Invesco Forward Fund Holloway Head for £98 Million

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Invesco Forward Fund Holloway Head for £98 Million

Global real estate investment manager, Invesco, has completed the legal documents to forward fund a £98 million investment with us to deliver 484 Build to Rent units in the centre of Birmingham.

The project, Holloway Head, is being developed in partnership with our Residential arm, with the construction of the first phase (a 17 storey building) expected to begin later this year.

Located between Blucher Street, Gough Street, and Ellis Street, Holloway Head currently comprises a car park and the Girl Guides headquarters at Trefoil House. The development will benefit from close proximity to Birmingham’s Mailbox, Arena Central, and Concord House, which is home to the city’s most expensive apartment, as well as key transport links close to the planned HS2 terminal at Curzon Street.

This development joins our significant portfolio of ongoing developments in Birmingham; including Kent Street Baths, a £133 million development of 580 apartments in two phases, and Westminster Works – a £50 million, 8 storey development of 220 units.

On Holloway Head and Invesco

John German, Managing Director of Residential Investments at Invesco Real Estate stated: ‘Adding Birmingham to our growing portfolio is a great next step [for Invesco] due to its positive market outlook, growing reputation as a business destination and positive rental growth outlook. […] As with all of our development projects, we’re excited about the opportunity to provide a ‘best in market’ residential product for today’s rental market with units designed and built for purpose with our partner, High Street Residential.’

Our Chairman, Gary Forrest added ‘Birmingham is undergoing significant regeneration and represents a great place to invest. Local demand for professionally managed, purpose built rental accommodation is rising quickly. I am delighted that Invesco Real Estate as agreed to partner with us to develop Holloway Head. Like all our developments, it offers an extremely attractive opportunity for investors to take advantage of a non-volatile, high quality asset offering attractive long term returns.’

Rental demand in Birmingham

With house prices surging due to a chronic lack of housing, demand for rented city centre living among young professionals has been driven up in the last few years. However, there are just 5,579 rental units committed to Birmingham, versus the 74,767 in London and 23,320 in Manchester.

This, combined with the city being the youngest in Europe, and a hub for over 12,000 start-ups has led to the Group and High Street Residential paying particular attention to Birmingham.

To find out more about our developments in Birmingham or across the UK, visit our Developments website.


Hadrian's Tower Timelapse - August 2019

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Hadrian's Tower Timelapse - August 2019

A time lapse of High Street Residential’s Hadrian’s Tower on Rutherford Street, Newcastle upon Tyne.


High Street Hospitality invests £3.5m in sixth hotel

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High Street Hospitality invests £3.5m in sixth hotel

Our rapidly expanding hospitality business have begun work on the construction of its sixth hotel.

High Street Hospitality are investing £3.5m in the 1.5 acre plot, which is part of the Durham Gate retail project at Thinford in County Durham.

High Street Developments will aid in the construction of the 40 bedroomed hotel, with high quality restaurant, al fresco dining and a children’s play area, which it is hoped will open for business next summer.

It will become the fourth in the Hotel 52 chain – the others being in Stanley, Washington and Whitley Bay.

See more by clicking here.


Purple Peacock to ruffle restaurant feathers: Newcastle Launch

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Purple Peacock to ruffle restaurant feathers: Newcastle Launch

Our very own Marketing Director, Sonali Craddock, has drawn on all her experience of launching a high end restaurant in India to come up with a concept that should ruffle a few feathers on the North East hospitality scene.

Having lived and worked on the sub continent for the best part of a decade, she has adapted the vibrant designs, used to such great effect there, to influence look and feel of the new Purple Peacock restaurant, which is scheduled to open its doors in Newcastle in October.

It will replace the Fat Buddha – under 55° North – as we take on the lease for this outlet and the adjacent Antler restaurant, which will evolve to deliver a sports bar theme. The move is

The Newcastle Purple Peacock Experience

Sonali, who heads up our marketing team lived in India with her parents as a child and later returned to work in Delhi.

In her own words the restaurant has a great inside vibe:  “The décor is unique, extravagant and bold, with a royal jewel colour palate and themed accessories to complement the restaurants colourful name.  There will be a giant peacock, lots of feathers and bird cage features.

We believe that visitors to the restaurant will be compelled to take photos and share these across social media.  The food will be contemporary with an element of Asian / classic fusion and we plan a strong emphasis on vegan and vegetarian cuisine.”

The Yarm Peacock

Earlier this year, we also opened a Purple Peacock at the Parkmore Hotel in Eaglescliffe, which it bought last year.  Since then a £1 million plus refurbishment has been underway in a drive to make it one of the leading dining, wedding and leisure destinations in the region.

 

The hotel – which was originally built in 1896 – will enjoy improved function and spa facilities, the upgrade of all 55 bedrooms to a very high, boutique standard and the establishment of a new bar, as well as the restaurant.