Winvic Construction and its client Edmond de Rothschild has celebrated the topping out of a 406-apartment build-to-rent project on Kent Street in the centre of Birmingham. To mark the occasion, one of the final sections of concrete was poured – an upstand to an automatic opening vent on the seventeenth-storey
RESEARCH by the British Property Federation and Savills, predicting a huge expected growth of build-to-rent (BTR) homes in the UK over the course of the next decade – from 76,800 to more than 380,000 – is a product of a changing Britain says Paul Staley, director at Wise Living. Paul
Harworth Group plc, a leading regenerator of land and property for sustainable development and investment announces the launch of “Project Spur”, a single family Built to Rent (“BTR”) portfolio of around 1,200 homes across 10 of its development sites. Harworth is today publishing marketing materials for the scheme, which represents
Construction at Millwrights Place and Coopers Court, Finzels Reach, Bristol, has reached a major milestone with ‘topping out’ being achieved. The projects form the second Cubex/Grainger Build to Rent scheme in the city, providing high-quality rental homes and much needed affordable new homes for Abri. Councillor Tom Renhard, Cabinet Member
Research from build to rent specialists, Ascend Properties, shows that the UK build to rent sector has performed well during the pandemic year with planning permission requests rising by 52%. Build to rent (B2R) is becoming a driving force in the UK new-build market, and while the COVID-19 pandemic has
Research from Build to Rent specialists, Ascend Properties, has revealed how the sector is poised to gain further momentum due to the number of units currently under construction. Previous research by Ascend found that where pandemic completions across the BTR sector were concerned, London had seen a 28% uplift, while
Research from Build to Rent specialists, Ascend Properties, has revealed which areas of the English rental market have performed the strongest since the 2008/09 recession where the growth in average rental income is concerned. Ascend analysed rental market values during the last property market crash and found that the average
National Regional Property Group and PMC Construction have completed Southampton’s second Build to Rent (BTR) scheme, and have now handed over the landmark building in the heart of the city to residential landlord, Grainger plc. Grainger plc agreed to forward-fund and acquire the Private Rented Sector (PRS) scheme of 132
UK residential and commercial property developer Godwin Developments has submitted proposals for 116 build-to-rent (BTR) homes and flexible commercial space in Ely, Cambridgeshire. The scheme, named Cathedral Green, has been designed to create an ‘urban village’ style community for residents of various ages and will deliver much-needed quality housing for
The construction of new apartments in Birmingham is being supported by a funding deal worth £21 million. The new capital has been received by Cedar Invest, who will use the funding to support its project to build 140 new apartments in Digbeth. The five-storey development, named The Forge, consists of a
Winvic Construction and its client Edmond de Rothschild has celebrated the topping out of a 406-apartment build-to-rent project on Kent Street in the centre of Birmingham. To mark the occasion, one of the final sections of concrete was poured – an upstand to an automatic opening vent on the seventeenth-storey roof of Block A – and finished by the investment house’s leadership team and Winvic’s Director of Multi-room, Mark Jones. The project, which comprises 154 one-bedroom, 228 two-bedroom and 24 three-bedroom apartments is on the former site of the Kent Street Swimming Baths. Winvic began the enabling works in April 2021 and construction works commenced in August 2021. Contained by roads on all sides, the compact site has seen the reinforced concrete slip formed cores and frames rise to seven, eight, 10 and 18 storeys since then. The 10-storey tower is on the corner of Gooch Street and Kent Street and the tallest block – which also has a basement car park for 95 vehicles – is on the corner Bromsgrove Street and Henstead Street. Works to the roofs as well as the Steel Frame System and window installations are over halfway through their programmes across the whole project. The Winvic team is also focusing on the façade to Block D – where brick slip panels are being installed – and internal fit out to Blocks D, A and C including partitions, first fix mechanical and electrical works and the plant room. The scheme will also feature green roofs, a ground floor commercial space, shared resident amenity areas and a landscaped central courtyard with community hub. Winvic is scheduled to hand over the scheme in 2024. Mark Jones, Winvic’s Director of Multi-room, said: “It’s particularly rewarding to reach the topping out stage of a RC Framed building and we were delighted to be able to celebrate this important milestone with our client and the funders. We’ve been working as one team with Edmond de Rothschild to ensure progress is on track and the people of Birmingham will now start to see the brick slip façade envelop the buildings. I’d like to thank our team for their hard work to get to this stage. Everyone is looking forward to a productive year and final push to completion in 2024.” Tim Holden, Edmond de Rothschild – REIM Head of Residential UK – added: “We are delighted to be developing 400 apartments for Build-to-rent in Birmingham in partnership with Winvic. This scheme is an important project in our 2,600-unit portfolio. Working with Winvic is always a good experience and the topping out is an important milestone. We look forward to reaching practical completion so that our in-house lettings and property management service can begin to let and manage this exciting place-making scheme in the centre of Birmingham. I would like to thank our investors for participating in this project and the project team that’s bringing this landmark project to fruition.” Building, Design and Construction Magazine | The Choice of Industry Professionals
