Property Development & Investment

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Nikal Wins 'Deal of the Year' at Insider Midlands Residential Property Awards

Nikal has scooped the coveted 'Deal of the Year' accolade at the prestigious Insider Midlands Residential Property Awards 2017 for its sale of 603 high quality apartments at Exchange Square, Birmingham, to LaSalle Investment Management.

The award was presented to the delighted Nikal/LaSalle team by Chan Kataria, CEO of East Midlands Housing Group, at a glamourous black tie dinner held at the Hilton Metropole in Birmingham last night (8th June).

Buying on behalf of a UK pension fund, the ‘deal’ with LaSalle had a final sales value of £105 million and was ground-breaking, being the first time an institutional fund had entered into a build-to-rent forward fund deal of this scale outside of London.

The transaction also secured Exchange Square’s position as the first significant Private Rental Scheme in Birmingham, making it a catalyst for other PRS development in the city and the jewel-in-the-crown in Birmingham’s ‘Eastside Area of Transformation’.

The development, which is located next to the proposed HS2 Curzon terminal, will see the creation of a dynamic new urban village with LaSalle’s 603 high quality apartments delivered across three blocks of 27, 16 and nine storeys in addition to 27,500 sq ft of ground floor retail and leisure and 186 car parking spaces.

Nikal has over a decade of extensive experience in the Birmingham residential market having already delivered over 340 units at it’s Masshouse development, with substantial off plan sales success.

Designed by twice Sterling Prize-shortlisted architectural practice, Stephenson Studio, the scheme includes a 5,000 sq ft members’ club-style hub that will contain a number of services for residents, including a concierge and access to a private lounge. This will spill out onto an extensive, beautifully landscaped rooftop garden covering over 20,000 sq ft, for the exclusive use of residents.

Contact

Manchester City Centre
Mynshulls House
14 Cateaton Street Manchester
M3 1SQ
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Tel: +44 (0) 161 214 1800
Tel: +44 (0) 161 214 1818
Email: info@nikal.uk.com

Manchester South
20 Market Street
Altrincham
Cheshire
WA14 1PF
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Tel: +44 (0) 161 927 3100
Tel: +44 (0) 161 927 3101
Email: info@myburo.co.uk

Birmingham
12th Floor
McLaren Building
35 Dale End
Birmingham
B4 7LN
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