Lupa Land and Urban High Developments have completed the acquisition of the Kent Street Baths site in Birmingham from The Gooch Estate, paving the way for a 406-unit private rental sector (PRS) development.
The pair acquired the site in the Southside district through their joint venture company KSB Birmingham.
The site as a whole covers 2.25 acres and can accommodate 504 units, but KSB simultaneously onward sold one plot to High Street Residential which is planning a 98 unit development for private sale.
Lupa intends to develop a 406 unit scheme for the PRS sector, including a public courtyard, retail space and a private residents’ hub. The development will offer a mix of studio to three bedroom apartments in five principal buildings ranging from six to 18 storeys.
Final planning permission was granted in June 2018, and Lupa said it expected to complete on a forward funding deal and construction contract by the end of August.
Completed for Commonwealth Games 2022
The site is expected to be completed in time for the Commonwealth Games in Birmingham in 2022.
Neal Watkins, director of Lupa Land, said: “The Kent Street Baths site will offer an exciting premium residential development that promises to build a thriving new community in the heart of the city. We are delighted to be a part of the continued redevelopment of Birmingham’s city centre bringing high quality, contemporary living space and facilities.
“We are already progressing well with the funding and construction agreements for the 406 units located in plot 1, which we hope to have in place by the end of this month.”
Charles Gillett from Gooch Estates added: “We are delighted to complete this sale with KSB and with the progress being made on Kent Street Baths. We were impressed with Lupa’s vision for creating a community hub through professionally managed, rental-led developments with a distinct look. This is exactly aligned with the Gooch Estates’ strategy of offering highly attractive properties and homes in the thriving Southside area of Birmingham.”
Lupa Land was previously known as Camborne Land Investments.