AM ALPHA, a global family office specializing in real estate investments, has successfully acquired the Westminster Works project in Birmingham, a notable development valued at £50 million. This project includes 220 build-to-rent apartments, marking a significant addition to the firm’s investment portfolio.

The Munich-based company, acting for a group of investors represented by a Hamburg pension fund manager, has taken over the development located on Alcester Street in Digbeth. Westminster Works is an ambitious project spanning seven storeys, offering a mix of one and two-bedroom apartments.

Key features of the complex include thermal air conditioning, a photovoltaic system, and environmentally friendly green roofs. Residents will benefit from various amenities, such as a concierge service, 24/7 security, an in-house gym, and smart building technology, enhancing the living experience.

Torsion Construction has been appointed by the new developer, Hadrian Real Estate, to complete the Westminster Works scheme. This decision follows a hiatus in construction after the previous developer, The High Street Group, entered administration two years ago. Metnor Group, the original main contractor, also faced administration earlier this year.

Martin Lemke, Managing Director of AM ALPHA, highlighted the growing attractiveness of Birmingham as a business hub, noting the relocation of blue-chip companies from London to the city. This shift is increasing the demand for residential spaces, particularly in central locations. Lemke observed a rising trend in rental rates for high-quality build-to-rent apartments, especially in well-connected urban areas, indicating a promising outlook for strategic investors.

AM ALPHA’s acquisition of Westminster Works represents a strategic expansion in the dynamic growth regions of the UK, with the firm expressing intentions to continue growing its portfolio in these areas.