Knight Frank and Savills have been appointed by Berkeley Group’s newest division, St Joseph, to launch its first development in Birmingham. Snow Hill Wharf is the first luxury residential development in the city’s untapped Gun Quarter. It offers high quality apartments in an area rich in heritage within Birmingham city centre. Ideal for those who enjoy the advantages of city living, the development benefits from excellent transport connections, city centre amenities and a stunning canal side location, with landscaped podium gardens.
Location:
- Snow Hill Wharf is located in the heart of the city, just moments from major transport connections at Snow Hill train station, New Street train station and the forthcoming High Speed 2 rail terminal.
- From New Street Station, it takes just 12 minutes to Birmingham International Airport, and there are direct connections to London Euston and Manchester.
Property Information:
- Snow Hill Wharf features 404 high quality one, two and three-bed apartments. Apartment sizes range from 442 sq ft to 1,634 sq ft. Prices start from £189,995, with completion estimated from Q1/Q2 2021. The first phase of apartments released will be located within The Barker and The Lancaster buildings - The Colmore, The Belmont and The Fazeley buildings will be launched over the coming year.
- Snow Hill Wharf boasts a mix of one, two and three-bedroom apartments, located in five uniquely designed buildings. Many apartments offer panoramic views of the city and the growing skyline, with some also benefitting from views of the three landscaped podium gardens and views to the canal side.
- Private resident’s facilities will include a gymnasium with a sauna and steam room, a luxury resident’s lounge and cinema room, and a 24 hour resident concierge.
Richard Starkey, Managing Director at St Joseph, said: “Snow Hill Wharf is here. A development of unrivalled quality that will create a new community in the historic Gun Quarter of the UK’s second city. Birmingham is a property market on the rise and represents a strategic priority for Berkeley Group. By reshaping its residential offering, we aim to attract more people to this great city - a hotbed of investment boasting very strong rental yields and capital growth.”
While the arrival of developments such as Snow Hill Wharf are set to bring new levels of attention to the city’s property market, prices offer relative affordability when compared to London. Knight Frank reports that average residential prices per sq ft in Birmingham currently sit between £300 to £450 - well below those recorded in the capital, where prices frequently move above £1,000, making the city an attractive proposition for both owner-occupiers and those looking to invest.
Mei Han Wong, Executive Director, Head of International Project Marketing at Knight Frank commented, “According to ONS, the annual growth rate for residential values in Birmingham averaged between 5% and 10% since mid-2015. The strong growth rate in prices seen in the past few years has contributed to a 45% rise in average residential property values since the post-crisis trough in 2009.
“Snow Hill Wharf is a best in class development, unlike anything else currently on offer in Birmingham. With excellent transport links and huge infrastructure investment in the area, it is an excellent opportunity to invest in a city on the rise.”
Why buy in Birmingham?
- Location and infrastructure: 90% of the UK is within a 4-hour drive. Two High Speed 2 (HS2) railway stations are being built in central Birmingham and nearby Solihull, which will shorten journey times to and from London to under one hour.
- Popular migration location: Birmingham was the most popular city destination for those migrating from London in 2017, ahead of cities including Manchester, Leeds and Bristol, according to data from the ONS.
- Education: There are 5 universities in Birmingham with 52,000 graduates each year. The rental market is supported by demand from students studying at the city’s numerous universities. Birmingham is also the third best performing city in the UK for attracting graduates who have no prior links to the city, helping drive further demand for rental accommodation.
- Property market: The average price in Birmingham is around £178,000, notably lower than the UK average. Rental growth has also been positive, with the 2018 Birmingham Market Update reporting a 15% increase in asking rents for a standard two bed apartment since 2015 – now averaging £860 per month. Comparing with other key cities in the UK, Birmingham’s rental growth has outperformed London, Manchester and Leeds over the last five years, with a 27.2% increase.
- Outlook: Given the forecasted growth in the city’s population, predicted to reach 1.3 million by 2039, and all of the amenities throughout the city centre, the demand to live in Birmingham is expected to continue to grow well into the future.
Hong Kong Exhibition Details:
Date: 1 and 2 September 2018 (Saturday and Sunday)
Time: 11am to 7pm
Venue: Berkeley Groups’ Hong Kong office - Suite 3001, 30/F, Edinburgh Tower, The Landmark, 15 Queen's Road Central
Prices and details correct at the time of distributing this press release. Purchasing uncompleted properties situated outside Hong Kong is complicated and contains risk. You should review all relevant information and documents carefully before making a purchase decision. If in doubt, please seek independent professional advice before making a purchase decision.
1) Permit No: 2017/09308/PA
2) Issued Authority: Birmingham City Council
3) Acquiring Interest: 250-year leasehold of an apartment
Our sales representatives for overseas property work exclusively in relation to properties outside Hong Kong and, unless expressly stated otherwise, are not licensed under the Estate Agents Ordinance to deal with Hong Kong properties.