Investec Bank has provided a £17m loan to The James for a co-living project in Birmingham city centre.
This project will turn Richmond House, a 67,000 square foot former university building, into Birmingham’s first co-living development with 150 units for postgraduates and young professionals.
Features include a two-storey rooftop extension, communal kitchen and dining areas, a podcast studio, work lounge, gym, games room, cinema, external terrace, socialising area, air source heat pumps, and 166 bike parking spaces.
The James operates 302 apartments across Liverpool, Manchester, and Sheffield and has 406 more in development, including this Birmingham project and a future scheme in Manchester.
Ian Burdett at Investec said: “The appeal of co-living is rapidly expanding across the UK. Having initially gained traction in London, the sector is now increasingly reaching other major regional cities, where housing supply and the ability to get on the housing ladder is a challenge for many.
“Students and young professionals are also increasingly drawn to the sector’s vibrant amenity and community offering.”
Burdett added: “The James’ established track record of delivering high quality schemes across several UK cities made them a natural partner as we look to grow our exposure to the sector.
“We look forward to working with them again as they build out their portfolio further.”
Grant Sulkin, co-founder at The James, said: “We are thrilled to be bringing our product to Birmingham and to be working with Investec on this exciting development.
“The city’s strong demand for high-quality rental housing aligns perfectly with our vision to create vibrant, well-connected communities for young professionals and postgraduate students.
“We look forward to delivering an exceptional living experience at The James Birmingham.”
