Torsion Group secures £50m GDV Birmingham Build-to-Rent scheme
Leading property developer and Contractor Torsion Group has secured Westminster Works, a 220 apartment Build-to-Rent (BTR), £50m GDV (Gross Development Value) scheme in Birmingham.
The Westminster Works scheme fell into administration two years ago when works stopped. Torsion has used its expertise in developing part constructed schemes to work through the challenging requirements of this project.
The delivery arm of Torsion Group, Torsion Construction, has now commenced works on site following seven months of working with developer Hadrian Real Estate. AM Alpha provides funding, and the architects are Glancy Nicholls, with a projected completion date of early 2026.
At seven storeys, Westminster Works on Alcester Street in Digbeth, east Birmingham, is the latest residential development in this once-industrial quarter of the city.
The mix of 1 and 2-bed apartments incorporate high levels of sustainability with the use of MVHR and solar photovoltaic (PV). Green roofs will help biodiversity in this once-industrial quarter of the city as well as mitigate some of the urban heat island effects.
The location makes this a stand-out Build-to-Rent development, being close to the proposed high-speed rail network linking Birmingham and London, as well as New Street station and the city centre. The area around Westminster Works is rapidly shaping up as a desirable base for commuters.
Dan Spencer, CEO at Torsion Group, said: “Westminster Works is the latest in a string of recent large residential projects for Torsion as we respond to ever-growing requirements in this sector. This latest scheme reaffirms our ongoing confidence in the market and continues our growth in the Midlands region.”
Dan added: “We are delighted to be working with Hadrian Real Estate and AM Alpha as principal contractor on this development. We understand that investors need a construction partner that can help them capitalise on the positive trends within the Build-to-Rent sector, and our teams are now focussed on delivering this flagship development in Birmingham.”
Keith McDougall, Hadrian Real Estate, said: “We are expecting high demand for Westminster Works because of its proximity to the city centre and less than 1km from New Street Station. We were impressed with the quality of build and experience we saw on other Torsion schemes we visited.. We are really excited about what this development means for this up and coming area of Birmingham.”
Oliver Gaschler, AM Alpha, said: “We are delighted to fund our first scheme in the UK and Birmingham is a great place to live, work and invest, which eloquently sums up why we chose Westminster Works. The development has been designed with a focus on quality, operational efficiency, and long-term environmental sustainability that meet the needs and aspirations of residents.
Westminster Works will provide high quality homes in the communities where they are needed most, and help supercharge economic activity both in the immediate area and beyond.
Residents at Westminster Works will have access to a wealth of amenities, including a concierge service, 24/7 security, gym and smart technology.