Thursday, April 22, 2021
Real EstateUK

Work set to get underway on new BTR scheme in Wolverhampton

Wolverhampton

The layout has been designed to complement the local heritage and its historical significance

Work is set to get underway in the coming weeks on the construction of a new Build to Rent (BTR) development in Wolverhampton, which will bring 64 one and two-bedroom ‘quality private rental homes’ to the city.

The BTR development, the second in a partnership between Wise Living and Keon Homes, will sit on the former Springfield Brewery yard site on Cambridge Street, vacant until now for the last 25 years.

The beginnings of work on the site come as the BTR market continues to grow, even in the face of Covid-19 and the restrictions brought in to protect against it. More than £10 billion has been invested in the BTR market in the last five years, according to reports, with Birmingham and its surrounding areas earmarked as one of the major growth areas for the next decade.

The layout of the Cambridge Street development and the architecture of the homes have been designed to complement the local heritage of the area and its historical significance.

Wolverhampton is one of the UK’s smaller cities, with a population of around 250,000, but does play host to a near-20,000-strong student population at the University of Wolverhampton.

Birmingham-based architects BM3 supported the design of the above BTR scheme to help bring forward the regeneration plans ‘that tick all the key planning boxes’.

Robert Simonds, business development director at Wise Living, said of the new development: The Build to Rent market continues to show real resilience. In spite of the impact that the current pandemic has had on all lives, high demand for quality private rental properties shows no signs of slowing. In fact, we’ve even seen whole phases of developments reserved online in a matter of weeks. That’s why we are excited for construction on the Cambridge Street site in Wolverhampton to get underway. Once complete, the site will see a total investment of £9.3 million.

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