Hungary-based developer Cordia to build nearly 400 more rental apartments in the UK

Hungary-based developer Cordia to build nearly 400 more rental apartments in the UK

Cordia, Hungary’s leading residential property developer is continuing its expansion in the UK residential property market: its local subsidiary is building a complex of 366 rental apartments, bringing the total number of homes planned for the West Midlands region to over 1,800.

Cordia, member of Futureal Group has reached its next milestone in its operations in the United Kingdom: the Birmingham-based Cordia Blackswan, acquired and renamed last year by the company has announced its next major development. Cordia Blackswan is building a complex of 366 rental apartments in Birmingham’s Digbeth district, on a site of nearly 8,000 sq m.

Digbeth is a regeneration area in the centre of the UK’s second largest city, with a strong industrial heritage. This area is now recognised as a vibrant cultural, creative and diverse neighbourhood, a kind of bohemian quarter. Cordia Blackswan’s new development will feature a combination of 1, 2 and 3 bedroom units, in two ‘u’-shaped blocks of five and eight storeys, set around landscaped public realm. Residents will benefit from shared amenities, including a resident’s lounge and concierge service, with high quality private outdoor spaces including courtyards and balconies.

This project is not the first residential rental development of Cordia Blackswan, as the company has a number of developments in Birmingham’s historic Jewellery Quarter, which is still home to one of Europe’s largest jewellery manufacturing communities. These include The Lamp Works, a 148-home build-to-rent apartment scheme, while Bradford Works will be the city’s first purpose built shared living scheme for young professionals, with access to high-quality communal areas and shared amenities. Although The Gothic is not a rental housing development, but is also located in the same neighbourhood: the buildings that were built in the early 19th century will be converted into Victorian-style homes with carefully restored heritage features. This development is named after the pub that welcomed visitors from 1870 until the early 2000s.

Beyond its Jewellery Quarter placemaking agenda, the company is keen to support Birmingham’s growth and development more broadly and this latest acquisition in Digbeth signals the next step in Cordia Blackswan’s journey of ambitious growth.

Together with the development just announced, Cordia Blackswan has a pipeline comprising over 1,800 homes, as well as 33,500 sq m space for commercial uses across the West Midlands and is actively looking for new sites across the region.

Hungary-based developer Cordia to build nearly 400 more rental apartments in the UK
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Hungary-based developer Cordia to build nearly 400 more rental apartments in the UK
BDC October 2022 issue - 297

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