Spitfire Bespoke Homes has secured £53 million of funding from Legal & General (L&G) for the 220-unit Build to Rent (BTR) site known as Newhall Square.
As well as new residential units, the site has planning for 7,500 sq ft of ground floor commercial space, together with a public square and 61 car parking spaces.
The forward funding deal brings L&G's total pipeline of BTR units across the UK to over 1,700.
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David Jervis, Managing Director of Spitfire Bespoke Homes, said: "As a specialist developer with a reputation for creating unique homes featuring great design and unrivalled attention to detail, we are excited to be working with L&G to bring our expertise and high standards to the BTR sector."
Dan Batterton, BTR Fund Manager at LGIM Real Assets, added: "This development, in a highly sort after area of Birmingham, links the industrial heritage of the Jewellery Quarter with the modern business district.
"Given the huge infrastructure investment in Birmingham, it has been a target location for us in building a high-quality and well diversified portfolio of BTR schemes. We expect to continue adding schemes and new locations over the coming months."
(LM/MH)
