AM Alpha, a Munich-based global family office for real estate investments, has purchased the Westminster Works project development in Birmingham, comprising 220 build-to-rent flats upon completion.
Construction work has already begun, and its completion is scheduled for early 2026. AM Alpha acted on behalf of several investors who are represented by a pension fund manager from Hamburg.
The parties have agreed not to disclose the purchase price.
The mix of 1-bed and 2-bed flats at Westminster Works is characterised by a high degree of sustainability, as the entire complex is equipped with thermal air conditioning and a photovoltaic system. Green roofs will promote biodiversity in this formerly industrial district of the city. Residents of Westminster Works will have access to a wealth of amenities, including a concierge service, 24/7 security, a gym and smart building technology.
The seven-storey “Westminster Works” building is on Alcester Street in the Digbeth district. It benefits above all from its location: firstly, it is close to the city centre, and secondly, the area is connected to the planned “High Speed 2” train line via New Street station.
“This will reduce the journey time between Birmingham and London to under an hour,” explains Martin Lemke, Managing Director of AM Alpha. “The first blue chip companies from London have already relocated to Birmingham. This influx of companies will further increase the already high demand for residential space.”
”In particular, rental housing will be in greater demand in the future. This is because the new interest rate environment makes it increasingly difficult to buy residential property, especially in the UK, with its traditionally high ownership rate. The result is increased pressure on the rental market, as more and more people are deciding against buying a property due to the high costs,” said the companyin a statement.
“This shift means that more and more people are opting for rental flats in city centres. We are already seeing a rise in rents for high-quality build-to-rent flats – especially in well-connected urban areas,” says Martin Lemke. “For strategic investors, investments in build-to-rent buildings offer enormous growth potential. We will continue to expand our portfolio in the dynamic growth regions of the UK.”
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