Purchase of Kent Street Baths, Birmingham
We are pleased to announce the purchase of Kent Street Baths, Plot 1 for £20m.
Kent Street Baths, Plot 1 is a large residential development in the centre of Birmingham, within the regeneration area of the future Smithfield Masterplan. This development will comprise of four blocks around a private courtyard, within a central circular hub and will consist of apartments and mixed use developments. This will see the construction of flexible retail, restaurant, leisure or office space and see the provisions for car and cycle parking.
The Gross Development Value of this development is £114 million.
Previously the site of swimming baths, the area has been underutilised in the past 30 years. The overall development is located within the Southern Gateway £1 billion regeneration zone, which the government has brought forward as part of the high speed rail network ‘HS2’ masterplan. Through this masterplan, Birmingham will create a world class station that will become a gateway to both the UK and European high-speed rail network.
Kent Street Baths will join our ever increasing portfolio in Birmingham which includes projects such as Westminster Works, Holloway Head and Charter 1. As well as these projects, you may also be aware of our purchase of Kent Street Residence last year (formerly Kent Street Baths, Plot 2) which was part of the same site. This will see the overall GDV of developments in Birmingham at approximately £520 million.
Kent Street Baths and the other developments will fit in nicely with Birmingham’s ambitious growth agenda and will help meet the needs of its growing population. The City’s plan is the most far-reaching development project in the UK, with major plans over the next 20 years including over 5,000 new homes and 50,000 new jobs.
High Street Residential Private Rental Schemes Pipeline
- The Kent Street Baths site in Birmingham – £133m project to create 580 apartments in two complexes
- Moseley Street, Digbeth, Birmingham – £50m, eight-storey development of 220 units
- Holloway Head in Birmingham – £120m initiative comprising 500 apartments over 17 storeys
- Trafford, Manchester – £22m, ten storey, 156 unit development
- Warrington City Centre – a £46m eight storey, 362 unit project
- Brett Wharf in Gateshead – around 220 apartments in a £35m riverside development
- Pottery Lane, Newcastle – proposals for 270 flats in a £36m development on land between the Centre for Life and the River Tyne – which has been earmarked for regeneration
- Silbury Boulevard, Milton Keynes – a £30m investment creating a seven storey facility containing 139 apartments.
- Newcastle’s tallest building, the 27 storey Hadrian’s Tower in Rutherford Street – a 127 unit, £46m scheme
- Middlewood Locks in Salford – a £26m, nine storey, 127 unit development