Property consultants and Build To Rent investors say there may be several BTR schemes in Birmingham soon because of a predicted surge in the number of private renters.
IM Properties' residential wing, Spitfire, has announced it is investing £100m in BTR across the West Midlands, with Birmingham the most likely area for schemes.
Meanwhile rival firm Grainger says Birmingham is one of five cities being assessed with a view to PRS investment this year. Another company, Willmott Dixon - which in 2012 came close to a deal with Birmingham council on a site for a BTR apartment block - says it has long-term plans for constructing units in the city, although not until 2015 at least.
Birmingham council has identified a need for 13,000 new homes in the city centre, which has encouraged Knight Frank to predict that the 13 per cent of city households which now privately rent will rise to 18 per cent in the next five years or so.
But the firms which have expressed interest in Birmingham say the kind of Build To Rent units seen in London - mostly aiming at affluent tenants and featuring services such as concierges and secure parking - may be toned down for the more humble Brummie.
Typical renters in the capital may be bankers. That isn't the market in the Midlands, so the bells-and-whistles won't be required says Kurt Muller of Grainger.
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