Specialist insurer Pension Insurance Corporation PLC (PIC) and property developer Court Collaboration officially broke ground on the Birmingham based 51-storey One Eastside Build to Rent development.
Conveniently located in the heart of Birmingham, the One Eastside Build to Rent scheme that is being developed by Court Collaboration and funded by the Pension Insurance Corporation (PIC), will comprise 667 new homes.
The development will also feature a top-class co-working space and amenities for residents such as a cinema room, sky lounge and gym.
“We are delighted to have broken ground on our truly ambitious and exciting One Eastside development today, and it’s an honour to welcome the Leader of Birmingham City Council, Ian Ward, to help us celebrate. This project is a reflection of our and our council’s commitment to help drive this city forward, creating wonderful, sustainable new places and spaces, and the homes for the next generation. Thanks also to Pension Insurance Corporation and other guests who have joined us today to mark this special occasion.”Alex Neale, Managing Director, Court Collaboration
A ceremony – which was attended by Birmingham City Council Leader Cllr. Ian Ward – was thrown to celebrate the venture, with directors from both companies in attendance.
They have pledged their commitment to providing high-quality and sustainable Build to Rent schemes in the region, strong ESG credentials, and work experience and placement opportunities for local students and residents.
“With this, our fourth Build to Rent scheme, PIC is firmly establishing itself as a significant and purposeful investor across the UK’s infrastructure and housing footprint. With 667 new apartments being developed here in Birmingham, we will be helping to grow a thriving community while contributing positively to the local economy, including creating hundreds of new job opportunities and supporting the training of local students. The development will provide long-term, secure cashflows underpinning our policyholders’ pension payments for many years to come. We look forward to our continuing partnership with highly experienced developer, Court Collaboration, on this best-in-class scheme and remain actively engaged on a number of similar opportunities across the UK.”Hayley Rees, Managing Director, PIC Capital
The event marks a significant milestone for the exciting project, which the Pension Insurance Corporation (PIC) has forward funded with a £200m investment. It will be one of Birmingham’s first skyscrapers.
“Birmingham is on the up and, at 51 storeys high, One Eastside will symbolise a city that is undergoing a remarkable transformation. This will be one of the region’s tallest habitable structures and huge credit must go to our home-grown SME, Court Collaboration for attracting high calibre investors and partners like PIC to the city. We can be proud that Birmingham is now a city that doesn’t just talk about investment and regeneration – we connect with high quality partners, and we get on with the job.”Ian Ward, Councillor, Birmingham City Council
Court Collaboration is set to complete the One Eastside scheme in 2026.