UK: Goodstone Living, the BTR arm of Macquarie Asset Management, has secured planning permission for 550 BTR units across six blocks in Digbeth, Birmingham.
The £95 million construction project will be delivered at a four-acre site on Camp Hill, and will be the developer’s first BTR residential development. Goodstone Living acquired the site in July last year.
The scheme will provide one-, two- and three-bedroom apartments exceeding minimum size standards set by the Council.
Designed by Darling Associate Architects, the phased project will consist of a landmark 26-storey block with associated mid-rises of around nine-storeys, and 12 three-storey town houses.
Goodstone Living is focused on reducing embodied carbon during construction by more than 30 per cent using off-site volumetric modular construction and reducing operational carbon by more than 50 per cent with the latest heating and enhanced building fabric technologies.
The design and procurement of the scheme is currently underway with construction expected to commence in Q1 2023.
Funding for the project has been secured from a number of UK and international real estate investors, including Northern LGPS – Local Government Pension Scheme pool of Greater Manchester, West Yorkshire and Merseyside Pension Funds.
Martin Bellinger, principal at Goodstone Living said: “Birmingham’s BTR market is hugely competitive, which puts the onus on developers and investors to keep raising the bar of what renters can expect. Our Birmingham scheme is an excellent illustration of that in action, with the city’s largest private garden, low site coverage, and an unwavering focus on how we can create, foster and enhance local communities through thoughtful design and investment.”
