Patrizia is close to agreeing a deal for a private rental residential-led redevelopment next to Edgbaston cricket ground in Birmingham.
The 6.8-acre Pershore Road site is being sold by Warwickshire County Cricket Club and the Homes and Communities Agency.
Consent exists for a residential-led mixed-use scheme, but it is expected that plans will be re-submitted for a build-to-rent-led development which could accommodate around 350 homes and have a gross development value of £55m to £60m.
A £32m redevelopment of the cricket ground was completed in 2011, which allowed it to attract more lucrative fixtures, such as the T20 Finals Day (pictured), and to improve conference facilities to provide year-round income.
Savills is advising the vendors. All parties declined to comment.
• To send feedback, e-mail alex.peace@estategzette.com or tweet @egalexpeace or @estatesgazette
