Midland developer Regal Property Group has chosen MIPIM 2009 to announce that its long anticipated £125 million mixed-use Regal Tower is set to go ahead in Birmingham.

Regal MD Roger Holbeche said the proposals were being unveiled to Birmingham City Council’s next Cabinet meeting on Thursday, March 19, and that the company would be submitting a planning application in May.

The proposed tower on a prime site on the corner of Broad Street and Sheepcote Street, next to Brindleyplace, is designed by internationally renowned architects Aedas and will include a high quality hotel, retail, leisure and city living.

Roger Holbeche said “Regal Tower will be one of Birmingham’s tallest buildings and is set to alter the city’s skyline with its inspirational design. It will provide the highest fine dining and drinking venue in the city within its premier sky bar.

Pledging the company’s continued commitment to the city, he said he believed that despite the current downturn, those developers that remained focused on the available opportunities in Birmingham would benefit in the long-term.

“Regal Property Group is committed to the continued development of Birmingham’s Westside and the ongoing success of the city.

“Regal Tower represents an exciting project for Broad Street and the city as a whole, with the scheme contributing £125million of new investment at a time when the economy is experiencing a recession.

“Regal Tower responds to the Big City Plan’s ambition for more tall buildings in Birmingham and we are delighted to be able to contribute to that agenda with this strategic site. We are continuing to work closely with Birmingham City Council to work up the development proposals and plan to go out to public consultation during April, with a planning application following during May.”

Subject to planning approval, work on site is expected to commence in early 2010, with the three-year build programme set for completion in early 2013. The project will create a significant number of construction jobs for Birmingham people.

The mix of leisure uses within Regal Tower has been designed to complement Brindleyplace and the additional office buildings situated on Broad Street, Five Ways roundabout and the rest of Westside.

Coun Mike Whitby, Leader of Birmingham City Council, said: “The continued commitment we are seeing from developers and investors, even in these uncertain times, is very encouraging and I believe testament to the long-term stable opportunities that this growing city has to offer.”