This marks Heimstaden Bostad’s entry into the British property market.
Soho Wharf will deliver 752 new BTR homes, comprising 650 apartments and 102 townhouses, along with commercial space and affordable homes at discounted rents.
The development will also offer a designed public realm with parks, gardens, shared amenity space, new pedestrian pathways and cycle ways for residents.
It is at the heart of the Greater Icknield Regeneration area to the west of Birmingham city centre and is part of a series of major regeneration projects across Birmingham, including the new HS2 line , the 2022 Commonwealth Games , the expansion of the Midland Metro Tram and enlargement of Birmingham City airport.
Savills and Howard Kennedy acted as advisers to Galliard Homes and Apsley House Capital, while Heimstaden Bostad was advised by Clifford Chance, Arcadis, KPMG and FTI Consulting.
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Soren Vendelbo Jacobsen, co-chief investment officer at Heimstaden Bostad, said: “An entry into the British market is in line with our strategy to expand into strong and attractive European markets.
“By providing high quality yet affordable homes in an up and coming area, we are well positioned to capitalise on the growing rental market in Birmingham and the UK.”
Donagh O’Sullivan, CEO at Galliard Homes, commented: “Birmingham is one of the most exciting, fastest growing cities in the UK and we are proud to be a major part of its success story.
“Galliard’s expertise in regeneration will bring new life to this quarter of the city.”
Gerard Nock, chairman at Apsley House Capital, added: “The Galliard Apsley Partnership is all about creating destinations and fantastic places to live.
“We are delighted to build on our great working relationship with Birmingham City Council and contribute to the ongoing regeneration within the Greater Icknield Masterplan, producing a brand-new Canal Quarter from which the local area will benefit.”
Councillor Ian Ward, leader of Birmingham City Council, stated: “This is an important development that will bring much needed high quality and affordable homes to the city.
“The fact that this is Heimstaden Bostad’s first investment in the UK is a vote of confidence for Birmingham and reinforces our reputation as a great place to do business.
“The council has ambitious plans to grow the city and, with the arrival of the Commonwealth Games next year with HS2 to follow, we can look forward to exciting times ahead as we consolidate Birmingham’s position as the UK’s premier destination for inward investment.”
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