Apache Capital has expanded its build-to-rent (BTR) joint venture (JV) with Harrison Street, and NFU Mutual, to fund Moda Living’s Great Charles Street, a 722-home BTR development in Birmingham.
Moda will develop, manage, and operate the £302m (GDV) Great Charles Street, which is set to begin phased delivery in October 2025 and will prioritize leading ESG certifications.
Paul Bashir, Chief Executive Officer of Harrison Street’s European business, said: “We’re thrilled to expand our partnership with Apache, a leading investor in the premium UK build-to-rent space and Moda, a leading developer in the UK and pioneer in the build-to-rent sector, to bring this development to Birmingham. The Birmingham market is backed by strong demographics, with the greatest concentration of businesses outside of London and home to some leading universities. This transaction underscores our continued efforts to invest in premium BTR assets in leading markets across Europe.”
The development is one of the largest regeneration projects in Birmingham City Centre and within walking distance to key leisure destinations. Once completed, it will offer 722 homes for rent, ranging from studios to three-bedroom apartments.
Residents will benefit from a range of luxury finishes and amenities, including a rooftop terrace and BBQ areas, gym with personal training and classes, bicycle storage, washing and repair station, residents’ lounges, private dining, cinema room, meeting rooms and co-working space and secure parking, as well as a 24-hour concierge and onsite security.
Ian Ward, Leader, Birmingham City Council, said: “This is a hugely exciting project, breathing life and community back into a key central site which has been unused for more than 50 years. Moda’s development at Great Charles Street will deliver much-needed new homes to Birmingham and will be central to the ongoing transformation of the city centre. I look forward to working with Moda, Harrison Street, NFU Mutual and Apache Capital as they deliver this exciting new chapter for the Jewellery Quarter.”
New public realm and green spaces at ground level will provide new walking and pedestrian routes, as well as community facilities, including retail and leisure units.
The JV, which was formed in 2018 to fund premium BTR developments across the UK, now includes six assets, representing a total of 3,050 homes.
