Regal Property Group is seeking a forward funding investor for a BTR scheme in Birmingham with a GDV of circa £200m.
The 47-storey, 525 apartment scheme at 90-97 Broad Street is located in the Westside area of the city close to Brindleyplace. The 43,709 sq m development sits on a 0.63 acre freehold site and will offer a wide range of on-site amenities, including co-working space, a gym and yoga studio, cinema, private dining space an arcade games room and the highest sky lounge in the city.
Mark Holbeche, director at Regal Property Group, said: “90-97 Broad Street has been designed to top specification with the modern renter in mind. Delivered in partnership with leading local architects Glancy Nicholls, we are developing a product which captures the requirements of the idealised work/life balance as allocations towards amenity based spaces in key regional locations increases. This scheme will take us to over 1,000 units on Broad Street, which is now the prime residential quarter of the city”
Andrew Screen, head of residential capital markets at BNP Paribas Real Estate, which has been appointed to secure a an investor for the development, added: “This is an excellent opportunity to secure an amenity-led BTR investment offering within a highly sought after and prime area of Birmingham’s city centre, neighbouring major cultural, business, and finance hubs, at a time where its position as the UK’s second city is being affirmed.
“Birmingham is a key destination for BTR investment with its demographics all pointing in favour of a scheme of this nature – a youthful and growing population of renters, many with no dependants, and a high graduate retention. Its role as a rising innovation and tech destination is fast being established too, which we anticipate will continue to draw in and maintain talent.”
Subject to a S106 agreement, it is anticipated that planning will be granted in Q4 this year with a start on site in Q1 next year. Completion of the development should take place in Q3 2027.
