NAMA to sell Birmingham site

February 15, 2012 The MyHome Newsdesk by The MyHome Newsdesk
NAMA to sell Birmingham site

Asset managers at ROM Capital are believed to have been instructed to sell the Connaught Square site, which had been earmarked for a £150m scheme, comprising 658 apartments, a four-star hotel with sky bar and a new Irish Centre.

Restructuring and insolvency firm Begbies Traynor was  appointed in June 2010 as administrator to Connaught Square Ltd, a vehicle of Irish-based company Naus Group.

The site is next to Birmingham coach station and runs between Digbeth’s two principal thoroughfares, the High Street and Bradford Street.

It would have contained 1,000 underground parking spaces, two public squares that straddle the River Rea and public amenity space. Allied Irish Bank was to have funded the scheme.

That existing planning consent  is now believed to be unworkable, and a buyer would likely apply for a fresh, more modest scheme.

Advertisement

Neil Mather and John Kelly are joint administrators at the site.

Tags:
Uncategorized Allied Irish Bank Begbies Traynor Birmingham Bullring Connaught Square

Related articles

Woman using mortgage calculator

Mortgage calculator

Ready to start house hunting but need to know how much you'll be paying on your mortgage? Our Irish mortgage repayments calculator will get you the answers you're looking for.

Start now →

Powered by doddl logo