Major update on former M&S store on Birmingham High Street

The former Marks & Spencer flagship store in Birmingham has been acquired in a move which will enable the progression of a landmark build-to-rent development which it describes as a "once-in-a-generation opportunity".

The flagship store closed in 2023, with the retailer moving to a smaller premises in the Bullring.

BlueCastle Capital has purchased the High Street store from M&S following the retailer's move, reports Insider Media.

The developer will aim to transform the old M&S building into residential-led development with high quality homes that will be used as a buy-to-rent scheme.

The site is hoped to serve as a gateway to the city and a key anchor point between Birmingham's central business district, the creative quarter of Digbeth and the emerging Smithfield development area.

Ed Williams, chief executive of BlueCastle Capital, said: "This is a 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 build-to-rent scheme that sets a new benchmark for quality, sustainability and urban living.

"Birmingham's connectivity, culture and momentum make it a key city for our long-term strategy, and the site's strategic location next to the HS2 terminus makes it a critical piece in the city's regeneration puzzle."