Patrizia secures planning approval for BTR scheme in Birmingham

WCN Editorial Team 21 Mar 2019 EUROPE BUILDINGS

German real estate company Patrizia Immobilien has secured planning permission for Edgbaston Residences, a £85m build-to-rent (BTR) scheme in Birmingham.

The single-property scheme will consist of 375 apartments, in addition to 20,000ft² of retail and leisure space on the ground floor.

Construction is expected to be completed in 2022.

In 2017, Patrizia acquired the site, adjacent to the Edgbaston Cricket Stadium and close to the University of Birmingham, Queen Elizabeth Hospital and Birmingham Life Sciences Park.

Patrizia head of development, UK, Daniel Williams, said: “This new development will address Birmingham’s urgent need for first-rate rental accommodation whilst also providing an attractive offer for local residents, as well as for those visiting Edgbaston Stadium.

“This also follows the recent completion of Forum, our first BTR development in Birmingham, which is already close to full occupancy.

“The provision of new homes is paramount for local and national talent looking to live and work in Birmingham, and this development provides just that.

“Throughout the planning process we have worked closely with both Warwickshire County Cricket Club and Homes England to ensure these plans are right for the local community, as well as for the iconic Edgbaston Stadium, the Club and its visitors.”

Edgbaston Residences is Patrizia’s fourth BTR scheme, which will bring 600 new BTR units into operation in conjunction with a further development in London.

The company also operates 600 BTR units in Southampton and Birmingham.

Delivery of new housing is below the government’s target of delivering 300,000 units per annum and rental properties are expected to resolve the housing shortage.

Edgbaston Residences is part of Patrizia’s plans to expand its residential investment across the UK and Ireland.

Warwickshire CCC CEO Neil Snowball said: “By delivering new apartments and commercial opportunities for cafes and restaurants, this development project will transform the area around Edgbaston Stadium and make it a destination for people to visit 365 days each year.

“We’re also delighted that the approval of these plans enables the club to benefit from a new entrance plaza, which will provide a much warmer and impressive welcome to all visitors, whilst the reconfiguration of the car park and new landscaping will provide greener, contemporary surroundings for the stadium.”

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Image: Rendering of Edgbaston Residences build-to-rent scheme in Birmingham. Photo: Courtesy of The Warwickshire County Cricket Club Limited.

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