A 140-home regeneration scheme in Birmingham was kick-started after Cedar Invest received a £21million funding package to complete the development.
The Forge Digbeth is a five-storey development comprises a mix of one and two-bedroom luxury apartments, and is due for completion in December 2020. Providing new homes for over 226 residents, Cedar Invest has sold 107 of the 140 homes. The development will also feature a landscaped external area and 42-space car park.
The investment, delivered by Frontier Development Capital (FDC) and Coutts, has enabled construction to start at the previously disused 0.86-acre Park Works brownfield site, providing more than 300 jobs in the construction phase.
The £27million package includes a £17.5million loan from Coutts and £3.5million from Frontier Development Capital's Regional and National Debt Funds, with Cedar Invest investing £6million.
Investment fund - National & Regional Debt Fund