VISUALS: Hungarian real estate developer Futureal to build Birmingham’s first purpose-built shared living environment

Cordia UK, a member of Futureal Group, one of Europe’s largest property development companies, has announced planning approval of a first-of-its-kind shared living scheme in Birmingham.

The landmark development will create the city’s first purpose-built shared living environment. Reimagining the HMO concept, Bradford Works will offer 54 self-contained en-suite studio units with well separated, generously sized living and sleeping areas. Boasting the feel of a junior hotel suite, residents will be able to retreat from the various shared amenities and enjoy real privacy.

Photo: Press release/Futureal

State-of-the-art communal areas will include modern lounges, professional grade kitchens, dining areas, workspaces, a multi-purpose fitness studio, and a landscaped roof terrace, designed to encourage sharing and collaboration between residents, creating a community of likeminded people with sociability and wellbeing at the core.

Sitting at the corner of Barr Street and Harford Street, the project will see the refurbishment of an existing Jewellery Quarter building, with a focus on maintaining and enhancing the heritage of the local area. Bradford Works will place sustainability at the core, as a 100% A-rated energy-efficient development.

Photo: Press release/Futureal

The project has been designed specifically for Birmingham’s growing population of young professionals, post-graduate students, and freelancers, with research by Cordia UK showing that this target demographic represents around 800,000 people in the Midlands alone.

Furthermore, the research found that in 2022, 22.6% of Birmingham’s households were privately rented, with this figure predicted to rise to 26% over the next five years. In the city centre, 56% of households are privately rented, and this is forecasted to rise to 63%.

Photo: Press release/Futureal

Of the 56,000 people that moved to Birmingham internationally or from other local authorities in the UK in 2023, 18,000 relocated from London and other major cities – demonstrating the increasing demand for rental accommodation.

All of the units in Bradford Works will be affordable homes, in line with the West Midlands Combined Authority’s income linked definition of affordability.

Andras Kárpáti, CEO of Cordia UK, said: “We are delighted to have received planning approval for Bradford Works. The first of its kind in Birmingham, the development will provide much needed housing for the city’s young professionals, post-graduates and freelancers.

Photo: Press release/Futureal

“With those aged under 34 making up 75% of the city centre population, it is vital that as developers, we provide purpose-built options for young people that offer affordable, contemporary and energy efficient accommodation. Bradford Works will reimagine the HMO concept, bringing it up to standard with build-to-rent in terms of living standard, management and maintenance. We look forward to sharing more updates when construction gets underway.”

Tibor Földi, Chairman of the Board at Cordia Group, commented: “Cordia International operates in five countries, including the UK, where we are also active in the affordable housing and rental markets. Our shared living project in Birmingham’s Jewellery Quarter is a testament to our commitment to urban revitalisation, drawing on our extensive international experience.” Gábor Futó, Co-Founder and Shareholder of Futureal Group, added: “Over the past decade, Futureal Group has grown into an international leader in large-scale urban regeneration, with a portfolio of more than 240 projects across seven countries. We’re proud to bring our expertise to Birmingham and continue delivering world-class developments in a competitive UK market.”

Cordia UK is committed to creating sustainable, community-focused developments across the West Midlands, transforming underutilised areas into vibrant neighbourhoods that integrate modern residential and commercial spaces.

The area of Great Hampton Street is already experiencing transformation, with Cordia’s completed projects The Bank, a commercial hub hosting diverse tenants, and The Gothic, a collection of restored heritage buildings that now house high-quality apartments for sale, as well as The Lampworks, the developer’s first build-to-rent scheme to be completed in 2026

Bradford Works is set to complete in 2026.

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