Camborne Land Investments (CLI) has acquired a site in Birmingham, UK, from Benacre Properties to construct a build-to-rent residential project.
CLI is planning to develop the site under its new Hygge brand. The project, provisionally known as Kent Street Baths, is estimated to cost up to £100M.
Kent Street Baths will have a gross internal area of 41,800 sq m over 15 floors. It will feature a range of studio, one-, two- and three-bedroom apartments.
The site is bounded by Bromsgrove Street, Gooch Street North, Kent Street and Henstead Street, and close to the Bullring at the heart of the city.
Glenn Howells Architects will serve as the concept architects on the project.
Camborne Capital Group CEO Declan Mackle said: "The securing of a premium, central site in Birmingham is a strong start for CLI. The Kent Street Baths development epitomises the site and location characteristics that we are looking for across our portfolio, and represents a unique opportunity to build a strong, thriving rental community in the heart of one of the UK’s leading cities.
"We are proud to be participating in the exciting regeneration of Birmingham. The city is a major focus of real estate investors not just in the UK, but internationally at present.
“We aim to build Hygge as a premium pioneer brand in the Build To Rent sector, offering an attractive design, energy-efficient, technology and service quality ethos for young professionals and middle income families seeking long-term, safe, secure homes.”
The firm is planning to build 5,000 homes over the next five years.
* Data provided by Timetric's Construction Intelligence Center.