Two of Birmingham's best-known property developers have launched a new venture aiming to create a tranche of exclusive homes.

Real Estate Investors (REI) has unveiled a partnership with Court Collaboration to capitalise on a flourishing market in the city.

The venture brings together two of the city's best-known property professionals, REC chief executive Paul Bassi and Court founder Anthony McCourt - both of whom were named recently in the Post's Power 250 list of the city's most influential people.

The pair plan to create some of Birmingham's most desirable new homes to cater for a growing demand for luxury properties in the city centre and suburbs.

Mr Bassi said: "Birmingham has some world-class shops and offices and a business scene that is grabbing attention globally.

"Now, the demand is there for some really exceptional homes but the market is still catching up and HS2 will create further demand.

"We want to develop the kind of properties rarely seen in the region - because the opportunities haven't been there to be this ambitious until now.

"We want to create residential property the city can be proud of - the kind of homes you aspire to live in - and Court Collaboration is the right partner to deliver that."

The demand for world-class luxury in Birmingham has soared amid a rising trend for executives trading London for the city.

Government data published just over a year ago showed that 5,480 30-somethings left the capital for Birmingham, more than any other UK city.

The partnership between REI and Court brings together one of the most prolific investors in the city centre, on track to deliver a £200 million property portfolio in the Midlands, with a rising developer.

Court Collaboration has redeveloped Franklin House, a former Cadbury factory in Bournville, and the Sutton Coldfield Council House, into luxury residential schemes.

Mr McCourt said it was a major step forward to work with REI.

He said: "Paul Bassi has been synonymous with success in the Birmingham property market for decades now.

"He was once again ahead of the game investing heavily in this city at the start of this cycle - leading the way where many are now following. This city is changing in front of our eyes and its housing needs to catch up."