Munich-based family office AM alpha has acquired the Westminster Works project development in Birmingham, UK, for an undisclosed amount.
The project comprises 220 build to rent flats scheduled for completion in early 2026. Construction work has already begun.
AM alpha acted on behalf of several investors who are represented by a pension fund manager from Hamburg.
The mix of 1-bed and 2-bed flats at Westminster Works is characterised by a high degree of sustainability, as the entire complex is equipped with thermal air conditioning and a photovoltaic system. Residents of Westminster Works will have access to a number of amenities, including a concierge service, 24/7 security, a gym and smart building technology.
The seven-storey "Westminster Works" building is on Alcester Street in the Digbeth district. It benefits above all from its location: firstly, it is close to the city centre, and secondly, the area is connected to the planned "High Speed 2" train line via New Street station. "This will reduce the journey time between Birmingham and London to under an hour," explains Martin Lemke, Managing Director of AM alpha. "The first blue chip companies from London have already relocated to Birmingham. This influx of companies will further increase the already high demand for residential space."
'More and more people are opting for rental flats in city centres. We are already seeing a rise in rents for high-quality build-to-rent flats - especially in well-connected urban areas,' commented AM alpha's Martin Lemke. 'For strategic investors, investments in build-to-rent housings offer enormous growth potential. We will continue to expand our portfolio in the dynamic growth regions of the UK.'
