Hines links up with Ballymore to build in Birmingham

US developer and investor Hines is partnering with Ballymore Group to develop Two Snowhill, a 14-storey office building in Birmingham. Hines' European Development Fund II acquired the site and will fund the project.

Designed by Sidell Gibson, the 314,000 sq ft (29,000-m2) building is designed to be the 'big sister' to the adjacent One Snowhill office building, which is mainly occupied by KPMG and Barclays. Two Snowhill will contain 305,000 sq ft of office and 9,000 sq ft of retail space. Law firm Wragge & Co. has preleased 185,000 sq ft of the office space.

'We are optimistic about additional leasing prospects, as Two Snowhill will be of the highest quality and will be the first new office building to be delivered in central Birmingham for more than three years,' said Hines' UK director Anthony Leonard.

The new development is Hines' third project currently under construction in the UK. It follows 280 High Holborn in London's Midtown, where construction started earlier this year, and Cannon Place in the City, which will be finished this autumn.

Debt funding for Two Snowhill is being provided by Deutsche Hypo - London Branch. Colliers International, Birmingham advised Hines while Savills advised Ballymore.

Balfour Beatty has been hired as general contractor, and construction will start in May. Project completion is expected in early 2013. The scheme is targeting a BREEAM Excellent rating for sustainability.