The building, located on Broad Street, will become one of the city centres tallest buildings, and stand nine storeys higher than its neighbouring building, which is also being built by Wates.
Work on the new 30-storey building, which will encompass 205 high quality apartments, recently began on site and is expected to complete in Autumn 2019. When complete, it will also boast ground floor retail space, open to the public.
Progress on site was marked with the arrival of a 114m tower crane, which involved the project team working through the night.
Like the first building, the new 16,055 sq m addition at The Bank is designed by Glancy Nicholls Architects.
The scheme adds to Wates extensive portfolio of projects across Birmingham, which includes Ardstone Capitals Grade A office development at Phoenix House, the development of Eastside City Park and the fit out of Gowling WLGs premises at Two Snowhill.
John Carlin, Business Unit Director, Wates Construction Midlands, commented:
“Collaborating with Regal on The Bank and creating a striking new addition to Birminghams skyline has been a fantastic experience for our Birmingham team. We are therefore honoured that our relationship is continuing with the second building at The Bank.
When complete, the two buildings of The Bank will be a benchmark for urban residential schemes in Birmingham. This is an incredibly exciting time for the city, with HSBCs relocation of its UK headquarters to 1 Centenary Square, HS2 set to revolutionise the regions transport offering and it being selected as the preferred British bidder for the Commonwealth Games in 2022.
Our work at The Bank will provide Birmingham with two new buildings befitting its growing status as a vibrant, cosmopolitan and enterprising city.”
Work on the first building at The Bank was recently marked with a topping out ceremony. The first occupations of its 189 studio, one and two bedroom apartments are set to be in July 2018.