The contractor is already on site doing the enabling works and will now build out the seven storey building which will include a roof terrace on the sixth floor and restaurants and retail units at ground level.

The Paradise redevelopment is by Paradise Circus Limited Partnership, a private-public joint venture with Birmingham City Council.

The private sector funding is being managed by Hermes Investment Management which has partnered with Canada Pension Pan Investment Board on the first phase of the development. Argent is the development manager.

Carillion operations director, Simon Dingle said: “Paradise is a crucial project for the city and Carillion is very proud to be playing such a major role in its delivery. We are looking forward to completing the enabling works on the site and being able to bring our considerable experience to construct One Chamberlain Square.”

Argent regional director, Rob Groves, said: “Carillion has been making good progress preparing this complex site and the surrounding infrastructure and is about to start delivering the foundations and basement for the first phase of building. We are very pleased that Carillion will now be able to continue this work and bring One Chamberlain Square to life.”