Fortwell agrees £31m for High Street Group Birmingham resi

Fortwell Capital has completed a £31.1m development loan to The High Street Group for the construction of Westminster Works in central Birmingham. The scheme comprises 220 homes for private sale on the edge of the Southern Gateway regeneration zone in Digbeth, walking distance from the proposed HS2 station at Curzon Street. Planning permission is in place and completion of the eight-storey scheme is expected in Q2 2021. Arthur Jennings, managing director at Fortwell Capital, said: “Birmingham is an established investment destination, and Westminster Works will capitalise on the growing demand for high-quality residential space in the city.” Gary Forrest, chairman of The High Street Group, said: “Located close to the proposed HS2 terminus, Westminster Works will be a unique and aspirational new development for Birmingham.” It is the second major facility written by Fortwell Capital in the past two weeks, following the £55m loan for No 1 Old Trafford, a 354-home Manchester private sale scheme. At the end of 2018 Fortwell received a £400m capital injection from Cain International, which it intends to deploy on larger, more complex opportunities across a broad range of asset classes in regional centres. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette