Leumi UK has provided a £29m facility to Commercial Estates Group (CEG) to refinance and progress the initial phases of a major residential scheme in Birmingham.

Located on Smallbrook Queensway in central Birmingham opposite New Street Station, once developed the site will comprise of three Build-to-Rent towers which will deliver a total of 1,635 apartments.  

Gordon Grech, at CEG, said: “We appreciate Leumi UK’s continued support throughout our second transaction together. This is a transformational project for Birmingham, and we are excited to take it to the next stage as we move towards delivery.” 

The development will feature modern, high-specification apartments and communal roof terraces and will incorporate an all-electric approach using solar panels, well-insulated materials, and energy-efficient ventilation.

Chris Stallard, relationship director at Leumi UK, commented: “We’re thrilled to work with CEG again. This development is ideally located in central Birmingham and will play an important role in providing meaningful supplies of new homes that the city urgently needs.”