Vita Group has reached a deal with LCR to acquire Birmingham’s Axis Square site, and will look to create a primarily residential development.
Adjacent to The Mailbox and Arena Central, the 4.5-acre site was previously home to Birmingham Central Goods Station and had been earmarked by the council for a mixed-use development.
However, Vita are set to consult with Birmingham City Council to discuss a new masterplan involving the creation of a mixed residential development under the name of Goods Station.
Mark Oakes, Vita Group chief commercial officer, said: “Goods Station has the opportunity of becoming a true landmark destination within the city, fantastic places to live which attract talent, add to the growing economy and draw in tourism.”
Peter Hawthorne, chief executive officer for LCR, added: “We have been working for a number of years to help the site realise its potential through enabling wide-scale regeneration, and are now excited to be able to handover to Vita to continue the transformation that we started and create a vibrant new destination in the city centre.”
Savills provided agency services on the deal while Deloitte and Shoosmiths provided legal counsel for Vita Group. Eversheds Sutherland acted for LCR.