Kent Street Project in Birmingham to begin shortly

Construction work is scheduled to commence on the new Kent Street Project in Birmingham which is being built by the contractor company Nobles Construction on behalf of the High Street Group.

Going into further detail, the Kent Street project will entail the delivery of 262 privately sold/rented apartments with one-to-two bedrooms as well as retail space, a café, a gym, and a residents’ hub, all contained within a ten-storey building with frontages on Bromsgrove Street, Gooch Street North, Kent Street, and Henstead Street.

Furthermore, the building has cost a grand total of some £133M with £49.7M in forward funding having been provided by The Cording Real Estate Group, a member of the Edmond de Rothschild Real Estate investment management platform.

As has already been mentioned, work is set to begin this month on the construction process, with completion not forecast to be achieved until June 2022, however planning applications are in place to increase the number of apartments in the building by 17, to 279, and also for the construction of a second 19-storey building adjacent, which should begin development next year and be completed by the year 2023.

The High Street Group Chairman, Gary Forrest stated: “This demonstrates the confidence which investors have in PRS. It offers extremely attractive yields and capital growth in the form of non-volatile, high quality assets with attractive, long term returns.”

“Birmingham is undergoing significant regeneration and represents a great place to invest. Local demand for professionally managed, purpose built rental accommodation is rising quickly and to meet this we are creating high quality living spaces, future proofed through the use of the latest smart technologies. There will also be communal relaxation facilities, where people can meet, form friendships and build new communities.”

The High Street Group are a Newcastle-based property development company.

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