Developer expects completions worth £221m as construction pipeline grows
Prosperity Group, the Birmingham-based residential developer and investor, has announced expected development completions worth £221.4m in 2023.
The figures represent a historic performance from the Jewellery Quarter-based business, and a 28% increase on 2022.
In Birmingham alone, the group expects to complete the delivery of JQ Rise in the Jewellery Quarter and Park View in Eastside.
Together, the development schemes represent a combined value of £121.4m and the delivery of 342 homes.
Across the UK, the company boasts a pipeline worth approximately £100m.
This includes residential developments in Nottingham, Sheffield, Chesterfield, and Norfolk.
In total, Prosperity Group is set to deliver around 850 new homes in 2023.
The company has a longer-term pipeline of over 1,000 homes, including Pressworks, a proposed 711-home development in Digbeth, which is currently awaiting planning consent. Prosperity Group has also announced plans to launch a new social housing provider – Prosperity Vita – which could deliver up to 500 new affordable homes across the UK.
Joe Billingham, chief executive at Prosperity Group, said: “Prosperity Group has gone from strength to strength over the last few years and 2023 is the culmination of that growth.
“Whilst our pipeline across the UK is exciting, we have been focused on accelerating our work within the West Midlands. We are keen to keep playing our role in the prosperity of the region by attracting investment and delivering new homes on brownfield sites.
“Although 2023 is lining up to be an exceptional year, we are still focussed on our future and the delivery of our strong pipeline, with a vision and approach set up to support long-term growth.
