Part of Birmingham City Universitys Perry Barr campus is to be redeveloped to meet the citys growing housing demands.
It comes as real estate adviser, GVA has completed the disposal of a 14.5 acre site on behalf of the University for £6.1 million.
A part of the Universitys City North Campus, the plot on Aldridge Road has been sold to the Homes and Communities Agency (HCA) with support from Savills as part of an ongoing estates rationalisation process, which has already seen the sale of part of the same site for use by a free school in 2014.
The deal allows the University to retain occupancy of its premises which represents the vast majority of its teaching accommodation located within the Perry Barr suburb of Birmingham until late 2018, at which point its School of Education and Social Work will relocate to its new £41 million home, currently under construction at the Universitys City South Campus in Edgbaston.
Carl Potter, Senior Director at GVA, said:
This is a tremendous outcome for the site. Birmingham City University will be provided with the confidence that their departure in late 2018 will not lead to an under-utilised asset in one of the citys main growth areas. The site represents a tremendous opportunity for redevelopment of a residential-focused scheme able to provide much-needed housing within the area.
Professor Graham Upton, Vice-Chancellor, Birmingham City University, said:
The sale further confirms our determination to leave a powerful legacy for the local community who have been nothing but supportive of us during our time at Perry Barr.
We know that Birminghams population is growing faster than homes are being built, so our land will help the government address this problem, while creating new jobs and strengthening the Perry Barr community in the process.
Meanwhile, our new purpose built 10,500m² building in Edgbaston which includes provision for research, a new lecture theatre, a multi-purpose hall, speech therapy, art and technology classrooms and IT hubs will help ensure that we retain our status as the largest provider of teachers in the West Midlands.
The HCA will now draw up a planning application in conjunction with Birmingham City Council and Birmingham City University.
Karl Tupling, General Manager for the Midlands for the, HCA, said: Aldridge Road is a significant development opportunity and an excellent example of the HCAs work to increase house building. We are confident that providing new homes in keeping with the existing character and nature of the area will be a significant benefit, providing more homes for the local community.
We will now work to with Birmingham City Council and Birmingham City University to accelerate the development process to ensure that the site is brought back into productive use at the earliest possible opportunity.
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