Work has started on site to deliver a £28 million build-to-rent scheme which will create 156 new homes in Birmingham’s Jewellery Quarter.
The beginning of construction work on the site in Great Hampton Street follows a deal which saw the UK’s largest listed residential landlord, Grainger, agree to forward fund and acquire the private rented sector (PRS) development, known as Gilder’s Yard, from Blackswan.
Planning permission was awarded earlier this year to develop the industrial site into 156 high quality one and two-bedroom apartments, with 47 parking spaces, 28 cycle spaces, and commercial units.
Blackswan will develop the site and Midlands-based construction group Shaylor has been appointed as contractor.
The development will involve demolishing some of the existing buildings and the renovation of the three-storey Grade II listed former jewellery factory at 16-18 Great Hampton Street, which was once home to J Ashford & Son.
Blackswan managing director Marcus Hawley said: “It’s wonderful to see work finally begin at Gilder’s Yard, an exciting and attractive scheme which will give this part of the Jewellery Quarter a huge lift. Great Hampton Street is full of character and we hope Gilder’s Yard will act as a catalyst that brings this important street back to life.
“Gilder’s Yard, and the other potential developments we are currently exploring, will improve the Jewellery Quarter, offer high quality new homes, and make the area even more vibrant than it is now.”