The 30-storey Makers’ Yard scheme has been designed by Glenn Howells Architects and will include 551 apartments, 47 of which will be affordable.

Residents will be able to enjoy social lounges, a gym, co-working space, large double height reception areas, a landscaped podium and a double height sky lounge.

At the heart of the 2.47-acre site will be a new pedestrianized public square, giving access to the scheme’s 1,483sq.m of ground floor commercial space that will enable local employment opportunities.

Alex Pease, Chief Investment Officer of Watkin Jones, said: “This decision marks the growing recognition of BtR’s role in creating sustainable new homes, and our expertise in delivering a strong pipeline of landmark places across the UK.

“I’m thrilled that we can now get on and start building this fantastic scheme, which is already attracting strong interest from institutional investors.

“Birmingham’s dynamism and central location puts it in a really strong place to grow after the pandemic. But to keep cities desirable as places to live we must continue to attract long-term institutional investment into creating homes that offer an amazing living experience.”

Sandeep Shambi, Partner, Glenn Howells Architects said: “At the centre of the scheme is a ‘village square’ serving as the community Hub and housing a range of amenities for residents, such as a gymnasium and yoga studio, a range of lounge spaces and flexible workspace.

“A series of connected green spaces is offered for the private and communal use of the residents, in the form of courtyards, roof terraces and gardens. Each will offer a place to play, unwind, work and socialise.”

Watkin Jones is expecting to complete the scheme by 2025.