RESEARCH by the British Property Federation and Savills, predicting a huge expected growth of build-to-rent (BTR) homes in the UK over the course of the next decade – from 76,800 to more than 380,000 – is a product of a changing Britain says Paul Staley, director at Wise Living. Paul said: “With the ongoing housing crisis, interest rate hikes on mortgages and an increased pressure on raising housing standards that are squeezing private landlords, professionally managed BTR homes are becoming more essential in the UK as the buy-to-let industry struggles to keep up with demand as home ownership becomes more unattainable. “People need a place to call home and it looks increasingly like BTR homes are poised to fill the gap within the housing market and will take a leading role. So, while the origins of BTR were student accommodation and city centre apartment schemes, this will expand into the rise of BTR single family homes (SFH). “Therefore, the predictions that SFH are expected to grow to 18% of all BTR stock from its 12% today is not a surprise. More people, right across the UK – not just in cities – want to rent a family home.” This change in the UK housing landscape is also influencing the behaviours of property stakeholders who are responding to these trends, according to Paul. Paul said: “For investors and housing developers, this has meant a shift in the types of portfolios they are creating. It makes sense to diversify and spread both the risk and opportunity. They are doing this by looking outside of the more established BTR markets and into SFH in suburban towns. “In fact, as the UK follows European trends and continues to change from a buying generation into a renting culture, it is highly likely that SFH will outpace other types of BTR housing eventually. At Wise Living we have seen this demand in-action, with over 15 schemes delivered in the past few years and a healthy pipeline of single family BTR developments.” As the industry grows this will inevitably increase the number of BTR specialists who will enter the market too, however this needs to be approached with caution, explained Paul. Paul said: “The industry has grown considerably over the last decade, but its success is dependent on the knowledge of the BTR specialists who need to guide investors, developers and local authorities in making the best decisions. Everything from location, housing layouts and types must be looked at and specifications developed to maximise return on investment, while also providing housing that is both high quality and value for money. “The earlier the conversation when it comes to coordinating value for BTR opportunities makes the process more efficient, less risky and speeds up return on investment.” To find out more about Wise Living, visit www.wiselivinghomes.co.uk/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Harworth Group plc, a leading regenerator of land and property for sustainable development and investment announces the launch of “Project Spur”, a single family Built to Rent (“BTR”) portfolio of around 1,200 homes across 10 of its development sites. Harworth is today publishing marketing materials for the scheme, which represents a unique forward funding and long-term investment opportunity for a prospective partner. Harworth announced plans to develop a single family BTR product in September 2021, as part of its strategy to grow its business to £1bn of EPRA NDV1 over five to seven years. This new product will be complementary to Harworth’s existing Build to Sell products developed by housebuilders at its residential sites and will support the Company’s ambition to double its residential plot sales to around 2,000 plots per annum over its strategic plan period. Project Spur will be an opportunity to acquire a single family housing portfolio of significant scale across 10 established sites in Yorkshire, the Midlands and the North West. The sites are in strong locations which are in close proximity to major conurbations and employment centres, as well as local amenities and transport connections. The sites have also benefited from Harworth’s investment, as well as its masterplanning and placemaking expertise, which have delivered extensive green space, recreational facilities and a well-deigned public realm. The introduction of the BTR product is expected to further add to the vibrancy and attractiveness of these communities. The housing type composition for the portfolio has been optimised for the single family BTR market, with a focus on two- and three-bedroom homes, all built to a high-quality design which is centred on sustainability. The project has an anticipated delivery timeline of three years, with phased handovers of the sites during this time. There will be the potential, subject to further agreement, for the partner to work with Harworth to introduce the single family BTR product to additional sites as part of future phases of development. Project Spur is being marketed by Allsop on behalf of Harworth. 