Camborne Land Investments has bought a Birmingham site for a build-to-rent residential scheme.
The privately owned London-based firm said it plans to develop 500 private-rented sector (PRS) units on the site.
The £85m-100m Kent Street scheme is the firm’s first as it aims to develop 5,000 PRS units in the next five years.
Declan Mackle, chief executive of Camborne Capital, said: “The Kent Street Baths development epitomises the site and location characteristics that we are looking for across our portfolio, and represents a unique opportunity to build a strong, thriving rental community in the heart of one of the UK’s leading cities.”
Mackle said Birmingham was a major focus of real estate investors not just in the UK but internationally at present.
“We aim to build Hygge as a premium pioneer brand in the build-to-rent sector, offering an attractive design, energy-efficient technology, and service-quality ethos for young professionals and middle income families seeking long-term, safe, secure homes.”
The 450,000sqft scheme, sold by Benacre Properties, will include a mix of flats and studios.
