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Edgbaston build-to-rent deal signed

Edgbaston build-to-rent deal signed

A new build-to-rent development is set to be built next to Edgbaston Cricket Ground Birmingham, after the signing of an £85 million deal.

European property developer Patrizia, which is already working on the construction of a mixed-use development in Manchester, has acquired two adjacent plots of land, one owned by Warwickshire County Cricket Club and the other by the Homes and Communities Agency. 

Explaining the choice of location, managing director at Patrizia UK & Ireland James Muir said: "Edgbaston is an established and thriving part of Birmingham, and this particular location has access to the best of the city, including sports, employment, entertainment and dining out."

As well as being a good place to invest in residential property from Patrizia's point of view, the county cricket club regards the venture as the latest step in the transformation of Edgbaston as a sporting and concert venue.

Chief executive of Warwickshire County Cricket Club and Edgbaston Stadium Neil Snowball remarked: "The announcement of this new development is another key stage in our 20-year Edgbaston Stadium Masterplan that started in 2010 with the £32 million investment in the Stadium."


The new apartments and the retail units that will be included in the new block will help make the venue "a 365-days-a-year destination," he added.

New apartments were built in the 2000s next to the ground to help fund the development of the stadium, which now has the highest capacity of any UK cricket ground outside London. 

Like other major cricket grounds in England, Edgbaston has been extensively redeveloped. With new Test match venues being established since the turn of the century in Durham, Cardiff and Southampton, existing venues have had to construct to compete. New stands have also been built at Old Trafford, Trent Bridge, Headingley, Lord's and the Kia Oval.

Lord's recently unveiled plans for new stands at the Nursery End, while funding was found for the new double-sided stand at Headingley, with seats facing one way over the cricket ground and the other across a rugby pitch. 

Image: iStock

 

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