_Knight Frank brokers Birmingham’s latest residential investment deal

A UK based confidential purchaser acquired the property, which comprises 41 studio, one- and two-bedroom apartments, arranged over five floors totalling approx. 23,000 sq ft of net saleable area.

Completed in August 2019, the property was developed by BPG under office to residential permitted development rights. 

The purchaser will block manage Newland House, retaining it as a form of long-term residential income generation. 

John Southall at BPG said: “BPG has a number of other developments both on site and in planning so it suited the group to sell the entire block to one purchaser, we were pleased with both the speed of the transaction and the end result of the development ”

Hannah Badger, Associate in the Residential Capital Markets team at Knight Frank, said: “This latest deal demonstrates the continued strength of the investment market in Birmingham and the robust appetite from investors for high quality, professionally-managed rental stock.

Birmingham boasts the UK’s largest professional, financial and business services hub outside of London, and its property market remains popular with investors looking to maximise on the city’s continued record levels of growth.” 

Knight Frank acted for BPG. 

For further information, please contact: 

Freddy Fontannaz and Hannah Morris, Residential Development PR.