floors, with a retail element on the ground floor and a significant investment to the public realm.

Both Spitfire and Birmingham City Council see the Newhall Street scheme as an opportunity to add a new dimension to the Jewellery quarter and link towards the business district. The refurbishment of Whitmore Arms and the development of a new square will create a sustainable new environment where people will want to socialise.

Spitfire’s senior management team are no strangers to the city living scene, having been involved in major projects over the years with Crosby Lendlease, Cala and Banner Homes

Working jointly with funding partners, IMP, Spitfire brings to the table considerable financial backing and vision from one of the UK’s leading property companies. IMP is involved in some of the Midlands largest schemes including 55 Colmore Row, Blythe Valley Business Park, Mell Square Shopping Centre and The Hub, home to the new Wholesale Markets.

Jon Richards, land director at Spitfire said with the levels of investment currently enjoyed in Birmingham, they were confident now was the right time to launch a form of the Spitfire product in the city centre.

“Like IM Properties, we are all about seeking out the right opportunities and unlike many housebuilders we’re not answerable to shareholders and can move quickly to respond to the market.

“Birmingham is a city on the up and attracting a lot of positive attention as a place to do business and to live. We feel our upmarket, high quality living accommodation will be well received.”

Spitfire is expected to start on site in 2017, with a view to the first apartments being delivered in 2018.

Councillor John Clancy, Leader of Birmingham City Council, said: “We need to build 90,000 new homes in the next 15 years across Birmingham and city living will have a big part to play as we strive to meet that target.

“So I welcome the Spitfire Properties investment in the Jewellery Quarter and look forward to seeing the scheme come to fruition.”

 

IM PROPERTIES TAKES THE WRAPS OFF NEW PROJECT

As IM Properties (IMP) gets close to unveiling its £30 million redevelopment of 55 Colmore Row, the building’s record breaking wrap is set to come down and get a new lease of life.

The 2,445 sq metres of PVC wrap - which is equivalent to a wall of 50 double decker buses - is being removed to make way for the final works and will be recycled, including its fixings to make weatherproof yurts for families in North Africa and parts of Greece.

This initiative is being pioneered by Embrace Building Wraps who are working in conjunction with IM Properties. Banners of this type are ideal for repurposing, due to the hardwearing properties of the PVC along with the white reverse of the printed banner, which reflect the heat of the sun’s rays.

55 Colmore Row, which has already attracted tenants Pinsent Masons and restaurant operator Gaucho, is set to launch in the Autumn and 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.

John Hammond investment director at IMP said: “The building wrap created a real buzz when it went up and it’s now set to create an even greater impact when it comes down, getting a second lease of life and providing invaluable shelters for those in less fortunate climates.

“It been a part of the Birmingham landscape for the past six months and we’re delighted to think it will continue to live on for the benefit of others in another part of the world. We’re always trying to break new boundaries when it comes to our investments and build projects and Embrace’s shared vision for sustainability is exactly the type of forwarding thinking company we like to work with.”
Greg Forster, MD of Embrace Building Wraps, added: “A simple act such as this is the heart of good building and business practice and by recycling the banners we will have a real positive social and environmental impact.

“IM Properties banner will join other banners we are producing and recycling and will be shipped in a container when full to a organisation who will then repurpose them into yurts. It will be great to see this process happen and we’re delighted to be getting such positive feedback from our clients.”

Coleshill based IM Properties is one of the largest privately owned property companies in the UK and a significant investor in the Midlands. Blythe Valley Business Park, Mell Square Shopping Centre, Birch Coppice and The Hub are amongst its portfolio.

 

Java Lounge completes hat-trick with Blythe signing

One of Birmingham’s coolest coffee houses is setting up shop at IM Properties’ (IMP) Blythe Valley Park on the outskirts of Solihull.

Java Lounge is bringing its speciality single-origin brews, teas, milkshakes, wraps and cakes to a purpose-built facility on the business park on junction 4 of the M42.

The construction of the new facility is underway and Java Lounge is expected to start operating in Q1 next year as IMP looks to enhance the amenities available for occupiers.

Java Lounge was selected as IMP’s development surveyor, Rachael Clarke, says they felt they were the right company to create a welcoming atmosphere for occupiers.

“The second of Java Lounge’s venues is just down the road from our 55 Colmore Row scheme, and we’d been very impressed. When our colleagues visited, they agreed it would be ideal for Blythe, so we were very pleased to get the deal done.

Bringing an independent coffee operator to the Park provides us with the flexibility to keep an open dialogue with Java Lounge and the Park’s occupiers to create the best amenity offer for the Park users and wider area.”

“The coffee shop will seat up to 50 people and so there will be space for people to enjoy the food and drinks, but it will also be a destination for meetings or quiet working.

Java Lounge was established in Moseley 11 years ago by Akram Almulad;  aimed to reflect his Yemeni heritage and to honour the homeland of his parents for being the first country to grow coffee beans for the purpose of consumption.

Akram admits he was delighted when approached to open his third coffee shop on the 250-acre business park.

“I’ve always been ambitious, but was also determined not to try to grow the business too quickly. Each year I re-invested in our original Moseley store until I was happy with every aspect, and when the opportunity came along in Colmore Row, I felt it was the right time for us,” he says.

“The coffee house at Blythe will be something special, because we can design the space from scratch, we’re not going into existing premises. I used to work on Blythe Valley and so understand the occupiers and the opportunity well. Now the contract is signed, I’ll continue to work with IMP’s designers and Rachael to get everything just right for the launch.”

The new coffee shop at Blythe adds to a recent £5 million refurbishment of IMP’s One Central Boulevard Grade A office scheme on the park, which has already seen occupiers, Infor and Zenith sign up to ten year leases.