Moda Living and Apache Capital have received planning consent for a £260m build-to-rent scheme at Birmingham’s long-stalled “bomb site”.
The scheme will create 722 flats and public realm at the vacant car park at Great Charles Square, bridging the city’s Jewellery Quarter and business district.
The two-acre Great Charles Square has been nicknamed “the bomb site” due to its poor state, with the area still only holding a car park. For years developers have failed to bring forward varying schemes from offices to residential, due to site constraints and viability challenges.
Moda and Apache have purchased the special purpose vehicle which holds the development agreement and will work with freeholder Birmingham City Council. It is the pair’s second scheme after the Mercian on Broad Street, with Goldman Sach’s first BTR debt deal.
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