Cole Waterhouse and Taurus get £60m backing for Birmingham BTR homes

Cole Waterhouse and Taurus Investment have agreed a £60m joint venture with Housing Growth Partnership and BGO to bring forward the first phase of their Upper Trinity Street residential development in Digbeth, Birmingham. Designed by Corstorphine & Wright, Upper Trinity Street is a £260m mixed-use scheme which will deliver at least 943 homes and a new public park for Birmingham. The first phase for the scheme comprises three blocks which will provide 211 build-to-rent homes. Caddick has been appointed as main contractor, with practical completion expected in spring 2027. Cole bought the 5.2-acre development site in October 2022, with debt facility provider Ingenious and Auxilium Real Estate acting as debt broker. Cole Waterhouse partnered with Taurus in January 2023 to seek institutional funding partners to deliver the first two phases of the scheme.  John McKeon, investment director at HGP, said: “We are partnering with Cole Waterhouse and Taurus in helping to bring forward this development which will help meet an unmet demand for housing in Digbeth and create a vibrant local community.” Image © Cole Waterhouse