Pictured above: Steve Pamely (centre), senior corporate
manager at Birmingham CBC, joins Barberry Developments managing
director Jon Bellfield (right) and director Martyn Cartwright in
Birmingham
The Co-operative Bank in Birmingham has provided a seven figure
loan towards the funding of Barberry Developments' ambitious
£50m Bishop Gate development in Coventry.
Hundreds of jobs will be created by the retail-led scheme to
transform the former Royal Mail Sorting Centre and adjoining
properties including 50 Bishop Street in Coventry city centre.
West Midlands-based Barberry acquired the buildings and plans to
replace them with a complex to be called Bishop Gate. The
development will feature a supermarket superstore of up to
130,000sq ft, a gym/leisure facility with swimming pool in a
20,000sq ft unit, 585 parking spaces, landscaping and vehicular
access and a pedestrian crossing link to replace an existing
footbridge.
The proposals were recently granted outline planning consent by
Coventry City Council's planning committee and if full planning
permission is granted, work on site is due to start in late
2011.
The seven figure loan towards the total cost of the development
was provided by the Birmingham corporate banking centre (CBC) of
The Co-operative Bank in Colmore Row.
Steve Pamely, senior corporate manager at the Birmingham CBC,
said: "We have known Barberry Developments for a long time and have
been their principal bankers for almost 15 years.
"Our lending to Barberry proves the benefits of the Bank's
strategy of developing long-term relationships with customers that
have clear and proven corporate strategies."
Jon Bellfield, managing director of Barberry Developments which
has its head office in Belbroughton, Worcestershire, said: "The
Bank pulled out all the stops to enable us to exchange contracts
within 10 days on the Royal Mail Sorting Office.
"We have since acquired adjoining properties. We are delighted
with the progress we have been able to make in obtaining consent
for such a comprehensive scheme and we are now in dialogue with
several major retailers."