PGIM Real Estate has entered into a funding partnership with Court Collaboration to support their acquisition and subsequent development of a build-to- rent scheme in Birmingham, West Midlands, on behalf of its closed PGIM Real Estate Capital VII (PRECap VII) fund. PGIM Real Estate is the US$208.7 billion real estate business of PGIM.
Located in Birmingham city centre, the new development plans feature circa 550 apartments with a range of amenities, subject to planning consent. The scheme, designed by CallisonRTKL, will see the Brindley Drive car park redeveloped, a location of strategic importance on the doorstep of many of the City’s public amenities, as well as the Paradise Redevelopment (a key urban mixed-use regeneration project in the heart of the city). The scheme will be delivered by specialist residential developer, Court Collaboration, which owns and manages over £1.5 billion of residential real estate developments across the West Midlands and throughout the UK. Over the last 12 months, UK rents have been increasing on average at 7.5%, with Birmingham up by 9.4%, higher than the UK average (excluding London).
The announcement comes just days before the beginning of the Birmingham 2022 Commonwealth Games, with excitement growing in a city set to show the world once again just how much it has to offer.
As well as delivering stunning high-quality properties, Court Collaboration is committed towards creating transformational developments which support local communities and economies. From initial search and acquisition, to planning procurement, construction project management and international sales delivery, Court Collaboration manages each and all of the key aspects of the development journey for its clients.
The company currently has 7 active developments across the region with circa 4,500 residential units on site or at planning stages, with more to follow.
