Birmingham City Council has approved planning permission for Goodstone Living’s build-to-rent (BTR) residential scheme, enabling the development of 550 new rental homes.

The four acre site is located in Digbeth, a short walk from Birmingham New Street and Curzon Street (HS2) train stations and the Bullring shopping Centre and retail quarter.

The approved plans are for six residential buildings arranged around an acre of private gardens and will also include approximately 22,000 sq ft of shared internal amenity space consisting of a concierge, fully equipped gym, co-working office space, private dining rooms and rooftop terraces.

Martin Bellinger, Principal at Goodstone Living, said: “Birmingham’s BTR market is hugely competitive, which puts the onus on developers and investors to keep raising the bar of what renters can expect. Our Birmingham scheme is an excellent illustration of that in action, with the city’s largest private garden, low site coverage, and an unwavering focus on how we can create, foster and enhance local communities through thoughtful design and investment.”

The equity funding for the project has been secured from a number of UK and international real estate investors, including Northern LGPS (Local Government Pension Scheme pool of Greater Manchester, West Yorkshire and Merseyside Pension Funds). The design and procurement of the scheme is currently underway with construction expected to commence in Q1 2023.