Property developer Select Property has secured £44.5 mln (€51.5 mln) in financing from UK merchant bank Close Brothers to support a built-to-rent development in the UK.
Select Property is expanding its Affinity Living BTR brand to Birmingham with this new project, adding to its four existing properties in Manchester.
Due for completion in Q3 2025, Affinity Living Lancaster Wharf will provide 266 high-quality, resident-centric rental apartments in the city centre, which have already been sold for £77 mln (€90 mln). Residents will enjoy amenities such as a gym, rooftop garden, and co-working space.
Corstorphine + Wright designed Lancaster Wharf with Torsion as the main contractor.
The property is conveniently located a 10-minute walk from Snow Hill Station and Colmore Row, at the corner of Princip Street and New Town Row, in Birmingham’s Gun Quarter.
Adam Price, CEO at Select Property, said: ‘Our new property at Lancaster Wharf will provide best-in-class rental homes in an unrivalled location with community at its heart, so we have no doubt that resident demand will mirror the demand we have seen from investors for this development. Close Brothers has been an invaluable partner to us in this project, working quickly to provide us with the support we need to see the development through to completion.’
Simon Powell, director at Close Brothers, added: ‘Situated within an area of major regeneration, Lancaster Wharf will provide much-needed, high-quality apartments for the rental market that will complement the ongoing improvements in the wider area. We have supported housebuilders and developers for over 40 years and look forward to continuing to do so over the coming years with experienced partners like Select Property.’
Affinity Living provides high-quality, community-led, and resident-centric homes in the the most vibrant regional cities.
