Cording secures fourth site for €478m U.K. private rented sector fund

Cording Real Estate Group, a member of the Edmond de Rothschild Real Estate investment management platform, has secured the fourth site for its £400 million (€478 million/$665 million) Cording U.K. Residential Investment Fund, which invests in the private rented sector (PRS) on behalf of Continental European investors. 

The fund has agreed to forward fund a build-to-rent development by High Street Residential on part of the site of the former Kent Street Baths in the center of Birmingham for £49.7 million (€59.4 million/$66.3 million). Located on a 2.2-acre site bounded by Bromsgrove Street, Gooch Street North, Kent Street and Henstead Street, the development will provide retail space, a cafe, gym and a residents’ hub along with a minimum of 262 mainly one- and two-bedroom apartments for rent, which may increase to 279 units, subject to planning consent for the additional 17.