The Pallasades, which is anchored by Argos, HMV and Woolworths and includes the 95,500-sf Ladywood House office block, sits on a strategic site above New Street Station and forms part of Network Rail and Birmingham City Council's plans for the redevelopment of the station. Warner officials say it had "already been in detailed discussions with both Network Rail and the City Council about the redevelopment" before the acquisition. Bride Hall will work on the development program.
Birmingham city center has benefited from large-scale redevelopment over the last five years," says Warner Estates operations director Michael Stevens. "Given the location, the Pallasades offers excellent potential."
Warner and BoS have already worked together on the Agora Shopping Centre Fund, which owns and manages seven shopping centers across the UK. Coupled with that fund's momentum to date, "Agora Max enables Warner Estate to invest in sub-regional shopping centers across the UK," Stevens comments. "We are confident that the consistently high returns achieved by Agora can be replicated in Agora Max."
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