Fortwell Capital has provided a £30m development loan for a 28-storey tower in Birmingham’s Southside.
The facility to local developer Regal Property Group will see 154 new for-sale flats at the South Central scheme, on Essex Street.
Regal Property Group is best known for its high-rise development around Broad Street at the Bank Towers I and II. These schemes were delivered by Wates Construction, which is also contracted for South Central.
Mark Holbeche, development director at Regal Property Group, said: “Birmingham’s development landscape is shifting towards true city living, and the funding from Fortwell will enable our experienced and agile team to continue to play a key role in this shift.
“We also look ahead to bringing a pipeline of further exemplary schemes to the Birmingham marketplace.”
LEXI Finance advised Regal Property Group.
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