Long Harbour circles Edgbaston BTR

Long Harbour is in discussions to acquire a £100m build-to-rent scheme in Birmingham’s Edgbaston as it ramps up its regional investments. The developer-investor is looking to forward fund the 400-home development at New Garden Square, pending planning consent, in a deal brokered by Birmingham-based Court Collaboration. The acquisition will be dependent on fresh plans in a reserved matters application expected within the next few weeks. Court Collaboration agreed to acquire the development from Calthorpe Estates earlier this year after the duo appointed agents to bring on funders for the £330m scheme. New Garden Square has outline planning for up to 400 homes, alongside 500,000 sq ft of offices, 25,850 sq ft of retail and a 100-bedroom hotel on the 10.7-acre site. The Grade II listed buildings fronting Hagley Road will be retained. The scheme would be the first BTR to come forward in Edgbaston, marking a move for rental outside of the city centre. It will benefit from the metro extension, expected in 2026, with a terminus stop opposite the development. New Garden Square would be Long Harbour’s second BTR development in the city. The 206-home Lansdowne scheme on Broad Street was launched earlier this year. It was developed by Seven Capital and is operated by Long Harbour’s platform Way of Life. It follows the recent £500m fundraise, bringing the total secured finance to £900m. Long Harbour has a portfolio of around 1,900 apartments, largely focussed in the regions. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette