BNP Paribas Real Estate, part of the BNP Paribas Group, a global leader in financial services, today announced that it has launched a Birmingham mixed-use development site with a GDV of £50m+ to market on behalf of Sama Investment Group PLC, a Birmingham-based developer and investor, for offers in excess of £7.525m.
The development site located on Pershore Street, within Birmingham city centre, within its Chinese Quarter, comprises an 0.31 acres (0.13 hectares) vacant plot and comes with newly granted planning consent for 301 self-contained PBSA units over 15 floors, with communal space and retail units on the ground and first floors. The opportunity is conveniently positioned in close proximity to the majority of the largest universities in Birmingham and has the potential for an immediate start on site.
Andrew Screen, Head of Residential Capital Markets at BNP Paribas Real Estate commented: “Investing in Birmingham’s city centre and PBSA offers a compelling case to developers and investors looking to secure strong occupancy rates and sustainable rental growth. The wider area is undergoing significant development with Pershore Street offering the chance to secure a well located, “plug in and play” development site, with an immediate start on site in an attractive location neighboured by major universities, a rich cultural scene, and supported by excellent transport links.
“The student sector continues to demonstrate its counter-cyclical proposition with the demographic drivers and supply issues continuing to drive activity. We are currently seeing high investor demand for PBSA in city centres that contain Russell Group and/or STEM universities and expect extensive investment into PBSA in 2025.”
Bilal Ahmed, Founder and Chairman of Sama Investment Group PLC, commented: “We pride ourselves on being specialists in breathing new life into brownfield real estate across Britain’s regions, creating long-lasting value for investors and communities. We carefully selected Pershore Street to deliver market-leading returns to our clients and investors alike, and anticipate strong interest given the rarity of the planning permissions granted in that area. It offers the opportunity to capture market demand, with the plans for the scheme also supporting and retaining the identity of the surrounding area."
The Pershore Street benefits from a number of railway stations including Birmingham New Street station, Moor Street and Snow Hill which are within walking distance and offer services into Central London.
