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PATRIZIA plans £85M build-to-rent project in UK

Germany's PATRIZIA Immobilien AG is planning an £85 million development project in Birmingham, U.K., comprising 375 build-to-rent homes across four acres of land, Property Investor Europe reported.

Located next to Edgbaston Stadium, the project will also include a retail component. The site will be spread across two land plots that the company is acquiring from Warwickshire County Cricket Club and the Homes and Communities Agency, the Aug. 7 report added, citing a company release.

The project is subject to planning and local consents, the report noted.