The two loans provide £4.7m to convert an office building into 15 new apartments in Birmingham city centre, and £7.2m to regenerate a Grade II listed building, alongside a new build block, into 32 new apartments in Birmingham’s Jewellery Quarter. 

In January, Birmingham City Council made clear its commitment to invest £5bn into Birmingham’s housing over the next thirty years to fix the city’s housing issues.

Conversion projects, which make use of existing sites, will be crucial in providing accommodation in line with demand.

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The Jewellery Quarter project is situated above ground-floor commercial space on Constitution Hill, ideally located close to New Street Station and with easy access to the City Centre and Colmore Business District. 

Similarly, the 15 new high-specification apartments within the city centre are located within a short walking distance of both Birmingham New Street Station and Snow Hill Station.

The apartments will be converted from an existing office building.

The financing deal follows on from Atelier’s existing relationship with the developer, having previously financed the bridge loan used to obtain the site. 

Rav Kudhail, lending manager at Atelier, commented: “We are delighted to announce the financing of two exciting conversion projects in Birmingham, situated in prime locations within the City Centre and the Jewellery Quarter.

“We’re looking forward to seeing these existing sites brought back to life to meet the demand for new housing in the city.”