Through their joint venture Curzon Park, the two have won consent from Birmingham City Council to build a hotel, leisure, office and residential development over a 10.5acre site in the city's eastside area.

The first phase will incorporate a a 120,000 sq ft speculative office building, a 200-bedroom hotel and retail/leisure space.

The total investment into the scheme is approximately £400m.

David Enticknap of Development Securities, said:

"Development Securities and Grainger have worked closely with Birmingham City Council to develop a masterplan providing a wide range of modern buildings set in high quality landscaped public spaces. Curzon Park will make a significant contribution to the regeneration of Eastside in Birmingham."

Work is expected to begin towards the end of this year.

CB Richard Ellis is advising on the commercial space at the scheme and Knight Frank for the residential.