Midlands developer seeks funding partner for £112m Birmingham BTR scheme

Midlands-based developer and investor BPG is looking to sell its 450-flat Oasis development in Birmingham city centre for £112.5m. It has appointed Knight Frank to dispose of the opportunity via a forward funding deal. The 456-flat, 11-storey scheme, close to the new Smithfield Market Quarter, comprises 178 one-bedroom apartments, 268 two-bedroom apartments and 10 duplexes. The scheme also offers two commercial units on the upper ground floor, spanning 5,207 sq ft. The site is currently being demolished to pave the way for the development work to commence. Hannah Badger, a partner in the residential investments team at Knight Frank, said: “Birmingham Southside is currently undergoing a huge amount of exciting regeneration and redevelopment, which is totally transforming this part of the city centre. “Oasis will deliver an additional 456 purpose-built and professionally managed rental homes for Birmingham, which are highly sought after yet significantly undersupplied, especially in the city centre.”  Knight Frank has been advising BPG for more than 20 years on projects in Birmingham and around the West Midlands. To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews Image courtesy of Knight Frank