1 European Public Real Estate Association (“EPRA”) Net Disposal Value: an adjusted net asset value metric that is one of Harworth’s Key Performance Indicators. “Harworth’s extensive portfolio is particularly well suited to delivering institutional quality single family rental homes at scale. Project Spur is part of our strategy to accelerate the development of our residential sites, providing a range of homes for local people and enabling diverse communities. We look forward to working with partners aligned to our purpose and ambitions, to continue delivering places where people want to live and work.” Lynda Shillaw, Chief Executive, Harworth Group “Project Spur is a rare opportunity to partner with one of the UK’s leading land and property regeneration specialists. Located in suburban communities across Yorkshire, the Midlands and the North West, these units provide a diverse and defensible portfolio of properties that benefit from close proximity and strong transport links to nearby employment and amenity centres.” James Crow, Head of Mixed Tenure, Harworth Group
Construction at Millwrights Place and Coopers Court, Finzels Reach, Bristol, has reached a major milestone with ‘topping out’ being achieved. The projects form the second Cubex/Grainger Build to Rent scheme in the city, providing high-quality rental homes and much needed affordable new homes for Abri. Councillor Tom Renhard, Cabinet Member for Housing, Delivery and Homes at Bristol City Council, laid the final piece of concrete at Millwrights Place alongside representatives from the respective owners of the two schemes, namely housing provider Abri and Build to Rent Landlord Grainger plc. Millwrights Place, developed by Cubex for Grainger plc, who will own and operate the scheme when complete, will provide 231 ‘Build to Rent’ homes created specifically for renters. All new homes will be professionally managed by Grainger’s dedicated onsite Resident Services team and in addition to offering high quality homes there will be a strong emphasis on shared resident amenity spaces, including roof top terraces, residents’ lounge, gym, co-working space and shared entertainment spaces. At ground level there will be co-working spaces custom-made for those working independently or running their own business. Grainger, the UK’s largest listed residential landlord and a FTSE-250 listed business has over 100 years’ experience as a residential landlord and is a leader in the UK private rental market, leading the way in the emerging Build to Rent sector and raising the bar in the rental market by providing high quality, mid-market rental homes for young professionals, key workers and families on regular incomes. Coopers Court, developed by Cubex for the social housing provider Abri, will deliver 66 affordable homes consisting of 48 homes for the social rented market and 18 for shared ownership. The energy-efficient building includes a bio-diversity roof amenity space, 94 cycling spaces and only four car parking spaces in line with the city’s drive to help tackle the environmental crisis. Together, Coopers Court and Millwrights Place will help to address the housing crisis in Bristol by providing social housing, an opportunity for first-time buyers to get on the property ladder and high-quality rental accommodation all of which is much needed in the city. Both buildings have been designed to have strong identities and a sense of place, whilst ensuring they integrate well with the surrounding area. Significant investment in improvements to the area around the buildings, including new landscaping, traffic management, pedestrian and cycle routes, will help create a more attractive area and foster a sense of community. As part of a £2.4m investment in improvements around the site, there will be new ‘pocket parks’ with seating and soft landscaping to create relaxing spaces the whole community can enjoy. As well as Coopers Court and Millwrights Place, the second phase of Cubex’s mixed-use Finzels Reach development on the former fire station site, incorporates a landmark, sustainable 116,000 sq. ft office building named Halo, with notable tenants confirmed including international legal firm Osborne Clarke and accountancy firm Deloitte. Councillor Tom Renhard, Cabinet Member for Housing Delivery and Homes, said: “Demand for housing in Bristol far outstrips the number of homes available and it’s vitally important that we deliver a mixture of different types of housing to meet our city’s need. These new developments at Finzels Reach, offering affordable homes for social rent and shared ownership, and managed homes for rent, demonstrate that by working together we can deliver good quality homes for all. “We’ve got Bristol building since 2016, with over 9,000 new homes delivered for Bristolians. These new homes in central Bristol will add another 297 to that total – including 66 new affordable homes.” Peter Walford, managing director at Cubex, said: “We are thrilled to have reached this important milestone on Coopers Court and Millwrights Place, an integral part of Finzels Reach phase two. Thanks to a successful partnership approach with both housing provider Abri and professional landlords Grainger, plus our construction partner Wilmott Dixon, this once-derelict city centre site is fast being transformed