Select Property secured a €52m development finance from Close Brothers for its first Affinity Living build-to-rent development in Birmingham. The new 266-unit property, Affinity Living Lancaster Wharf, sold out to investors for €90m.
The development will be completed in Q3 2025 and is located in Birmingham's city centre, close to Snow Hill Station and Colmore Row.
Adam Price, CEO at Select Property, said: “We are very proud of the Affinity Living experience that we have created and developed in Manchester city centre. Given its success, we knew it was the right time to bring our proposition to new markets and Birmingham was the perfect place to do so given the continued growth of its young professional population. Our new property at Lancaster Wharf will provide best-in-class rental homes in an unrivalled location with the community at its heart, so we have no doubt that resident demand will mirror the demand we have seen from investors for this development. Close Brothers has been an invaluable partner to us in this project, working quickly to provide us with the support we need to see the development through to completion.”
Simon Powell, Director at Close Brothers, added: “We have worked with Select Property for many years and have forged a strong relationship with their highly experienced team, and are delighted to be supporting them on yet another fantastic scheme. Situated within an area of major regeneration, Lancaster Wharf will provide much-needed, high-quality apartments for the rental market that will complement the ongoing improvements in the wider area. We have supported housebuilders and developers for over 40 years and look forward to continuing to do so over the coming years with experienced partners like Select Property.”
