New owner for Silver Blades development site

THE Silver Blades site in Birmingham city centre has a new owner after a joint venture bought the development.

Rockspring, which is also behind the major development at 103 Colmore Row, and Atlas Residential have teamed up on the £50m private residential scheme.

One of the two sellers, LinkCity, will act as the developer and delivery partner through a related company, Thomas Vale Construction.

The development, which is known as The Beacon, is already under construction. It will have 334 apartments over 11 floors when complete, which is expected to be in early 2018.

Rockspring has made the investment because of the number of businesses that are – and, it hopes, will – move large numbers of people to the city.

Hugh Elrington, Rockspring partner and head of UK transactions, said: “This is an exciting time for Birmingham where we see a lot of potential emanating from socio-economic trends in the UK, with a number of high profile companies across a range of sectors, including the professional and financial services sectors, moving significant parts of their operations there. Through this acquisition we are responding to, and indeed anticipating, this significant future growth trend.”

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