UK: Developer Cordia UK has broken ground on The Lampworks, a BTR development which has been backed by funding from Octopus Real Estate.
Located at the intersection of Great Hampton Street and Harford Street, The Lampworks forms part of Cordia UK’s wider vision for Great Hampton Street, a masterplan to transform the area into a residential and commercial destination.
As the first building in Cordia UK’s BTR portfolio, The Lampworks will feature a combination of 148 one-, two- and three-bedroom apartments and affordable homes, alongside commercial units on the ground floor. Residents will also have access to communal facilities, including a co-working space, individual meeting rooms, a shared lounge and a communal kitchen/diner.
András Kárpáti, chief executive at Cordia UK, said: “The Lampworks is the first development in our build-to-rent portfolio and a unique addition to Birmingham‘s rental market – offering contemporary architectural design and amenities in a setting that maintains and reflects the Jewellery Quarter’s renowned heritage.
“We are excited to be working with our construction partners buildfifty5 and Pedrano UK on the project and look forward to seeing our vision for Great Hampton Street continue to come to life with new residents and independent businesses,” he added.
Financial support for the development has been provided by Octopus Real Estate, part of Octopus Investments and a specialist real estate investor and lender, with assistance from financial advisor BBS Capital.
The loan was provided as part of its Greener Homes Alliance with Homes England, which pledges to commit £172 million in finance and support to SME housebuilders.
Nick White, head of development origination at Octopus Real Estate, said: “We’re thrilled to have provided Cordia UK with the funding needed to develop this exciting project, conveniently located close to central Birmingham. It’s a fantastic example of the impact our Greener Homes Alliance has in supporting developers to pursue greener initiatives, and reflects Octopus Real Estate’s commitment to providing quality, sustainable homes.”
