Birmingham Commonwealth Games: The Property Payback Begins
Is Birmingham's property market seeing its first undeniable Commonwealth Games dividend?
M&G Real Estate has applied for planning permission to convert the 62K SF King Edward House, New Street, into a 259-bed boutique hotel.
It is a very long time since New Street was a good, or even adequate, address for top notch office property in Birmingham, so the move recognises commercial reality. But M&G said Birmingham's hosting of the Commonwealth Games in July and August 2022 played a part in its thinking. The games are expected to inspire more tourist visits to the city in the run-up and afterward.
King Edward House is a few minutes’ walk from both the Bullring and the Grand Central retail complex, next-door to the city centre’s largest multiplex cinema and on the same road as the key transport hub at New Street rail station, making it a strong visitor location.
“We see real opportunity in repurposing this building to react to an undersupply of hotel accommodation in the city centre and to help support a thriving local economy," M&G Real Estate Retail Development Manager Will Gerrish said. "We now await with interest the decision of the Council’s planning department.
"Advanced discussions are underway with a boutique hotel operator seeking its first Birmingham presence and we look forward to being able to share more details about them and their ambitions for Birmingham in due course."
M&G are not expected to proceed with speculative development.
A planning application was submitted last week, but is not yet validated.