£300M to be invested in Birmingham apartments

How the Kent Street development (triangular building towards the left) could look when completed.

How the Kent Street development (triangular building towards the left) could look when completed.

 

A specialist in the development of high quality city centre apartments has acquired its fourth Birmingham site.

 

 

High Street Residential paid £19 million for the larger of two plots earmarked for regeneration on the site of the former Kent Street Baths.  It already owns the other, smaller piece of land.

 

 

Detailed plans are being drawn up for a £133 million development of two buildings which would provide up to 580 apartments for private rent as well as some commercial facilities.

 

 

When combined with projects planned in partnership with local developer – Taylor Grange Developments – at Holloway Head, close to the Mailbox retail centre and in Moseley Street, Digbeth, the deal paves the way for High Street Residential to deliver up to 1,300 apartments in Birmingham as part of a £300 million development programme.

 

 

Large institutional and wealthy private investors are already committed to buying the apartments when completed.

 

Chairman of The High Street Group of Companies – of which High Street Residential is part – Gary Forrest, says:  “Almost 19% of the UK population is renting privately and this figure is expected to grow significantly.  In response, we are creating high quality living spaces, future proofed through the use of the latest smart technologies.

 

“Our developments will support the huge regeneration initiative underway in the south of Birmingham, providing attractive homes for those working in modern jobs being created by a fast developing hi-tech sector.

 

 

“They also offer extremely attractive investment opportunities with yields and capital growth in excess of seven per cent per annum.  These are non-volatile, high quality assets offering attractive, long term returns, which we can maximise for our partners.”

 

 

High Street Residential is developing or planning a string of similar PRS initiatives in major UK cities.  In total, these projects have a gross development value (GDV) of over £1bn and would create more than 3,000 apartments for private rent.

 

 

With its headquarters in Stockbridge House, The High Street Group of Companies was established by successful entrepreneur Gary Forrest in 2006.  It has grown to become a leading financial and property group employing around 230 people in activities including large scale property development and construction, hospitality and leisure.

 
For more information about the project and developer, visit: www.highstreetresidential.co.uk

 

For more information, please email: paul@persuasion-pr.com