into much-needed, high quality affordable accommodation to add to the 440 homes we have already delivered at Finzels Reach. Neal Stephens, managing director from Wilmott Dixon Wales and West, said: “Together, Millwrights Place and Coopers Court are the fourth project that we have worked on alongside Cubex and as part of this long standing and collaborative partnership we are delighted to have the opportunity to deliver this regenerative development. Millwrights Place and Coopers Court will provide much needed high-quality housing in Bristol, and we at Wilmott Dixon are proud to be part of the team that has delivered this landmark scheme.” Helen Gordon, Chief Executive at Grainger plc, said: “We are delighted to have reached this milestone for our Millwrights Place development – a great addition to our Bristol portfolio and delivering much needed new homes in one of our key target cities. We look forward to seeing the development progress over the coming months in the lead up to our launch – providing high quality homes, a commitment to excellent customer service and establishing a thriving new community for renters in Bristol.” Michelle Hyde, head of land and planning at Abri, commented: “It’s great to be a step closer to providing affordable homes in such a central location in Bristol and to be helping to transform a former derelict site into a place of real value for the community. “On our part, Abri is committed to delivering 12,500 new homes by 2030 and Coopers Court is a great example of how working with our partners we’re collectively helping to tackle the unmet housing need.” Cubex bought the former fire station site in summer 2018 on behalf of Fiera Real Estate Opportunity Fund IV (UK), a programmatic joint venture by FRE UK that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP). Award-winning Finzels Reach is one of the largest mixed-use developments in the South West. The first phase, which is complete, includes 440 new apartments, 240,000 sq.ft of office space including two Grade A office buildings, a 168-bedroom Premier Inn, plus a host of
Research from build to rent specialists, Ascend Properties, shows that the UK build to rent sector has performed well during the pandemic year with planning permission requests rising by 52%. Build to rent (B2R) is becoming a driving force in the UK new-build market, and while the COVID-19 pandemic has slightly slowed what looked to be a very impressive rate of growth, the B2R market has done an admirable job of recovering from the early shock to maintain positive momentum throughout a challenging year. Planning permission applications are a useful way to measure UK B2R performance because they show exactly how many developments are being conceived, how many of those result in permission being granted, and how many are either refused or withdrawn by the applicant. It enables us to examine both developer appetite and local authority willingness to push for a B2R boom in this country. The figures show that the pre-pandemic peak for B2R planning application approval came in Q2 2019 when 6,682 applications were submitted. Of these, 4,151, an all-time high of 62%, were granted full planning consent while 2,531, an all-time low of 38%, were either rejected or voluntarily withdrawn. By the time the COVID-19 pandemic began in Q1 2020, applications had risen to 7,900 submissions but the amount being granted was down to 52% while rejections and withdrawals rose to 48%. Q2 2020 brought a predictably significant slump for the sector. While the total number of B2R applications only fell slightly to 6,530, the approval rate dropped significantly to just 39%, while rejection and withdrawal jumped to almost 61%. However, from this point forward, the B2R sector quickly returned to a steady rate of growth. By Q1 2021, after a year of pandemic and lockdown, the B2R sector showed signs of being on the brink of a post-pandemic boom. An all-time high of 11,975 planning applications were submitted, up 52% on the year. Of these, 58% received full approval, a rise of almost 6% since the start of the pandemic, while 42% were either rejected or withdrawn, a drop of nearly -6% on the year. Managing Director of Ascend Properties, Ged McPartlin, commented: “It’s clear that build to rent is becoming the go-to choice for developers, with projects popping up both in major cities and smaller regional towns. “But what we’re also seeing is a clear uptick in willingness from local planning authorities to grant permission for build to rent developments. While developers sense high yield, low-risk opportunities, local authorities sense an opportunity to simultaneously meet the demand for new homes while rejuvenating and reinvigorating their economies and communities by introducing this new, dynamic way of living.” Table shows the ratio of UK BTR planning permissions granted and withdrawn during the pandemic, as well as the previous high for approvals (Q2, 2019) BtR planning application status Q2 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Pandemic Change Pandemic Change % Planning permissions granted – full planning consent gained 4,151 4,114 2,575 4,791 5,192 6,937 2,823 69% Withdrawn / refused 2,531 3,786 3,955 3,563 3,896 5,038 1,252 33% Total – estimated 6,682 7,900 6,530 8,354 9,088 11,975 4,075 52% Planning permissions granted – full planning consent gained % 62.1% 52.1% 39.4% 57.3% 57.1% 57.9% 5.9% Withdrawn / refused % 37.9% 47.9% 60.6% 42.7% 42.9% 42.1% -5.9% Data sourced from Gov.uk, Gov.scot, Gov.wales and Infrastructure-NI
