By Bilal Ahmed, Chairman and Founder of Sama Investment Group
A lot can happen over the course of twelve months, and at Sama Investment Group this was certainly the case with 2024 representing yet another milestone year for the business…
Our growth continues
At the start of the year the Group grew with the launch of a new corporate advisory business, Sama Capital. The new firm based out of Birmingham and London has already made great strides through its offer of corporate, real estate, and private debt advice, as well as helping clients to understand and access Islamic finance.
This announcement was shortly followed by another, with the Group securing a £500m equity injection to support the delivery of Purpose-Built Student Accommodation (PBSA) and residential across our regional pipeline.
Made up of significant foreign investment from the Far East, it has and will continue to help accelerate delivery of several of our schemes across Birmingham and the West Midlands.
The funding has helped Sama Investment Group’s wider strategic approach of identifying PBSA and residential opportunities which could benefit from our specialist regeneration approach. This includes stalled development sites which could be kickstarted, strained assets and buildings which require cladding, remediation upgrades, and futureproofing – as well as new to market opportunities.
Examples so far were the acquisition of two operational student accommodation schemes – known as Pinnacles and Chambers – totalling 900 beds in Sheffield and Wolverhampton respectively.
Green lights for our projects
By the start of Spring we saw our plans for Garrison Circus in Birmingham’s Digbeth Quarter unanimously approved by councillors. Receiving the green light for our major plans represented a huge milestone for the Group, with the development set to transform an underutilised brownfield site to unlock a new gateway into Digbeth, whilst also supporting the wider regeneration of the area.
Not only will we deliver over 546 much-needed new homes and support the vibrancy of nearby universities with 710 student beds, but our plans offer street-level community uses and green space for existing residents in the area to enjoy.
Since this point, we’ve worked closely with Birmingham City Council and other partners to progress this opportunity and ensure this exciting project delivers true value locally.
Elsewhere to the east of Sheffield city centre our plans to build a 498-bed purpose-built student accommodation and an 85-bed care home on a long-abandoned brownfield site were approved. Our two schemes for the hilltop site – aptly named ‘Parkhill Views’ – will transform a large, barren plot which has long been an eyesore for locals into an attractive new community area.
Finally, later in the year we saw plans for 130 student beds at the edge of Coventry city centre given the green light. The development, known as Charter House, will see an industrial site on Charterhouse Road transformed to deliver a new student accommodation scheme that has been designed with sustainability at its heart, incorporating renewable energy technologies throughout the scheme.
Outdoor courtyard space and garden areas overlooking Sherbourne River are also included in the proposals, with the aim of maximising the student experience and wellbeing, within a natural environment.
Launching new plans
2024 was also a year for launching new plans, including our vision for the transformation of 1 Lancaster Circus in Birmingham. Following a period of consultation, we submitted a planning application which will see the underutilised brownfield site which was previously Birmingham City Council’s office building redeveloped to deliver a flagship scheme for the local area and city.
Our ambition is to deliver two landmark towers of 41-storeys and 48-storeys which will deliver residential and much-needed student accommodation.
It will also see the addition of a pavilion to part of the site, which will act as a focal point for the development and will allow both residents and the public to circulate through the site more effectively. This will further harness ambitions for 1 Lancaster Circus to act as a new gateway from the Gun Quarter and Jewellery Quarter into Birmingham City Centre, with extensive green, public open space and a pedestrian corridor central to the re-imagined destination.
Continuing our ambitions to support long-term growth in Birmingham, we also submitted plans to deliver 301 student beds on a prominent brownfield site in the heart of Birmingham’s vibrant China Quarter. The sustainability-focused project will support the continued progression of nearby universities with excellent accommodation and amenities for students, whilst also helping to unlock rental properties for other residents in the city.
Finally, on the outskirts of Birmingham city centre we submitted plans for 31 new residential apartments and commercial space as part of a new residential community to the north of the iconic Balti Triangle.
Alongside much-needed new homes, the project, known as the Ladypool Road development, could provide opportunities for independent shops, cafes, or restaurant as part of a vibrant and active street level. It would also act as a catalyst for wider regeneration in the local area, with enhancements to Highgate Road forming part of the brownfield regeneration scheme.
Gearing Up for 2025
While 2024 was a standout year for the Group, we’re eager to continue to build on our excellent progress with a strategy for 2025 already well underway. Stay tuned for what comes next at Sama Investment Group…
