Former M&S store acquired for landmark BTR scheme
BlueCastle Capital has acquired the former Marks & Spencer store on Birmingham’s High Street for a landmark development.
The build-to-rent (BTR) developer and investment and asset manager is set to deliver a residential-led development, just 250 ft from the future Curzon Street HS2 Station.
It forms part of BlueCastle’s seed portfolio for its UK BTR fund, as well as joining a pipeline of more than 1,500 BTR homes, which also includes Stevenage, Cardiff and Sheffield.
The store was acquired from M&S, after it relocated into a new flagship store in The Bullring.
BlueCastle said the site will serve as a gateway to the city and a key anchor point between Birmingham’s central business district, Digbeth and the Smithfield development area.
Ed Williams, CEO of BlueCastle Capital, commented: “This is a once-in-a-generation opportunity to create a landmark residential development at the heart of one of the UK’s fastest-growing cities.
“Our vision is to deliver an outstanding build-to-rent scheme that sets a new benchmark for quality, sustainability and urban living. Birmingham’s connectivity, culture and momentum make it a key city for our long-term strategy, and the site’s strategic location next to the HS2 terminus makes it a critical piece in the city’s regeneration puzzle”.
