Strategic Recovery

Case Studies:

The Heights, Bedford

In November 2009, Birmingham Properties Group was appointed to deliver a large redevelopment project located close to Bedford's famous embankment, following the development company being placed into administration. A 13 storey BT Tower office building is being converted into 109 high quality apartments and Birmingham Properties Group will also manage the planning applications for two adjacent sites.

The £10million BT Tower development is part completed and Birmingham Properties Group is out to tender for a contractor to finish off the building and fit-out works. At this stage in the construction process it is clear to see that the fundamentals behind the project are sound, based on the landmark status of the building and its prime location. The scheme is within easy walking distance of Bedford train station, which has a regular service to central London, taking only 35 minutes.

Birmingham Properties Group has scheduled to re-launch The Heights development in early 2011 once the construction programme has concluded and the apartments are ready for occupation. New marketing collateral, signage, a scheme website, a show home and sales suite will be prepared for the launch. Birmingham Properties Group will also set up the management regime for the apartments and oversee all legal and sales issues, including managing the retained selling agents, ensuring timescales and target values are achieved.

Planning applications for two development sites adjacent to the former BT Tower will be worked up and submitted by Birmingham Properties Group during 2011. One site is earmarked for a possible over 55’s active retirement living scheme, while the other is considered suitable for a commercial use, such as a hotel or retail development. Once planning is gained these sites will be actively marketed in order to maximise their value.

Birmingham Properties Group anticipates that its multi-faceted role on this project will take 12-18 months, from pre JCT contract negotiations on The Heights development to final handover of the site to the appointed management company.