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Berkeley Group to Develop Student Housing

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Luxury London housebuilder Berkeley Group is looking to invest outside of the capital as its market for high-end properties in London undergoes a downturn.

The company has established a new division in Birmingham, representing the company's first venture outside of London and the South-east in more than a decade.

According to chief executive Rob Perrins: "Birmingham is on the rise, with a can-do council that seems keen to encourage development. We want to bring a distinctive approach to the local market."

Mr Perrins indicated the new division would develop family housing, affordable homes, luxury homes and student accommodation, pulling on their expertise in large-scale regeneration.

It will be headed by Angus Michie, chairman of the group's St Edward business, a joint venture with the Prudential insurance company that focuses on high-end luxury homes, including a flagship development on the Strand in central London.

Analysts suggest Berkeley Group have identified the West Midlands as an area that fits their current product mix and where the demographics are similar to areas they know and understand.