Shoosmiths advises BlueCastle Capital on landmark Birmingham BTR deal

Shoosmiths has supported BlueCastle Capital, the build-to-rent (BTR) developer and investment and asset manager, on its acquisition of the former Marks & Spencer flagship store in Birmingham, paving the way for a major residential-led redevelopment.

The firm advised on all real estate aspects of the transaction, assisting BlueCastle Capital as it advances its BTR strategy. The development will form part of the seed portfolio for the company’s UK BTR fund and a pipeline of more than 1,500 new BTR homes, including developments in Stevenage, Cardiff and Sheffield.

Shoosmiths acted on the deal due diligence and acquisition documentation for the real estate development, investment and asset management firm. Located at 42 High Street, the site sits close to the future Curzon Street HS2 station, with plans now progressing for a scheme that will combine high-quality BTR homes, tenant amenities and sustainability-focused design.

Ed Williams, CEO of BlueCastle Capital, said: 

“It was great to work with Shoosmiths on this once-in-a-generation opportunity to create a landmark residential development at the heart of one of the UK’s fastest-growing cities. Our vision is to deliver an outstanding BTR scheme that sets a new benchmark for quality, sustainability and urban living in Birmingham. The site’s strategic location next to HS2’s terminus makes it a critical piece in the city’s regeneration.”

Real estate partner Liam Phillips led the Shoosmiths deal team, supported by principal associate Ryan Steed and associate Liv Greenhill. Specialist planning advice was provided by legal director Matt Nixon, with legal director Richard Willcox advising on litigation matters.

Liam Phillips, real estate partner at Shoosmiths, added:

“This acquisition represents a key opportunity to breathe new life into a prominent, but currently underutilised, city centre site – delivering much-needed new homes. With its proximity to the future Curzon Street HS2 station, the scheme also supports the area’s wider regeneration.

“Drawing on Shoosmiths’ experience of complex city-centre transactions, our multi-disciplinary team – spanning investment, planning and litigation – worked closely with BlueCastle to navigate the deal successfully, seeding its UK BTR fund and advancing its residential strategy.”