Riverlow Group has submitted plans for the £52m second phase of its build-to-rent scheme at Queensgate Square in Birmingham.
Under the plans, the existing 1950s office block and derelict car park on Suffolk Street Queensway, opposite the Mailbox, would be demolished and replaced with two residential buildings of 15 and 12 storeys. These would provide 159 one to three-bedroom flats, 55 of which would be affordable.
Communal gardens would be shared with phase one of the project – Queensgate House – which is currently under construction.
When completed in 2024, Queensgate House will provide 68 rental flats.
Mark Reisner, director of research and development at Riverlow, said: “Despite all the recent economic turbulence, the investors we speak with regularly, wherever they are in the world, all know that Birmingham remains rich with investment opportunities. Aspirational apartments are always in high demand, especially for rent…
“Queensgate’s situation is particularly special. You are right in the heart of the city centre, only a few minutes’ walk away from the high street, New Street and the under-construction HS2 rail station. The development will be car-free with ample secure bike storage.”
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG
