Cole and Taurus to deliver £260m Digbeth scheme
Cole Waterhouse and Taurus Investment Holdings have partnered for the second time, to bring forward a £260m Upper Trinity Street development site in Digbeth, Birmingham.
The joint venture follows the purchase of the site by Cole Waterhouse in October 2022, with debt facility provider Ingenious and Auxilium Real Estate acting as debt broker.
The new partnership agreement will focus on the appointment of an investment agent and seek institutional funding partners to deliver the first two phases of the development.
Cole Waterhouse and Taurus Investment Holdings have partnered for the second time, to bring forward a £260m Upper Trinity Street development site in Digbeth, Birmingham.
The joint venture follows the purchase of the site by Cole Waterhouse in October 2022, with debt facility provider Ingenious and Auxilium Real Estate acting as debt broker.
The new partnership agreement will focus on the appointment of an investment agent and seek institutional funding partners to deliver the first two phases of the development.
Under the plan, the 5.2-acre industrial site will be transformed into a mixed-use scheme comprising 943 homes, a 133-bedroom hotel and 60,000 sq ft of commercial space. It is set to become a permanent home for the Pat Benson Boxing Academy, Museum of Youth Culture and Birmingham Music Archive. The project will also include the creation of Pump House Park.
Nick Jacobs, managing director at Taurus UK, said: “[The scheme] allows us to continue our focus on investing equity in development and investments in the UK, despite the difficult economic headwinds that 2022 presented.”
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Image © Cole Waterhouse
