Embankment, located in Birmingham city centre, is Birmingham City Council’s first build-to-rent development and is Pinnacle Places’ second build-to-rent project after the success of Newton Mearns in Scotland.
Pinnacle Places will deliver letting, management and maintenance services to the development, which consists of 92 one and two-bedroom apartments.
Pinnacle Places Director Jim Wilson said:
“We are delighted to have won such an important contract from Birmingham City Council, and we much look forward to working with the Council to deliver this scheme,” he said.
“Councils across the country are increasingly looking at Build-to-Rent solutions to help meet the needs of their residents so we are thrilled to be able to continue our work in this space, as it is very much the direction of travel for the PRS part of our business.
“There are a lot of opportunities in Birmingham for both Pinnacle Places and all parts of Pinnacle Group, so we are very excited to have the opportunity to get involved in Birmingham at an early stage.”
The project will be managed by Pinnacle Places’ Head of PRS Operations, Kelly Smith, from now until the end of the letting process, which is expected to begin in March 2018.