The 481-apartment tower has been designed exclusively for rent, offering hotel level service and a 200m running track around the podium building roof – one of the first in UK housing.

Glenn Howells Architects designed the 132m tall building will be the tallest residential tower in Birmingham

The £184m project will transform the derelict site of the former Click Club at Burberries, which hosted bands such as Blur and Primal Scream, underpinning the regeneration of the Broad Street area.

Work is due to start this month, with completion expected in 2022.

Andrew Parker, Director of Projects, Moda, said: “We are extremely pleased to be working with John Sisk and Sons on this landmark project.  The teams have worked constructively together over many months to reach this milestone and we look forward to a successful project being delivered. ”

The start on-site is a major vote of confidence in both Birmingham as a city and also Britain’s emerging build-to-rent sector despite the ongoing uncertainty caused by Brexit.

The Broad Street site features a 60,000 sq ft podium with over 30,000 sq ft of dedicated communal space including residents lounge, dedicated health and wellness zones, co-working space, indoor/outdoor dining club featuring a demonstration kitchen as well as a range of ground floor commercial spaces.

The Broad Street site will be Sisk’s biggest Midlands scheme to date. Other high-profile projects the £96m Circle Square mixed-use scheme in Manchester, as well as Quintain’s huge Wembley Park 7,000-home build-to-rent development.

Guy Fowler, Regional Managing Director at John Sisk & Son, said: “We are delighted to have been appointed by Moda to deliver this landmark scheme in the heart of Birmingham. We look forward to working in partnership with all our stakeholders and in particular the local community to create a lasting legacy.

“As a family-owned business we are committed to people and that is what makes us successful in delivering complex projects.”

Backed by Apache Capital Partners, Moda has a £2bn development pipeline of 7,000 apartments across 10 UK cities.

The first project to finish will be £154m 35-storey Angel Gardens in NOMA, Manchester, which will offer 466 homes designed specifically for rent. First residents will move in this Summer.