30 CASE STUDY
Rental gets upwardly mobile in Birmingham
Ground has been broken at 2one2 Broad Street, a 483-apartment for rent scheme in Birmingham. Named ‘The Mercian,’ the mixed-use project is set to become the city’s tallest residential tower, with developer and operator Moda intending to offer a sense of ‘hotel living’ to the rental market.
to offer a ‘hotel-style’ experience through a host of on-site amenities.
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Previously known as 2one2 Broad Street, the 42-storey skyscraper is planned as part of the regeneration of the Broad Street area of Birmingham, and when finished, it will reportedly be the city’s tallest residential building. Developed by Moda, the developer, owner and operator of the building, and backed by JV partner Apache Capital, the scheme is located in walking distance of the city centre and new HS2 terminal. Alongside the development team, locally-
based Glenn Howells Architects are the project’s designers, and Irish construction firm John Sisk & Son has been appointed to build the scheme. With work now underway, completion is
expected in 2022, in conjunction with the Birmingham 2022 Commonwealth Games. As part of this, The Mercian will include multiple health and wellness amenities for its residents.
BREAKING GROUND
Planning was granted for the scheme at 212-223 Broad Street in December 2017, with Moda reporting that the project was approved unanimously by a Birmingham City Council, in 12 minutes. The architect’s initial designs indicate
THE DEVELOPER WANTS TO “REVOLUTIONISE” THE WAY PEOPLE RENT, PROVIDING A “SENSE OF SOCIETY”
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that the tower is intended to complement the surrounding architecture of the ‘Ridge,’ Birmingham’s dedicated tall building zone. Apache Capital Partners secured a £118m debt facility from Goldman Sachs help deliver this vision, with the 4.5-year facility including a 12 month extension option. The 0.77 acre site chosen for the project was derelict brownfield land, once home to the former Click Club at Burberries, a venue which once hosted bands such as Blur and Primal Scream.
The site is also directly opposite Brindleyplace, Argent’s award-winning
he Mercian is a 483-apartment high-rise scheme, designed exclusively for rent, and intended
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