Arm of the BNP Paribas Group and financial service provider BNP Paribas Real Estate has launched a new mixed-use and purpose-built student accommodation (PBSA) development site in Birmingham with a GDV of £50m+.
BNP Paribas Real Estate is marketing the scheme on behalf of Birmingham-based developer and investor Sama Investment Group PLC for offers over £7.525m. Planning for the new PBSA development was recently granted with the potential for an immediate start on site.
“Investing in Birmingham’s city centre and PBSA offers a compelling case to developers and investors looking to secure strong occupancy rates and sustainable rental growth.
“The wider area is undergoing significant development with Pershore Street offering the chance to secure a well located, ‘plug in and play’ development site, with an immediate start on site in an attractive location neighboured by major universities, a rich cultural scene, and supported by excellent transport links.
“The student sector continues to demonstrate its counter-cyclical proposition with the demographic drivers and supply issues continuing to drive activity.
“We are currently seeing high investor demand for PBSA in city centres that contain Russell Group and/or STEM universities and expect extensive investment into PBSA in 2025.”
Andrew Screen, Head of Residential Capital Markets, BNP Paribas Real Estate
The 0.31-acre site is currently vacant. When complete, the scheme will comprise 301 self-contained PBSA units over 15 floors, with communal space and retail units on the ground and first floors.
Located on Pershore Street within Birmingham’s Chinese Quarter, the site is conveniently positioned nearby the largest universities in Birmingham and the city’s attractions and amenities.
Pershore Street benefits from excellent connectivity from Birmingham New Street, Moor Street and Snow Hill stations, which are within walking distance and offer services into Central London.
“We pride ourselves on being specialists in breathing new life into brownfield real estate across Britain’s regions, creating long-lasting value for investors and communities.
“We carefully selected Pershore Street to deliver market-leading returns to our clients and investors alike, and anticipate strong interest given the rarity of the planning permissions granted in that area.
“It offers the opportunity to capture market demand, with the plans for the scheme also supporting and retaining the identity of the surrounding area.”
Bilal Ahmed, Founder and Chairman, Sama Investment Group PLC
