Regal Property Group is looking for a forward funding investor for a £200 million-plus build-to-rent project in UK city Birmingham.
Regal has instructed BNP Paribas Real Estate to seek an investor for the scheme at 90-97 Broad Street.
The project is a 47-storey, 525 apartment scheme that is expected to be worth over £200 million once completed. Located in the Westside area, it totals 43,709 sq m will comprise 1- and 2-bedroom apartments.
There will also be 1,340 sq m of private amenity space, including a co-working area, gym and yoga, a cinema, private dining, an events room, an arcade games room, a nursery and the highest sky lounge in the city. An exterior residents’ landscaped “pocket park” is located on the ground floor.
Planning is expected to be granted in the fourth quarter of 2023. The developers are aiming for the 44-month construction period to be finished in the third quarter of 2027.
Regal Property Group’s Mark Holbeche 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.”