Real estate investment firm Patrizia Immobilien has won planning permission for its new Edgbaston Residences scheme on land surrounding Birmingham’s iconic Edgbaston Stadium.
The £85m (US$112m) single-property scheme will comprise 375 high-quality apartments and approximately 20,000ft2 (1,860m2) of retail and leisure space on the ground floor. Construction is expected to be completed in 2022.
Neil Snowball, chief executive of Warwickshire County Cricket Club, said, “By delivering new apartments and commercial opportunities for cafes and restaurants, this development project will transform the area around Edgbaston Stadium and make it a destination for people to visit 365 days a year.
“We’re also delighted that the approval of these plans enables the club to benefit from a new entrance plaza, which will provide a much warmer and more impressive welcome to all visitors, while the reconfiguration of the car park and new landscaping will provide greener, contemporary surroundings for the stadium.
“Since the club began its development program of Edgbaston, around 10 years ago, our aim has always been to make it one of the leading venues in the country and a great asset to Birmingham. This latest phase of development will go a long way toward achieving these goals.”
Patrizia acquired the site, adjacent to the stadium and close to the University of Birmingham, Queen Elizabeth Hospital and Birmingham Life Sciences Park, in 2017. Edgbaston Residences is the company’s fourth scheme within its growing build-to-rent (BTR) platform which, in conjunction with a further development in London, will bring 600 new BTR units into operation. The company also operates 600 BTR units across Southampton and Birmingham.