Students nationwide are spending up to 65% of their student loan on rent according to research by Studenttenant.comWritten by Redbrick on 15th December 2017
£100m Apartment Complex Planned for City Centre
Following the trend of development in our city centre, plans to build a £100m apartment complex in central Birmingham have been proposed
The land was acquired in March 2017. Camborne Land Investments (CLI) and Urban High Developments hope to provide a range of accommodation: studios, as well as one, two and three-bedroom apartments. There will be 500 total homes, with 400 available to rent and 100 to be bought.
The blocks will range from six to eighteen storeys, boasting many amenities for residents, such as a public courtyard, private residents’ hub and a retail space. CLI propose that the project is aimed at providing homes for young professionals and middle-income families.
Investment director at Camborne Land Investments, Conal Long, hopes that the apartments will provide ‘high-quality housing that is both sustainable and accessible for modern living’, owing the confidence behind this project to ‘Birmingham’s drive and ambition'.
‘Our plans for a rental-led development at the former Kent Street Baths site continues the regeneration of Southside in Birmingham’.
According to their website, Camborne’s goal is to provide 5,000 energy efficient, attractive and purpose-built homes in the next five years. They will be focusing on both social and environmental sustainability.
“Our key focus for the Kent Street Baths scheme is to ensure community is central to the development
The complex has been designed by Glenn Howells Architects, a Birmingham-based company credited with designing the likes of Edgbaston Priory Club, the John Lewis anchor store in Exeter and the University of Birmingham’s very own Bramall Music Building.
Their director, Dav Bansal, said: ‘Our key focus for the Kent Street Baths scheme is to ensure community is central to the development by creating a desirable, innovative and attractive environment for people to live and enjoy’.
The desirable 2.25-acre site, surrounded by Kent St., Gooch St. North, Bromsgrove St. and Henstead St. was once home to Kent Street Baths, which first opened in 1852.
In spite of these being replaced in 1930 with a new building for swimming pools and baths, the site became derelict after being heavily damaged in the Second World War. They were demolished in 2009.
A mere 8-minute walk from the station, the site is situated near the O2 Academy, a popular music venue, as well as the Birmingham Hippodrome and Bullring, Birmingham’s famous shopping centre.
Allsop, a UK property consultancy, are due to find a funding partner for the development. Andy Pointon, Partner at Allsop, said that ‘Build to Rent developments are crucial to the government’s plans for the housing sector, offering a flexible alternative for modern living and, combined with Birmingham’s increasing popularity, we believe this scheme will raise the bar for the residential rental market in the City’.
Awaiting planning approval, building is due to begin in summer 2018.