Cole Waterhouse and Taurus Investment Holdings have agreed a £60m joint venture with HGP and BGO to bring forward the first phase of their Upper Trinity Street build-to-rent (BTR) development in Digbeth, Birmingham.
The first phase of the £260m, Corstorphine & Wright designed scheme, which will deliver at least 943 new homes and a new public park when it is fully built out, comprises three BTR properties providing 211 new homes. Caddick has been appointed as main contractor and practical completion is expected in spring 2027.
Damian Flood, CEO at Cole Waterhouse, said: “Entering into a contract with Caddick enables us to undertake this exciting project with Taurus, Housing Growth Partnership and BGO. This is our first joint venture with the professional team at Housing Growth Partnership and we are all excited to bring forward the first phase of UTS, which will be one of the catalysts for the further regeneration of Digbeth, demonstrating our confidence in delivering much needed housing in this key part of the city.”
John McKeon, investment director at HGP, added: “We are delighted to be partnering with Cole Waterhouse and Taurus in helping to bring forward this exciting development which will help meet an unmet demand for housing in Digbeth and create a vibrant local community. Cole Waterhouse and Taurus have a strong track record of delivery in the sector and we look forward to working together to support future opportunities.”
Nick Jacobs, managing director of Taurus UK, said: “The start of construction on the first phase of this superb site feels very significant as it helps activate one of the most important growth areas in Birmingham. We are really happy to be working with HGP, CWH, BGO and Caddick. A great team.”
The joint venture received debt advice from Auxilium Real Estate.
