105-apartment ‘lozenge-shaped’ building given go ahead

105-apartment 'lozenge-shaped' building given go ahead

Tom Dare - Local Democracy Reporter | Saturday 8th January 2022 11:39am

Plans for a ‘lozenge-shaped’ 105-apartment complex in Yardley have been given the go-ahead by councillors.

The proposals, which will see two new buildings constructed behind the Equipoint building on Coventry Road, South Yardley, were unanimously voted through during yesterday’s (Oct 28) planning committee.

Described as a ‘local landmark’ within the Swan District Centre, the Equipoint building was used as offices until 2018, when permission was granted to convert the building from offices to residential use, with 220 apartments in total.

Images show how the buildings could look once completed, with one resembling a ‘lozenge’ and the other a set of steps.

However the developer will not be obliged to provide 35 per cent affordable housing, papers state, due to the cost of initially developing the site.

“Given the scale of the proposed development, 35 per cent affordable housing should be sought in accordance with the Birmingham Development Plan,” papers note.

“The developer has provided a financial viability report based on the new development. The report indicates that there are fairly modest capital values which impacts significantly on viability.

“The construction costs are only marginally lower than city centre schemes, but sales values are circa 20 per cent to 30 per cent lower and more than 10 per cent lower than even the more peripheral city centre schemes.

“This has been thoroughly assessed by the councils’ independent advisors and in this instance, given the low land values, and the resulting development being mainly rental, that the development could only sustain 10 units (seven one-bed and three two-bed units) at 20 per cent discount affordable market rent in perpetuity.

“It is considered that the provision of housing will help the council meet housing targets and support sustainable neighbourhoods.”

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