Leumi UK provides £29m loan to take forward prominent Birmingham residential development

By Bridging Loan Directory 3rd March 2025

Specialist real estate lender Leumi UK has provided a £29m facility to Commercial Estates Group (‘CEG’) to refinance and progress the initial phases of a major residential scheme in Birmingham.

This marks the second transaction between Leumi UK and CEG.

Located on Smallbrook Queensway in central Birmingham, once developed, the site will comprise of three Build-to-Rent towers which will deliver a total of 1,635 apartments, and is set to become one of the city’s most significant residential schemes.

Ideally situated opposite Birmingham’s New Street Station and near the vibrant Chinese Quarter and Gay Village, the development will feature modern, high-specification apartments and communal roof terraces.

The project has a strong sustainability focus, targeting a BREEAM Excellent rating, and will incorporate an all-electric approach using solar panels, well-insulated materials, and energy-efficient ventilation.

The development is poised to become a landmark residential scheme for the city of Birmingham.

CEG was founded in 1989 and has worked on a diverse range of projects across multiple sectors, from workspace and residential through to retail, industrial, and mixed-use, and holds planning consent for over 30,000 homes and 10 million sq ft of employment space.

Gordon Grech at CEG added:

“We appreciate Leumi UK’s continued support throughout our second transaction together, as well as their ability to move swiftly on what was a complex deal.

The team’s clear understanding of the sector and ability to navigate multiple moving parts ensured a smooth process.

This is a transformational project for Birmingham, and we are excited to take it to the next stage as we move towards delivery.”

Chris Stallard, Relationship Director at Leumi UK, commented:

“We’re thrilled to work with CEG again, a highly respected organisation with a long history of delivering high performing schemes across a broad range of sectors.

This development is ideally located in central Birmingham and will play an important role in providing meaningful supplies of new homes that the city urgently needs.

This transaction epitomises Leumi UK’s relationship-driven approach and commitment to delivering efficient, flexible finance solutions.

We look forward to supporting future projects with CEG.”