The MasterplanMSL paid £23 million for the development rights; much of which was used to build the National Indoor Arena (NIA). 

Their proposal was for a £200 million development which included the NIA, a visitor led Festival Market and National Aquarium.September 1989 – 'Go For Big Broad Street Plan'This slogan made headlines when the development finally received planning permission. The plan also included 600,000 sq ft of office space to help transform the Broad Street area into a commercial and leisure development.

July 1990

Merlin pulled out of the scheme due to fears about the property slump and the project was taken over by Shearwater's parent company, Rosehaugh, which subsequently set up BrindleyplacePlc as a subsidiary company to oversee the development. 

The New Scheme

Rosehaugh re-looked at the masterplan for the development and working with Birmingham City Council drew up a new scheme. The Festival Marketplace was said to be unfundable.

December 1991 – 'Exciting proposals for a high quality, mixed use development'

By December 1991 another plan was submitted for approval based on the revised masterplan and including a fifth public square.

Buzzing Atmosphere

The development included 19 restaurants, shops and bars in Birmingham's first ever purpose designed leisure venue overlooking the canals. The development proposals also contained 120 new homes to encourage more people to live in the city, rather than outside of it (this would become Symphony Court). There was 1,100,000 sq ft of offices, which would create 6,000 jobs. The leisure element was not absolutely certain but possible options at the time were Science of Sport, anImax Cinema, bowling alley. The existing Crescent Theatre was also to be rebuilt on Brindleyplace.

July 1992

Outline planning permission was gained. This meant that the scheme would be implemented in phases and, led by market demand, employ 6,000 people on completion. It wasn't all plain sailing…The obstacles had not only been financial, but ecological! In the recession, progress had been slow and Ecologists discovered that the site was home to a very rare Black Redstart; a bird which is a protected species. Work could not begin until the birds migrated.

November 1992 

Rosehaugh's shares were suspended at 7.5p where they had once traded at 925p. The company's debts were reported to be at £350 million. After an anxious wait Brindleyplace was declared to be safe and Brindleyplaceplc continued its work.

June 1993

Argent Group Plc, a privately owned UK property company, purchased Brindleyplace for an undisclosed sum.