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PRIVACY
Commercial Property

Milestone reached for Birmingham apartment project

Exchange Square tops out as first phase of project is scheduled for completion by the end of 2019

Deputy Lord Mayor of Birmingham Councillor Yvonne Mosquito joins staff from the development team at Exchange Square to mark the topping out of phase one

One of Birmingham's largest new residential developments has topped out.

The first phase of Exchange Square in The Priory Queensway has 603 apartments along with commercial and leisure space, a roof garden and gym.

Manchester-based developer Nikal is behind the project which has been branded 'Allegro'.

The first two buildings of the scheme, which is for rent only, are now complete and the final 27-storey tower is due for completion in November.

Main contractor Sir Robert McAlpine joined staff from Nikal and LaSalle Investment Management, which agreed a £105 million forward funding deal for phase one in 2016, at a ceremony in the city.

Hector McAlpine, executive partner of Sir Robert McAlpine, said: "We are proud to be part of the team to deliver luxury rental apartments and to play our role in enabling tenants to live in a new urban village in the centre of Birmingham."

Nikal's co-founder and managing director Nick Payne added: "This is a significant milestone in our history with this site and with Birmingham.

"This project has employed over 500 people, 60 per cent of them from the local area, and it contains over one million bricks.