Finance companies have announced the development of a new 440-unit Build To Rent scheme in Birmingham.
Harrison Street, an alternative real assets company, is in a joint venture with Cortland investment consultancy, developing the project which will be known as Cortland Broad Street.
It will be comprised of a 35-storey tower and a six-storey apartment block; in total there will be 440 one- and two-bedroom apartments with more than 12,000 square feet of amenity space including a gym, cinema room, co-working space, resident lounges, private dining area and roof terrace.
The scheme is expected to deliver in early 2024.
“Birmingham is home to the greatest concentration of businesses outside of London and is experiencing significant investment in new public transportation options making it easier to live and work in the city” says Harrison chief executive Paul Bashir.
Cortland’s European senior director Owain Thomas says: “Since entering the UK market in 2017, our goal was to redefine and reimagine the rental living experience in the UK. We’ve aimed to do this by importing our proven US resident-centric rental model to the UK for both build to rent and other private rented sectors.
“With Cortland Broad St., Cortland will revise market expectations as we bring to market our unparalleled residential management offering.”
Cortland recently announced the acquisition of Qdime Group, a UK-basedresidential property management service business with more than 30,000 units under management.
The investment confirms Cortland in the top ten largest block management providers in the UK.