Property developer and contractor Torsion Group has secured Westminster Works, a 220 apartment Build-to-Rent (BTR), £50 million GDV (Gross Development Value) scheme in Birmingham.
The Westminster Works scheme fell into administration two years ago when works stopped and now the Group’s delivery arm, Torsion Construction, has commenced works on site following seven months of working with developer Hadrian Real Estate.
The mix of one and two-bed apartments incorporate high levels of sustainability partially with the use of solar photovoltaic (PV) technology and with green roofs also being installed.
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.
“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 of Hadrian Real Estate added: “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, which is providing funding for the project, said: “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.”
