Court Collaboration has agreed to a £200million forward funding partnership with Pension Insurance Corporation (PIC) to deliver One Eastside, the Midlands’ first skyscraper.
Approved in April 2021, One Eastside features a 51-storey skyscraper measuring over 154 metres and the development will see 667 build-to-rent apartments in close proximity to the new HS2 Curzon Street station. The scheme comprises two buildings, with residential gardens and courtyard spaces, as well as a gym, a cinema, and a residents’ sky lounge on the 51st floor boasting stunning views across the city.
One Eastside will create over 300 new jobs, and there are also plans for the creation of a student academy to provide an opportunity for hundreds of local students, including work placements and on-site course opportunities and experiences.
Anthony McCourt, CEO of Court Collaboration, said: “This £200million investment by Pension Insurance Corporation confirms that confidence in the BTR sector continues to grow in Birmingham. One Eastside will see Court Collaboration leading the way in the West Midlands BTR market with this landmark development being the jewel in the crown of the city’s BTR offering.”
“This deal is another huge vote of confidence both in Court and in the city of Birmingham, which is riding high on the back of the ‘Be Bold’ achievement of the Commonwealth Games, proving that an SME like Court Collaboration, ably helped by financial partners such as Sir Tony Gallagher, can take on big challenges and deliver. Birmingham moving forward can’t and won’t be stopped and the project team deserve real credit. They have realised this ambition and Court hopes this is the start of a wave of skyscraper living in our brilliant city.”
MGAC | RLF advised on project management, cost management, and health and safety services for the development.
Chris Barker, executive director of MGAC | RLF, commented: “The team have worked tremendously hard to help develop a viable project which will positively impact the Birmingham skyline. Myself, Matt Gannon, Rob Kay, Gareth Welch, and Paul Miller are thrilled to have been involved with Court Collaboration and the wider project team to bring this development through to construction. We are all truly excited about delivering what will be a landmark building for the city of Birmingham.”
Birmingham city council leader, Cllr. Ian Ward, added: “I’ve said for some time now that this is a golden decade of opportunity for Birmingham and this agreement is the latest major boost to our growing reputation as a city that is, quite literally, on the up. At 51 storeys high, this will be the region’s tallest habitable structure and huge credit must go to our home-grown SME, Court Collaboration for attracting high-calibre investors and partners like PIC and Sir Tony Gallagher to the city. Birmingham is a bold and exciting international city and I look forward to seeing this exciting project take its place on our constantly evolving skyline.”
A 46-month build programme is set to start on-site in November and the contractor will be announced imminently.
