Standby For The Brum PRS Surge
Birmingham’s first purpose-built private rental sector scheme has topped out as the city's PRS sector gathers strength.
The £50M Forum at Pershore Street, next to the former wholesale markets site in the Smithfield district, is being developed by Rockspring Property Investment Managers. Bouygues U.K. is the main contractor and Linkcity is development manager.
Rockspring has appointed Atlas Residential to let and manage the one-bed, two-bed and studio homes, which are available exclusively to let.
The first new residents will be welcomed from summer 2018.
JLL has calculated a Birmingham city-centre residential pipeline of around 9,000 units, with the majority for rent.
Significant PRS developments include LaSalle Investment Management’s backing for the £100M 603-unit Exchange Square; Aprirose/Regal Property Group are developing a 22-storey PRS scheme at Broad Street; whilst Manchester-based MCR Property has announced plans for a £275M development at Bristol Street.