£7.3m off-plan success for developer

Midlands property investor and developer BPG has sold all of its Newland House PRS scheme in central Birmingham prior to completion of the works with total sales worth £7.3m.

Located on Hagley Road in Edgbaston, it was purchased by BPG as part of an underperforming office portfolio and has been successfully converted into 41 modern and high spec one/two bed apartments.

BPG director John Southall said: “We are absolutely delighted to have completed construction works at Newland House and sold all of the units off plan.  The sale has realised significant value for BPG.

“We look forward to continuing to deliver our current pipeline – including the completion of a 126 apartment scheme Park Gate Birmingham in early 2020.  With cash to spend and the ability to make quick and decisive decisions on investment purchases, we are always welcoming of any similar new development opportunities.”