Research from Build to Rent specialists, Ascend Properties, has revealed how the sector is poised to gain further momentum due to the number of units currently under construction. Previous research by Ascend found that where pandemic completions across the BTR sector were concerned, London had seen a 28% uplift, while elsewhere across the UK completions were down -33%. However, when analysing sector data on the number of BTR units currently under construction, the opposite is true. The latest data shows that across the UK, 36,054 BTR units are currently in the pipeline, a -1.8% drop year on year. In London, there are 16,227 BTR units currently under construction in 2021, a year on year decline of -8.2%. However, elsewhere across the UK, the number of BTR units currently in the process of delivery has climbed by 4.1% in 2021 when compared to the previous year. Ascend also analysed the Build to Rent pipeline In terms of the sheer value of bricks and mortar it will be bringing to market as a result. In total, the 36,054 UK wide BTR units currently under construction are estimated to add £10.9bn in value to the Build to Rent market. With new build property values higher in London, Ascend estimates those units currently under construction to add an additional £8.1bn in market value. While higher than the rest of the UK, this does equate to a -7.5% drop in the total value of the capital’s BTR pipeline on a year to year basis. In contrast, the BTR pipeline across the rest of the UK is estimated to be worth £5.7bn and while it trails London, this is an impressive 9% uplift on an annual basis. Managing Director of Ascend Properties, Ged McPartlin, commented: “The strength of the build to rent sector goes beyond the number of units being delivered to market and so it’s important that we also consider those currently under construction as an indicator of future sector performance. In this respect, the strength of the sector is pretty evident as despite the uncertainty posed by the pandemic, build to rent construction is down less than two per cent in 2021 when compared to the same time last year just as Covid was taking hold. While London is leading the way in terms of pandemic completions and the overall potential value of the build to rent pipeline, the rest of the UK is steaming ahead in terms of an increase in the number of units under construction and their year on year value growth. So there are positive signs across the board that the build to rent sector continues to build momentum and it’s also important to note that this is based on the Q1 pipeline only, with these figures only likely to grow as the year progresses.” BtR units under construction Location 2020 Q1 2021 Q1 Change 2020 Q1 to 2021 Q1 London 17,672 16,227 -8.2% Regions 19,040 19,827 4.1% Total (UK) 36,712 36,054 -1.8% Data sourced from BPF.org BtR units under construction est total values Location 2020 Q1 2021 Q1 Change 2020 Q1 to 2021 Q1 London £8,765,352,072 £8,112,222,335 -7.5% Regions £5,239,677,609 £5,710,379,764 9.0% Total (UK) £10,606,015,560 £10,922,786,332 3.0% Values based on quarterly new build values and pipeline delivery for each quarter
Research from Build to Rent specialists, Ascend Properties, has revealed which areas of the English rental market have performed the strongest since the 2008/09 recession where the growth in average rental income is concerned. Ascend analysed rental market values during the last property market crash and found that the average rent in England fell from £699 per month in 2008 to £678 in 2009. However, since the end of the recession, rental market values have climbed by 20% to £814 per month during 2020, despite the problems posed to the sector as a result of the pandemic. However, this rental market revival has been far stronger in some regions and none more so than the London market. The average rent across the capital sat at £977 per month in the wake of the last economic downturn. However, today, the average rental income in London has climbed by 68% to £1,638. The South East has seen the second-largest increase in monthly rental values, climbing 39% since 2009, with the West Midlands (25%) and East Midlands (23%) also seeing above-average growth. But even in the North East where this rate of growth is at its lowest, the average rental property is still commanding 10% per month more (£607) when compared to 2009. Yorkshire (11%), the South West (17%), the North West (17%) and East of England (19%) have also seen a considerable increase. Managing Director of Ascend Properties, Ged McPartlin, commented: “It’s fair to say that pandemic uncertainty may have caused hesitation for some when looking to invest within the rental market, particularly in areas such as London where demand has dropped due to the enforced trend of working from home. However, while Covid uncertainty has created a tricky landscape in some respects, we remain a world away from the financial crisis of 2008 and many remain reliant on the rental sector in order to live. It also remains clear, that much like the wider housing market, any periods of instability are relatively short-lived and we’ve seen strong and consistent growth across the board as a result. For the professional investor who may be worried about a potential bump in the road, the build-to-rent space could be the best route to help mitigate any concerns. Not only does the sector provide a higher rental premium to begin with, but the lifestyle offering it provides attracts those with a longer-term view to renting. As a result, residents often rent for far longer terms than the traditional 12 months, providing a more stable stream of income and fewer void periods.” Location Average rent – 2008 Average rent – 2009 Average rent – 2020 Nominal change since pre market crash 2008-09 London £969 £977 £1,638 68% South East £826 £775 £1,078 39% West Midlands region £621 £624 £780 25% East Midlands £589 £556 £685 23% East of England £717 £692 £821 19% North West £581 £564 £662 17% South West £704 £696 £811 17% Yorkshire and the Humber £603 £613 £682 11% North East £560 £552 £607 10% England £699 £678 £814 20%
