UK: Developer Sama Investments has placed a 301-bed PBSA scheme site in Birmingham’s Chinese Quarter on the market.
BNP Paribas Real Estate is marketing the development site, which has a GDV of £50 million, and is seeking offers of more than £7.5 million.
The scheme secured planning permission from Birmingham City Council at the beginning of December 2024.
Located at the former Goods Yard on Pershore Street, the development will feature a stepped building design with sections rising to four, 10, and 15 storeys, forming part of the wider redevelopment of The Arcadian Centre.
Bilal Ahmed, founder and chairman of Sama Investment Group said: “We pride ourselves on being specialists in breathing new life into brownfield real estate across Britain’s regions, creating long-lasting value for investors and communities. We carefully selected Pershore Street to deliver market-leading returns to our clients and investors alike, and anticipate strong interest given the rarity of the planning permissions granted in that area. It offers the opportunity to capture market demand, with the plans for the scheme also supporting and retaining the identity of the surrounding area.”
Andrew Screen, head of residential capital markets at BNP Paribas Real Estate, added: “Investing in Birmingham’s city centre and PBSA offers a compelling case to developers and investors looking to secure strong occupancy rates and sustainable rental growth. The wider area is undergoing significant development with Pershore Street offering the chance to secure a well located, ‘plug in and play’ development site, with an immediate start on site in an attractive location neighboured by major universities, a rich cultural scene, and supported by excellent transport links. The student sector continues to demonstrate its counter-cyclical proposition with the demographic drivers and supply issues continuing to drive activity. We are currently seeing high investor demand for PBSA in city centres that contain Russell Group and/or STEM universities and expect extensive investment into PBSA in 2025.”
