Work set to start on £9.3m build-to-rent scheme
Work to construct a new build-to-rent (BTR) development in Wolverhampton, which will bring 64 one and two-bedroom quality private rental homes to the city, is set to get underway in the coming weeks.
The scheme, which is the second in partnership between Wise Living and Keon Homes, will sit on the former Springfield Brewery yard site on Cambridge Street, which has been vacant for 25 years.
Architects BM3, based in Birmingham, supported the design of the scheme.
Robert Simonds, business development director at Wise Living, said: “The build-to-rent market continues to show real resilience – in spite of the impact that the current pandemic has had on all lives, high demand for quality private rental properties shows no signs of slowing. In fact, we’ve even seen whole phases of developments reserved online in a matter of weeks. That’s why we are excited for construction on the Cambridge Street site in Wolverhampton to get underway. Once complete the site will see a total investment of £9.3m.
“It’s great to be able to bring another high-quality private rental scheme to the West Midlands with Keon Homes. When we first launched our partnership earlier this year with our Coventry development, it was always part of our strategy to deliver further sites together. Our values completely match in terms of our ambition to build quality rental properties that families in the UK demand.”
In January this year, Keon Homes and Wise Living announced they are working together on a 40-unit development in Tile Hill, Coventry. The site will provide one and two-bedroom private rental apartments in the city, with move in dates available before Christmas 2020.
Speaking about the development in Wolverhampton, Warren Bolton, director at Keon Homes, said: “We are delighted to have secured planning permission and completed on contracts with our development partner Wise Living. This is the second time our land-led model has sourced and secured land for our partner. Our Cambridge Street development will provide much needed private rental accommodation which will help enhance a former derelict yard into a scheme the city can be proud of. Our design features, aesthetics and landscaping proposals that are sympathetic to the heritage of the area and complement the surroundings. We look forward to seeing this development evolve.
“May we take this opportunity to thank everyone involved with bringing this scheme to fruition.”
