Tony Gallagher to bring £350m resi scheme to Birmingham

Midlands property tycoon Tony Gallagher has linked up with Birmingham city centre developer Court Collaboration to develop a £350m build-to-rent scheme in Digbeth. The duo have worked up plans for a 928-home development branded Stone Yard at the 3.4-acre Bullring Trading Estates. Gallagher Estates acquired the city centre site in October 2017, paying £6.5m to acquire the site from A&J Mucklow, in a transaction brokered by Court Collaboration. The Birmingham-based developer has submitted a planning application for the development, proposing seven towers of between six to 30 storeys. Development will also comprise 8,000 sq ft of internal amenity space, 10,700 sq ft of flexible commercial space, two private courtyards and public open space. The amenity space has yet to be defined, but is likely to comprise lounges, co-working, dining or cinema space for residents. In 2017 Gallagher sold his 828-acre Midlands estate to L&Q for an enterprise value of £505m. The deal boosted L&Q’s portfolio by some 45,000 housing plots. Meanwhile, Gallagher has been quiet since the sale. Court Collaboration was founded in 2011 by former Wragge & Co real estate lawyer Anthony McCourt. The residential development company has a portfolio of £1bn across some 15 sites, including One Eastside next to the HS2 Curzon Street Station, which was previously set to be Birmingham’s largest build-to-rent development, and is to be forward funded by Greystar as its first scheme in the city. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette