Acting on behalf of G3S Living Ltd, global property consultancy Knight Frank has been appointed to source a funding partner to help deliver 52 Degrees North, a landmark new Build to Rent development in Coventry, West Midlands. Knight Frank is guiding £36m for the opportunity.
“This is an excellent opportunity to invest in Coventry’s first purpose-built Build to Rent scheme. The city is located in one of the UK’s fastest growing regional economies, and Coventry itself is undergoing a huge transformation thanks to continued public and private investment in major regeneration and infrastructure projects. As a result, investment opportunities in Coventry are highly sought-after, and we’re confident investor interest will be very strong from the outset.”Jonny Stevenson, Head of Build to Rent, Knight Frank
Once completed, 52 Degrees North will be an iconic Build to Rent development located in Coventry city centre. The scheme will comprise 180 new homes – a mix of studio, one and two bedroom units. Onsite amenities include a gym, cinema, workspaces and two outdoor terraces located on the 16th and 18th floors. The scheme will also provide dedicated residents car parking spaces which have been allocated in the adjacent multi-storey carpark.
“G3S Living Ltd are very excited to offer our 52 Degrees North project to the funding market. Our experienced development and consultant design team have set out proposals for the construction of an exciting living environment in the heart of this rapidly developing city.
“The site’s excellent location will enable residents to benefit from both the vibrant city centre, and the amenities of the wider Earlsdon urban village area, whilst addressing the significant under-supply of homes in the city centre area. Further, with such close proximity to Coventry’s new train station, this project is set to provide a highly attractive living environment with first class connections to London and the wider midlands area”.Ben Flippance, Director, G3S Living Ltd
52 Degrees North benefits from excellent connectivity and transport links. Its central Coventry location means the scheme is a seven minute walk from the city’s main leisure and retail district, and a ten minute walk from Coventry train station and the £100m Friargate business district.
“Coventry is a place of heritage and culture, and, being one of the most centrally-located cities within England, benefits from exceptional transport links and job opportunities. Regularly cited as one of the best cities in the UK in which to live, work and do business, the demand for high-quality rental housing in Coventry has increased dramatically in recent years. As the first purpose-built Build to Rent scheme in Coventry, we expect significant interest from investors, and strong demand from potential residents upon completion.”Will Jordan, a Partner in the Birmingham Residential Land team