– Moda announces 2one2 Broad Street’s new name as The Mercian at official groundbreaking ceremony
– The Mercian will be Birmingham’s tallest residential tower at 42-stories, changing the city’s skyline forever
Today, Moda – developer and operator of homes for rent alongside partner Apache Capital, an institutionally-backed real estate investment business, were joined by main contractor, John Sisk & Son, Councillor Richard Cowell and cultural historian Jez Collins form the Birmingham Music Archive to break ground at the JV’s Broad Street residential development.
The official ceremony also marked the unveiling of a brand new name for the development, The Mercian, in a nod to the region’s rich heritage and history. As Birmingham’s tallest residential tower, The Mercian aims to be a local landmark that knits itself into the fabric of the city as a destination the local population can be proud of.
Before physically breaking ground on the site, all guests were taken on a journey delving into the area’s rich musical background. Guests were shown never-before-seen photos from former nightclub Burberries on Broad Street and its live band nights at The Click Club, which sat on the same site where The Mercian will now stand and hosted bands such as Blur and New Order in the 80’s.
The ceremony follows the recently announced funding agreement between Apache Capital and Goldman Sachs for a £118m debt facility for The Mercian, Goldman Sachs’ first UK build-to-rent development loan.
Designed by Birmingham-based Glenn Howells Architects to be built by Sisk, The Mercian will have 481 apartments exclusively for rent, offering hotel level service and a whole host of on-site amenities including a 24-hour concierge service and smart lifts that register when residents enter the building and are ready and waiting at ground level.
Opening in the same year as the Birmingham 2022 Commonwealth Games, The Mercian will also provide residents with quality health and wellness zones, including a 200m podium open-air running track on the roof – one of the first in the UK’s housing market. Moda also recently announced its commitment to residents’ wellbeing through a partnership with digital wellness platform hero, which will track and improve the health and fitness of residents, provide advice from experts across nutrition, fitness and mental health.
Johnny Caddick, managing director at Moda, said:
“Breaking ground at The Mercian and announcing the new name today is a huge milestone for Moda, particularly in a city as key to us as Birmingham. The people living and working in this city have such strong ambition and determination, it’s growing faster than any other regional UK city and we want to reflect the hard work, the history and tenacity in a building that harnesses Birmingham’s heritage and purpose and combines it with unrivalled forward thinking to bring next generational living.”
Andy Parker, director of projects at Moda, said:
“We’re delighted to get underway with building The Mercian, it’s one of a number of developments currently underway throughout the UK and set to open in the coming years. We put a lot of time into learning about the cities we’re working in and The Mercian in Birmingham is no different, with a focus on fitness and musical heritage that will be implemented in the Moda way, it will push the boundaries of city living.”
Richard Jackson, co-founder and managing director at Apache Capital Partners, said:
“The Mercian will be unlike any other residential apartment building in Birmingham not only in its height but in the level of amenity and service on offer. There’s huge scope for high quality rental housing in Birmingham, Europe’s youngest city that is attracting major corporate occupiers and considerable infrastructure investment. Today’s ground-breaking is major milestone in our journey to creating one of the UK’s largest branded premium build-to-rent portfolios and we can’t wait to see the finished product.”
Guy Fowler, Regional Managing Director at John Sisk & Son, said:
“Today marks the beginning of a significant project for John Sisk & Son and all stakeholders involved. The groundbreaking of The Mercian is a major milestone for Birmingham and we are delighted to be part of shaping the future of the city. We look forward to bringing our extensive residential expertise to this project, working in an open and collaborative manner with all stakeholders on what is a landmark development for both clients and the city of Birmingham.”
The Mercian is due to open in 2022. For further information, visit modaliving.com