WHY INVEST IN PROPERTY IN BIRMINGHAM?
Birmingham is the fastest-growing city in England.
Its population is projected to reach 1.24 million by 2030.
Coupled with increased business activity within the city, professionals from all over the UK are lured to our beloved city each year, and this is spurring demand for accommodation.
Numerous developments are underway to meet the city’s burgeoning needs and investors are taking advantage of the boost in property prices and rental yields that the increased demand is generating.
In short, Birmingham is an increasingly attractive prospect if you are interested in investing in property.
But where do you start?
Here we summarise the new developments that are underway throughout our city.
FUTURE NEW BUILD DEVELOPMENTS
Birmingham East Side
Birmingham Eastside is poised to become a bustling hub of activity thanks to significant regeneration efforts. Its strategic location near the city centre and the presence of corporate giants like HSBC make it an attractive spot for commercial occupiers.
Furthermore, with major projects like Digbeth and Smithfield nearby, properties in Birmingham Eastside are set to appreciate in value.
As the HS2 station (Curzon Street Station) reduces travel time to London to just 45 minutes, property prices, currently modest, are expected to rise.
The area’s tech-focused community adds to its appeal, making it a destination for innovation and business. With a remarkable 401% property price growth since 1999 and an average rental yield of 5.1%, let’s look at 2 key developments in this area:
1. One Eastside
Construction has already begun on One Eastside, a 51-story residential skyscraper in Birmingham. It’s expected to become the city’s tallest building, featuring the highest rooftop terrace, and is set to be completed in 2026.
Developed near the new £1 billion HS2 station at Curzon Street, it will offer 667 build-to-rent homes, including one and two-bedroom apartments, along with various amenities like gardens, courtyards, a gym, a cinema, and a residents’ sky lounge with stunning city views.
Located centrally with excellent amenities and transport links, One East Side promises to be one of the region’s most coveted residential destinations.
2. Exchange Square: Phase 2
Phase 2 of Exchange Square is another exciting new build development in Birmingham set to be completed by 2024. This development marks the final stage of Nikal’s £350m Masshouse project. It features 375 apartments in a 37-storey residential block, a 235-bed Premier Inn Hotel, along with a 6,000 sq ft bar and restaurant.
Additionally, the project includes 7,500 sq ft of high-quality retail space and 63 undercover parking spots. The development connects to ‘New City Square,’ a new public space linked to the McLaren Building.
Situated near the future HS2 Curzon Street Station, it offers excellent connectivity to London and other major cities.
As an attractive rental option for commuters and business travellers, landlords should capitalise on this strategic location.
Birmingham Centre
This £1.9 billion Smithfield project focuses on sustainable mixed-use developments and improved transport links to boost the Midlands’ economy. Investment in the Midland Metro is already providing efficient links within the city and surrounding areas, with potential expansion to the University of Birmingham and Queen Elizabeth Hospital.
The development is expected to create roughly 100,000 jobs and attract billions in infrastructure investment. Additionally, the scheme includes the restoration of the River Rea, which will run through the city centre as part of the Rea Valley Urban Quarter, featuring five distinct neighbourhoods.
As a landlord, consider the potential rental income and capital appreciation that this vibrant hub will likely generate.
1. Smithfield Square
Smithfield Square is a groundbreaking development located in the heart of Birmingham’s city centre with the initial phase earmarked for completion by 2027.
Smithfield Square will offer a mix of residential apartments and commercial spaces. It is strategically positioned to leverage exceptional transport accessibility, primarily via Birmingham New Street Station, which offers direct rail connections across the UK and a quick 9-minute journey to Birmingham Airport.
2. Holloway Head
With a completion date of 2025, Holloway Head offers a blend of residential and commercial spaces in Birmingham’s city centre. With its innovative approach to urban development, it is likely to attract a diverse range of tenants, making it a versatile addition to your property portfolio.
The project, situated within a 10-minute walk from Birmingham New Street Station, involves a contemporary design with four blocks of varying heights (10 to 16 storeys) to address the site’s steep slope, which has been vacant for over 25 years.
The development includes 485 apartments, comprising 132 one-bedroom, 344 two-bedroom, and 9 three-bedroom units. It offers extensive resident amenities such as a media lounge, co-working spaces, lounges, dining areas, a gym, landscaped courtyards, and roof terraces, as well as commercial space on the ground floor.
Birmingham South
1. Lower Essex Square
Lower Essex Square is a new residential development with an estimated completion date of summer 2025. It will comprise 628 Build-to-Rent apartments, which include affordable housing, along with residents’ amenity space and affordable community spaces.
Located a short walk from the South of Birmingham’s city centre and New Street Station, the development is immediately adjacent to the 40-plus acre Smithfield regeneration area, making it an investor’s dream.
Birmingham North
1. St Paul’s Quarter
St Paul’s Quarter is a mixed-use development located in Birmingham’s Jewellery Quarter Conservation Area. This project combines new and restored Grade II listed buildings, offering a total of 305 residential units, including one-, two-, and three-bedroom apartments, including duplexes.
Additionally, there will be 100,000 sq. ft. of retail and business spaces, including shops, restaurants, and bars.
The development features a new pedestrian walkway, connecting the Jewellery Quarter to Northwood Street, providing convenient access to Birmingham’s Central Business District, just a 10-minute walk away.
This area is proving popular with single professionals and couples, but also attracting families who want to take advantage of a villagey feel in the city centre.
START WITH FLEETMILNE
With so many new investment opportunities in Birmingham, determining the best place to invest can be difficult and time-consuming.
Property investors often seek the expertise and services of property management companies in the West Midlands.
FleetMilne has over 30 years of experience in Birmingham’s residential property market providing comprehensive advisory, letting and maintenance services to regional investors, meaning you can be assured of a great rental yield.
Our property investment services remove the guesswork from investing in property in Birmingham so that you can be confident of a great return on your investment.
Interested in one of these future developments? Find out more about our property investment services here or book a free consultation with one of our Property Consultants here.
BIRMINGHAM CITY CENTRE: AN ATTRACTIVE INVESTMENT
Birmingham’s property market is on the rise, presenting landlords with numerous opportunities for expansion and diversification.
Investing in these new developments can position you for long-term success by capitalising on the city’s growth and increasing demand for high-quality rental properties.
However, as with any investment, conducting thorough research and considering your specific investment goals and risk tolerance is crucial. Invaluable assistance can be provided by property management companies like FleetMilne. Let us offer you peace of mind and a competitive edge in this dynamic market.