UK: Broad Street in Birmingham could be the site of two major BTR schemes, of 33 and 47 storeys respectively.
Urban Vision has submitted a planning application for the development of a 33-storey building at 100 Broad Street. The plans will deliver 294 build-to-rent homes on a brownfield site, with promises to be “one of the most sustainable in Birmingham”.
The building, which has been designed by Howells, will be an asymmetrical shape to provide most apartments with dual aspect views of the city. Designs also include communal amenities such as co-working spaces and communal lounges, rooftop gardens, as well as opportunities for independent shops, cafés, or restaurants at street level.
Urban Vision acquired the former Uber HQ last year from Euro Property Investments, with the latter securing planning in 2020 for a 61-storey tower containing 503 apartments, shops, amenities and a sky restaurant and bar. This was found to be undeliverable so never progressed.
The development is expected to create more than 50 jobs once operational, as well as many more during construction.
Nigel Robson, director at Urban Vision, said: “100 Broad Street is a fantastic opportunity to deliver one of Birmingham’s most sustainable buildings, which adds real value to the city and its skyline. We wanted to deliver something that will set the standard for tall buildings in Birmingham, but also drew on the city’s heritage. As an underutilised brownfield site, this is an opportunity to support the wider regeneration of the area – driving local growth and creating jobs. It is important we get this right.
“Our proposals are deliverable and, should planning permission be granted, construction can begin as soon as possible. We look forward to working with our partners at Birmingham City Council, and within the community, to progress the application,” he added.
Meanwhile Regal Property Group is seeking an investor to forward fund its £200 million scheme at 90 – 97 Broad Street.
BNP Paribas Real Estate has been instructed to secure a BTR funding deal for the 47-storey tower, called The Essington, close to Brindley Place.
The Essington will comprise 525 one- and two-bedroom apartments, alongside a 1,340 square metre private amenity space that incorporates coworking, gym & yoga facilities, cinema room, private dining, events room, arcade games room, nursery/crèche, and what will be the highest sky lounge in the city.
Mark Holbeche, director at Regal Property Group 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.”
Andrew Screen, head of residential capital markets at BNP Paribas Real Estate, added: “This is an excellent opportunity to secure an amenity-led BTR investment offering within a highly sought after and prime area of Birmingham’s city centre, neighbouring major cultural, business, and finance hubs, at a time where its position as the UK’s second city is being affirmed. Birmingham is a key destination for BTR investment with its demographics all pointing in favour of a scheme of this nature – a youthful and growing population of renters, many with no dependants, and a high graduate retention. Its role as a rising innovation and tech destination is fast being established too, which we anticipate will continue to draw in and maintain talent.”
It is anticipated that subject to a Section 106 Agreement, planning will be granted at the end of 2023, with start on site at the beginning of next year. Completion is expected in Q3 2027.
