Birmingham BTR scheme gets £130m backing
The regeneration of a former factory site in Kent Street has taken a step forward, after Mclaren Living teamed up with Heim Global to develop a 456-home residential scheme.
The twelve-storey Oasis development near the city’s Theatreland district, which received planning approval from Birmingham City Council in 2022, is scheduled to be completed in 2029.
The scheme will consist of one- and two-bedroom homes within an 11-storey building, along with a gym, residents’ lounge, and co-working space while external amenity includes a landscaped resident courtyard and terraces.
The £130m investment is being forward funded by Heim, with McLaren Living acting as the developer, and Winvic as contractor.
Matthew Biddle, managing director, McLaren Living, said: “We are delighted to build on our trusted partnership and add to our strong pipeline of projects across the UK’s best locations and cities. Oasis, with its city centre location, local amenities and good connections is a great addition to our portfolio.
“We are looking forward to continuing to grow our partnership with Heim and collaborate on developments where we have a shared vison.”
The development is Heim Global Investor and McLaren Living’s second partnership after the Water Lane development in Leeds.
David Peacock, Director at Heim Global Investor, said: “We are delighted to continue our partnership with McLaren Living, alongside Winvic Construction, to deploy more capital for our UK build-to-core fund.
“This development fits perfectly with our strategy of developing mid-market rental homes across the UK’s key cities with experienced partners. We continue to be very active in the market and have a strong pipeline of opportunities as we continue to grow our presence in the UK.”