National Regional Property Group and PMC Construction have completed Southampton’s second Build to Rent (BTR) scheme, and have now handed over the landmark building in the heart of the city to residential landlord, Grainger plc. Grainger plc agreed to forward-fund and acquire the Private Rented Sector (PRS) scheme of 132 one and two bedroom apartments in Southampton’s city centre in 2018, in a deal worth £27 million. The development, known as Gatehouse Apartments, has now been handed over to Grainger plc, the UK’s largest listed residential landlord, who will own and manage the 14-storey building which boasts a range of resident amenity spaces including roof terraces, a gym, communal lounge area, and co-working space, as well as 462 sq ms of commercial space at ground floor level. Grainger Chief Executive Helen Gordon said: “The launch of our Gatehouse Apartments scheme in the centre of Southampton is an important milestone for Grainger. We identified the city for investment owing to its excellent potential and Gatehouse Apartments is one of Southampton’s first build to rent developments. “We believe the high-quality finish and professionally managed service, delivered by the inhouse Grainger team, will attract a range of residents from across the city and beyond. “With Southampton being confirmed as one of the new Freeports and its bid for City of Culture 2025 under consideration, we see Southampton as a key destination for those looking to rent as a lifestyle choice. We look forward to welcoming our first residents in the next few weeks.” This is the second BTR scheme that National Regional Property Group and PMC Construction have completed in Southampton, the first being the £60m transformation of the city’s run-down fruit and veg market into apartments and retail space. Known as Bow Square, this now thriving community comprises 280 one and two-bed apartments for private rent. Shaun Adams, Chief Executive Officer at National Regional Property Group, based in Portsmouth commented: “We’ve been instrumental in bringing build to rent schemes to Southampton and continuing to invest in the ongoing regeneration of parts of the city.” Matt McGee from Cosham-based contractors, PMC Construction, who led the construction of the building, comments: “We were delighted to have the opportunity to work with National Regional Property Group and Grainger plc. As well as providing high-quality housing for the people of Southampton, we were able to provide significant employment for our specialist local supply chain and opportunities for young people to gain experience and qualifications working in construction.” Southampton has recently been tipped by CBRE as one of the top 20 future rental hotspots, due to a variety of factors, such as its strong transport links, excellent employment opportunities and relatively young population. For further details please visit www.gatehouseapartments.co.uk
UK residential and commercial property developer Godwin Developments has submitted proposals for 116 build-to-rent (BTR) homes and flexible commercial space in Ely, Cambridgeshire. The scheme, named Cathedral Green, has been designed to create an ‘urban village’ style community for residents of various ages and will deliver much-needed quality housing for the city and surrounding areas. Located in Angel Drove, at the southern entry point into the city, the development proposes the creation of 57 two- and three-bedroom houses with private gardens, 59 one- and two-bedroom low-rise apartments including balconies, as well as 122 resident and guest parking spaces. Devised specifically for the rental market, the scheme will also incorporate a 1,457sq. m. three-storey commercial building, which will provide additional flexible working space in the area. Designed to offer a modern interpretation of the local architectural character, the Cathedral Green scheme will feature extensively landscaped open spaces intended to host community activities and become places for neighbours to meet and socialise. It will include a woodland walk that will seamlessly link the development to the wildlife site at the rear of the scheme, as well as natural play areas for children, a teens’ retreat and exercise space. At the heart of the development will be a reimagined village green, which will be car-free to support the creation of a safe zone for pedestrians and children. Specific emphasis will also be given to enhancing links between the development and the established local communities nearby. The plans will improve the currently overgrown footpaths as well as maintain existing connections with the Kings Ely School located to the north of the site. In doing so, it will form a natural link between the scheme and the existing woodland, while also promoting safety and accessibility for existing and