PATRIZIA goes into bat with Warwickshire County Cricket Club and the HCA to build latest Build to Rent site in Birmingham

14 August 2017

PATRIZIA UK has exchanged on four acres of land from Warwickshire County Cricket Club and the Homes and Communities Agency (HCA) at the iconic Edgbaston Stadium for the development of 375 new Build to Rent (BTR) homes with a GDV of circa £85 million, subject to planning and local consents.  Savills acted for the HCA and Warwickshire County Cricket Club.

The acquisition in south Birmingham builds on PATRIZIA’s growing UK BTR platform, which includes a major mixed use scheme in Manchester that is currently being delivered.

Located less than 10 minutes from the centre of Birmingham, the acquisition comprises two plots which will provide new homes for rent, as well as ground level retail units and resident’s parking. A new access road will be delivered as part of the plans for the site, and tenants will also benefit from Birmingham’s new two-way, fully segregated cycle highway, which will run close-by to the scheme and connect it to the city centre.

The site is located adjacent to Edgbaston Stadium, home to Warwickshire County Cricket Club and Birmingham Bears, in addition to being one of the world’s most famous international cricket venues, having hosted 49 Test matches, 58 One-Day Internationals and four International T20 matches to date. . Immediately opposite Edgbaston Stadium is Birmingham’s largest urban park and arts centre, while the schools and sports clubs of Edgbaston, as well as the restaurants and vibrant scene of Moseley, are also within easy reach. 

The University of Birmingham, a Russell Group university with 22,500 students, is close-by, offering first class sporting facilities which are open to the public, including a recently opened Olympic-length swimming pool. Also in the local area is the Queen Elizabeth Hospital, which employs 7,000 people and Life Science Park, a new £250 million research campus development that will create 2,500 new jobs, all of which will support demand for high quality private rental accommodation.

James Muir, Managing Director at PATRIZIA UK & Ireland, said: “We set out with a clear strategy for our UK BTR platform which was to target urban centres with strong demographic fundamentals.”

“Edgbaston is an established and thriving part of Birmingham, and this particular location has access to the best of the city, including sports, employment, entertainment and dining out. We are pleased to have agreed this plan with both Warwickshire County Cricket Club and the Homes and Communities Agency which is aligned with our commitment to build more UK homes.”

Neil Snowball, Chief Executive of Warwickshire County Cricket Club and Edgbaston Stadium, said: “This next phase of our development is great news for the club and for the City of Birmingham. The apartments and retail outlets combined with the new entrance and plaza will make this part of Edgbaston, and the Stadium in particular, a 365-days a year destination and further enhance our match day experience for our members, our supporters and for Cricket fans from around the world.

“The announcement of this new development is another key stage in our 20 year Edgbaston Stadium Masterplan that started in 2010 with the £32 million investment in the Stadium including the iconic South Stand that provides world class facilities for our members, players, officials, press, broadcasters and hospitality guests.

“We are very pleased about today’s announcement and look forward to working with PATRIZIA and our key stakeholders across the city in order turn these plans into reality.”

Karl Tupling, General Manager at the Homes and Communities Agency said: “Our partnership with PATRIZIA will help provide more homes for people in this popular area of Birmingham, and it is great to see a European investment manager investing in the UK housing market.”

 

 
 

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