Birmingham Leads Business Park Diversification Into Elderly Care
IM Properties execs warned they planned to turn the idea of the business park on its head. And they weren't kidding.
The latest transformation of the 122-acre Blythe Valley park near Solihull added a care home for the elderly into the eclectic business park mix.
IM Properties announced plans for 750 homes at its Blythe Valley business park in January 2018. It said the future of business parks would be mixed development, not an exclusive focus on office and industrial floorspace.
The new 80-bed care home, to be built on 1.4 acres purchased from IM Properties by Octopus Real Estate, is part of the 2M SF Blythe Valley Park development.
The care home's backers do not seem fazed by Blythe Valley's business park status.
“The high-quality design is centrally located at Blythe Valley Park and sits alongside the new residential developments being constructed by Bloor and Crest Homes,” Octopus Development's Ashley Heath said. "The site also benefits from being opposite the proposed new neighbourhood centre, the ideal environment for a care home ensuring comfortable surroundings for both residents and their families."
IM Properties said it will build 750 homes over 10 years on a 38-acre slice of the site close to Junction 4 of the M42.
“The ultimate aim is to create something not witnessed outside of the South East and unique to the Midlands — a truly mixed-use offer which will provide 750 homes, offices, industrial and leisure space will break the mould of what is perceived to be business park,” IM Properties Investment Director John Hammond told Bisnow.
The move comes as the Midlands market prepares for the first steps at the 350-acre Arden Cross scheme.
Like Blythe Valley, the site will be next to the HS2 station at Birmingham International. Also like Blythe, it will be a radically mixed business park with 2.65M SF of offices next to 2,000 homes and new retail and leisure space.