future residents. Gurdeep Gill, associate director at Godwin Developments, said: “We are delighted to have submitted plans for our latest BTR housing development in Ely, created specifically to cater to rising demand for single-family homes in regional towns and cities. Our proposals seek to deliver a scheme that will fit well into the local area and improve its appeal to a wide range of residents, while also bringing new homes and jobs to Ely. “Aligned with East Cambridge District Council’s Development Plan, the scheme combines modern living with green and flexible working spaces, supporting quality of life and well-being for residents while enhancing the biodiversity of the area and the wider city. “We would like to thank the City of Ely Council and the Ely community for engaging with us constructively throughout the development process and helping us to shape the scheme that has been put forward. We would also like to acknowledge the contribution of our extended team of partners including planning consultants Rapleys, architects RG&P, engineering specialists Jackson Purdue Lever and landscape architects Macfarlane + Associates.” The Cathedral Green development will be located within a 10-minute walk from Ely City Centre and a range of local amenities such as food stores, schools, and a doctor’s surgery. The site is a mere 300 meters away from Ely Train Station, which offers regular trains to Cambridge, London Kings Cross, Stanstead Airport and further afield. It is also positioned for convenient access to the A10 – the main arterial route to Cambridge, Peterborough and London, and is well serviced by a local bus route leading to Ely City Centre and Cambridge. A range of local leisure and interest facilities are also nearby, including Ely Cathedral, Ely Marina, Ely Castle Mount and Cherry Hill Park. James Mulcare, head of residential capital markets at Godwin Developments, said: “Residential investment – and particularly BTR – is a key focus for our business. Our aim is to build the next generation of purpose-built rental accommodation for residents seeking quality homes and superior service. At the same time, we are also catering for the growing demand for long term stable income opportunities from investors. “Cathedral Green, which will be the first BTR scheme in Ely, is a new style of development just for rent, designed to attract a mix of residents, including families, single-person households, couples and independent senior residents – creating a truly multigenerational community. It will cater to a growing requirement for homes in suburban destinations, commuter towns and regional cities, that benefit from proximity to key areas of employment, access to nearby transport, private and public green spaces, amenities and local places of interest. “When complete, the development will be under single institutional ownership and it will be professionally operated and maintained to ensure it remains a welcoming home to its occupants and an asset to the city for many years to come.” Godwin Developments is currently progressing a number of other residential schemes across the country, including the recently announced 23-storey development in Sheffield city centre, ‘The Meridian’, which will see the creation of a 336-apartment BTR scheme, alongside recent planning success for its suburban BTR scheme in Doncaster which will deliver 60 BTR properties, as well as approval for two residential schemes in Nottingham which will provide 102 family homes. For further information on Godwin Developments, visit https://www.godwingroup.co.uk/developments/.
The construction of new apartments in Birmingham is being supported by a funding deal worth £21 million. The new capital has been received by Cedar Invest, who will use the funding to support its project to build 140 new apartments in Digbeth. The five-storey development, named The Forge, consists of a mix of one- and two-bedroom apartments and a 42-space car park and is set for completion by the end of 2020. Providing new homes for more than 226 residents, Cedar Invest said it had already sold 107 of the 140 homes at the site in Bradford Street. “The Forge Digbeth is set to be a transformative development in the city, regenerating a currently underutilised piece of land to provide a range of luxury new homes. By securing backing from Frontier Development Capital and Coutts, we have been able to get spades into the ground – a significant milestone for Cedar but also Birmingham as we contribute to its ongoing growth,” said John Whateley, director at Cedar Invest. The new investment comprises a £17.5 million loan from Coutts and £3.5 million from Frontier Development Capital, with Cedar Invest investing £6 million. The funding has allowed construction to commence at the previously disused ‘Park Works’ brownfield site, supporting more than 300 jobs in the construction phase. “This investment in Cedar Invest will be crucial in allowing the developer to deliver this flagship development, a strong platform from which it can bring forward more schemes across the Midlands and wider UK. The volume and quality of residential development in Birmingham is on the rise, driven by developers like Cedar Invest. We look forward to working with the team as this scheme takes shape and delivers much-needed homes in the city,” added Nick Oakley, head of property investments at Frontier Development Capital. Working alongside Cedar Invest on the regeneraion project are GJL Property Developers and BJD.
