UK-based McAleer & Rushe has been awarded by Nikal to deliver the first phase of its £120m Exchange Square 2 development in Birmingham City Centre, UK.
The new 37-storey residential tower, which is touted to be the tallest on the site, will feature 375 build-to-rent apartments.
The housing units have been pre-sold to Grainger, a UK-based listed residential landlord and leader in the UK private rented sector (PRS).
Work on the residential tower and half-an-acre of the new public square is set to commence in July 2020 with completion scheduled for summer 2023.
First phase works are valued at £68m and will be a significant addition to the Birmingham skyline.
Nikal, a UK-based developer, has also secured planning permission for a 15-storey, 235-bed Premier Inn Hotel and 6,000ft² Bar+Block Steakhouse Restaurant, both pre-let to Whitbread, and 7,500ft² of high-quality retail space with 63 undercroft car parking spaces, all of which will form stage 2.
McAleer & Rushe commercial director Emmett McGinley said: “We are thrilled to be entrusted as Design & Build Partner for this stage of the major development at Exchange Square where we have worked collaboratively with the development teams at Nikal and Grainger, to reach this key milestone.
“Using our expertise in the residential and BTR sectors, we will be implementing modern methods of construction to complete the tower building, paving the way for the successful and sustainable delivery of the project for all stakeholders involved and much-needed homes in the area.
“We are nearing completion on a high-rise student project at Lancaster Circus in the city and are very pleased to continue our engagement with the local community and provide further employment opportunities as construction progresses.”
Nikal development director Darren Jones said: “We’re excited to be getting on-site and commencing the delivery of this element at Exchange Square. We first met McAleer & Rushe in MIPIM last year and held initial discussions about this and a number of other pipeline projects.
“They are one of the UK’s leading design and build contractors with a 50-year heritage and an impressive portfolio of landmark projects in the Residential sector. In addition to all this experience and success, they have a pure passion and enthusiasm for construction that, as a client, you look for in your main contractor.
“Their professionalism, thoroughness and expertise has been evident in all our dealings and we are very pleased to be able to bring them on board to deliver this first stage of Exchange Square 2 on behalf of ourselves, and Grainger plc.”
Exchange Square 2 is the latest element in the second phase of Nikal’s Masshouse project, a £350m regeneration scheme.
The new 37-storey residential tower will feature 375 build-to-rent apartments. Credit: McAleer & Rushe Contracts UK Ltd)