BIRMINGHAM, ENGLAND-Hines has signed on to assist London-based Ballymore Group to build the 14-story Two Snowhill office tower here. The building is going up next to its near-twin sister building, One Snowhill, developed by Ballymore as part of the $741 million Snowhill project.
The mixed-use Snowhill project, undertaken by Ballymore beginning in 2006, also includes retail stores, and a hotel and residential tower. Construction was halted on the entire development in 2008 after the main lender, Anglo Irish Bank, went out of business.
Ballymore was able to get complete the One Snowhill office building, which is occupied by tenants KPMG and Barclays. This building was reportedly sold to Commerz Real for $210 million in November 2009. Starwood Hotels & Resorts has signed on to open a 198-room Westin Hotel and Spa as the hotel portion of the project.
Two Snowhill, at 314,000 square feet, is three floors larger than its sister tower. The law firm of Wragge & Co. has preleased 185,000 square feet. Wragge is moving from its existing offices at 55 Colmore Row. Balfour Beatty has been hired as general contractor, and the tower should be complete by early 2013.
Richard Probert, project director for Ballymore, said in a statement that it was good to partner with Hines to help deliver on the company’s commitments. “This is a great building, and the restart on site next month will hopefully be a springboard for the rest of the project and for a renaissance in the wider Birmingham office market,” he said.
Hines UK Director Anthony Leonard said in the statement that he’s confident that they can additional tenants to lease out the building. This is the third office project for Hines in the United Kingdom, with the other projects including 280 High Holborn and Cannon Place in London.
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