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PRIVACY
Commercial Property

Construction of new 49-storey apartment tower completes

The Octagon is the latest phase of Birmingham's £1.2bn Paradise estate to launch

The Octagon apartment building in Birmingham

Construction has completed on a huge new apartment tower in Birmingham city centre.

The £110 million Octagon building sits on the northern edge of the Paradise estate off Great Charles Street and has 370 apartments to rent, ranging from one to three bedrooms, and a retail unit across 49 storeys.

Amenities for residents include a lounge, private dining area, co-working spaces, gym and concierge services alongside a new retail unit.

It is said to be the world's first octagonal residential skyscraper and took three years to build.

The new tower will be managed by Allsop and is due to begin welcoming its first tenants this month.

The wider £1.2 billion Paradise estate is an office-led scheme by MEPC, the specialist development arm of Federated Hermes on behalf of its clients.

Octagon is backed by Singapore-based real estate investor City Developments whose director Neil McGinty said: "Our original investment was recognised as one of the largest foreign direct investments made in the º£½ÇÊÓÆµ regions in recent years and that investment has now come to fruition as we prepare to welcome our first residents.

"This moment underlines our commitment to Birmingham as a world-class, international destination with a strong regional economy and an exceptional future.