100-plus luxury apartments to be managed by Principle on site where it first launched

Principle Estate Management is to look after 102 luxury apartments at a £34 million development in Birmingham city centre where the company’s first headquarter offices were once based.

The contract to manage SETL, located on the corner of Lionel Street and Ludgate Hill within the city’s thriving Jewellery Quarter, has come from leading UK developer HBD.

Joe Jobson, joint managing director of Principle, explained that SETL will include 102 one and two-bedroomed apartments and around 2,500 sq ft of commercial space on the site that was previously home to Cornwall House.

Mr Jobson said: “We’re delighted to be involved with HBD’s first city centre development in Birmingham that brings contemporary residential living to an area with such a strong commercial history.

“The fact that this site was once home to Principle’s launch headquarters makes this contract even more attractive to us!

“Alongside the apartments, there will be some fantastic amenities including a co-working lounge, wellness studio and a private rooftop garden.

“The commercial space will then be dedicated for the best of Birmingham’s independents.

“We have been working closely with HBD on how we plan to manage the development, and we are already well ahead with putting together budgets, creating operating and maintenance manuals, and getting service contracts ready.

“We are really looking forward to making SETL one of the best places to live in Birmingham city centre, making a real difference to residents’ lives every day.”

Simon Raiye, a director at HBD, said: “SETL is one of the city's most exciting new developments, creating high-end, design-led apartments in one of Birmingham's most sought-after areas and we look forward to working with Principle as the development reaches completion.”

HBD has used architects BPN, specialists in the Jewellery Quarter, to design SETL, while GMI Construction is contractor for the scheme.

Launched in 2018, Principle has since grown into what is now more than 60 staff looking after a portfolio of more than 11,000 units at around 300 developments across the UK.