More affordable homes at Port Loop as new shared ownership apartments launched

The pioneering Port Loop neighbourhood being created on derelict industrial land in the heart of Birmingham has seen another 58 homes completed including affordable apartments.

All of the 58 architect-designed, two-bedroom apartments in the newly completed Mansion House building are available to move into now, with 28 now available through the government-backed Shared Ownership scheme. 

Shared Ownership enables aspiring homeowners to buy a portion of a property while paying a subsidised rent on the remaining share.

The apartments have been built by developer Urban Splash in partnership with Places for People after the West Midlands Combined Authority (WMCA) agreed a £13m investment to unlock the land for regeneration.

Each apartment offers bright and spacious living areas, a private balcony and modern designs.

Richard Parker, Mayor of the West Midlands has made the construction of more social and affordable housing a key priority for the region.

Since his election 12 months ago he has used West Midlands Combined Authority (WMCA) funding to unlock sites that will provide more than 1,000 affordable homes, including more than 500 homes for social rent, which is more than in all the schemes the WMCA has ever grant funded.

In January the Mayor announced a further £1.7m funding for Port Loop to provide another 124 social and affordable homes on five acres of the site.

Speaking about today’s announcement, the Mayor said: "Too many families are waiting too long for a safe, affordable place to call home because our region just doesn’t have enough houses that people can actually afford.

“Many are left with no choice but to live in private rentals that are often poorly regulated. For them, the prospect of owning their own home is nothing but a distant dream.

“They deserve better, and that’s why I have committed to building thousands of new social and affordable homes. Already we have funded over 500 social homes in the region – more than we’ve ever grant funded before.

“Port Loop shows how we can work with private partners like Urban Splash and Places for People to build high-quality, affordable homes that also create vibrant new communities that people feel connected to and proud of.”

Guy Ackernley, managing director, development and residential at Urban Splash, said: "Our vision for Port Loop has always been about inclusivity – creating a neighbourhood where people from all walks of life can find a home that suits them.

“Whether through outright sale, rental, or shared ownership, we want to offer customers real choice. It’s brilliant to now be able to offer even more affordable options in this growing community."

Nilam Buchanan, Regional Managing Director for Central and North Developments at Places for People, added: "Port Loop is a blueprint for how we can deliver beautiful, sustainable homes while making sure affordability is at the heart of new neighbourhoods. We're proud to be part of a project that offers real opportunities for people to put down roots, and to build thriving, mixed communities that last long into the future."

Today’s announcement comes amid broader milestones at Port Loop. Urban Splash and Places for People recently confirmed that long-term collaborator CIVIC SQUARE has acquired 48,000q ft within Tubeworks, a collection of historic industrial buildings totalling 100,000 sq ft, at the heart of the masterplan.

The broader transformation of Port Loop continues at pace, supported by a coalition of partners including Birmingham City Council, the Canal & River Trust, and the WMCA.

Homes at Mansion House are available through shared ownership, with shares starting from just 10% up to 75%, depending on affordability. For example, a 30% share is priced from £88,500, offering buyers an affordable route into homeownership in this prime Birmingham location.

To find out more, contact agents Spicerhaart or visit: https://www.urbansplash.co.uk/mansion-house-port-loop