Goodstone Living acquires its first build-to-rent site in Britain’s coolest neighbourhood
Goodstone Living has acquired its first development site for the delivery of its next generation build-to-rent product in central Birmingham, to be known as Camp Hill Gardens. The four-acre consented scheme is expected to accommodate over 500 new build-to-rent homes and the largest private garden in central Birmingham.
Camp Hill Gardens is located in Birmingham’s thriving creative quarter of Digbeth, which has been described by The Sunday Times as Britain’s “coolest” neighbourhood. Goodstone Living plans to transform the site into a thriving rental community – integrating innovation, sustainability, wellbeing and customer service to create a better way to rent.
Camp Hill Gardens’ residents will have access to over 22,000 sq. ft. of high-quality shared amenity space including an onsite gym, co-working areas and rooftop terraces offering unique skyline views over Birmingham. In keeping with Digbeth’s live-work-play ethos, Goodstone Living has designed the site to feature dedicated commercial and retail space, which will be offered at a 50% discount to promote local businesses.
This next generation build-to-rent destination is just a short walk from the Bullring Shopping Centre and Birmingham New Street Station, as well as Birmingham’s HS2 station at Curzon Street. The centrally located site also boasts convenient access to transport connections, with bus, cycle, rail, and metro networks on its doorstep.
The scheme will be sustainably built with a +50% reduction in operational carbon and a +30% reduction in embodied carbon when compared with current building regulations. This much needed new housing development will be arranged around over an acre of private gardens and will be complemented with additional terraces and green spaces, as well as more spacious homes to accommodate the needs of modern renters.
The site has been acquired from Eutopia Homes, a private developer with schemes in Salford and Exeter. The firm obtained a planning consent in March for a mix of residential and commercial uses, designed by award-winning architects Darling Associates.
Martin Bellinger, Principal at Goodstone Living said: "Our strategy is focused on long-term value creation and this requires us to be able to identify significant regeneration opportunities where demographics and cultural shifts are occurring to transform areas in need of new housing.
"As the UK's second largest city by population, Birmingham benefits from a large and growing pool of potential residents demanding high-quality, purpose-built and professionally managed rental accommodation. This makes Birmingham the perfect place for our first development project, and we look forward to transforming Camp Hill Gardens into a vibrant residential community, while also celebrating Digbeth’s rich industrial heritage."
Scott Hammond, founder and CEO at Eutopia Homes, said: “We are delighted that Goodstone Living has backed our vision for Digbeth, a key growth area within Birmingham. Goodstone’s vision will help forge an exciting new community that offers a different type of rental proposition for a fast-growing, young market.
“While we have seen significant investment in the area since we acquired the site in 2018 with Chenavari Investment Managers, we believe that the future regeneration prospects for Digbeth are second to none – a passion shared by the Goodstone team.”
Macquarie Asset Management announced the launch of Goodstone Living in June, with the specialist real estate development and investment management business established to capitalise on a significant market opportunity in the UK’s purpose-built rental housing sector.
About Goodstone Living
Goodstone Living is a specialist real estate developer and investment manager creating a better way to rent.
The full-service platform acquires, develops and operates high quality rental housing in London and key regional cities. The business’ senior management team has over 25 years average experience in the residential sector and extensive residential development and operational expertise.
The business is focused on delivering and operating the next generation of rental housing that integrates innovation, sustainability, wellbeing, and customer experience. Goodstone Living’s ambition is to become the UK’s leading specialist manager of build-to-rent residential communities and is seeking to assemble a best-in-class portfolio by acquiring stabilised assets, developing sites, forward fundings and corporate M&A opportunities.
For further information, please visit Goodstoneliving.com