Working with investor Henderson, the developers revealed that they will be forming three separate partnerships to work together on the three phases of the scheme.
The first will be a 16 700 m2 remodelling of Birmingham’s Martineau Galleries in the Martineau Square area, which will start in spring 2000.
The second phase will be a 110 000 m2 redevelopment of the Bull Ring, which will start in 2001 and is due for completion in 2003.
The third stage of the project will be Martineau Galleries phase two, which will involve the redevelopment of two further existing blocks, and which is due to start in 2004.
The consortium formed for the project, the Birmingham Alliance, already has the backing of Birmingham council.
Before redevelopment starts, Shepherd is expected to carry out work to create an indoor market into which Bull Ring traders will be decanted in late 2000.