English Cities Fund, a three-way joint venture between Muse Developments, Legal and General and the Homes and Communities Agency,  is developing 125,000 sq ft One New Bailey project.

Planning consent marks a key milestone in the New Bailey development, which follows the start of a 143-bed Premier Inn and a 615 space multi-storey car park.

Demolition contractor Walter Forshaw will start ripping down the existing Ralli Courts building next week paving the way for construction, which is due for completion in autumn 2016.

The building contractor for the £51m end-value scheme is set to be announced shortly.

One New Bailey provides large floorplates of up to 17,212 sq ft and will be developed to the latest BREEAM Excellent standard.

Phil Mayall, development director at Muse, said: “We have made excellent progress on site to date with the car park and hotel but we are delighted that we are now in a position to move forward with One New Bailey.”