Regal Property Group has appointed BNP Paribas Real Estate to secure a build-to-rent forward-funding investor for its £200m tower in Birmingham.
90-97 Broad Street is located in the Westside area of the city, close to Brindley Place.
The 47-storey tower will provide 525 homes and amenities including a gym, cinema, private dining room, arcade games room, nursery and the highest sky lounge in 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.
“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 S106 Agreement, planning will be granted in Q4, with works commencing in Q1 2024. It would reach completion in Q3 2027.
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews
