14th December 2021
Specialist lawyers have advised property developers, Xian Developments, on the sale of the Crown Works site in Birmingham to real estate investment manager, Europa Capital.
Xian Developments will develop the seven storey Crown Works building for Europa Capital. The building has been designed to a high specification, comprising 203 build-to-rent homes, a mix of one, two and three bedroom apartments across c. 138,000 sq ft of space.
The scheme will also include 5,900 sq ft of flexible amenity space for a gym, co-working space, private dining and concierge services. There is also a private residents’ roof terrace offering panoramic views of Birmingham’s skyline, private roof terraces for three duplex penthouse apartments, and two ground floor retail units totalling 3,700 sq ft.
Construction is expected to start imminently, with practical completion of the development due to be reached in Q1 2024.
Will Cousins from the Walker Morris Real Estate Group led the Walker Morris team with support from Andrew Maclean (Real Estate), Simon Cuerden and Charlotte Bontoft (Corporate) and Tom Peel and Catherine Thompson (Construction).
Speaking on the deal, Simon Linford, Director at Xian Developments said:
“We engaged Walker Morris based on their great experience in forward funded build-to-rent development deals, and their ability to give coordinated advice on all aspects of the transaction. They worked tirelessly and with great commercial awareness, and we are very grateful for their help.”
Will Cousins added:
“We are delighted to have advised Xian Developments on their latest development in Birmingham. This transaction reinforces our experience of working with market-leading developers to provide first-class build-to-rent developments in strategically important locations.”