18 OCTOBER 2015 SENIOR LIFESTYLE 21 Retirement Planning & Property Your first choice in the second city
Tere’s never been a better time to invest in Birmingham. Te much-maligned concrete monster of the 1960s is gone. Birmingham is now a thriving, creative city, full of new businesses, bars, galleries, parks and regeneration projects. A £4Billion investment in the city’s infrastructure, an influx of 73,000 affluent foreign students and a global media focus has lead to a vast surge in people wanting to live in Birmingham’s centre. Relocations by some of the world’s largest companies, such as HSBC & Deutsche Bank, in addition to the opening of the £150Million Grand Central Station and John Lewis flagship store, have given credence to the belief that Birmingham is the place to be in the UK. Tese giants have maintained momentum in the job-creation market, meaning people continue to move to the city and require a place to live.
‘Perfect storm’ creates extraordinary demand With five high-class universities, 14,000 jobs created in 2013/14 and transport links to financial hotspots
apartment in Birmingham, compared with a single room and an hour commute into Canary Wharf from beyond Zone 6.
Gross under-supply is forcing prices up Birmingham was leſt with just 16,000 city- centre apartments following the financial crash in 2008 and, with little or no development for five years, the current demand is forcing ‘off-plan’ property prices up by 30% during the build period. With too many tenants and not enough apartments, rental yields are currently at 7% and rising. According to Knight Frank, this upward trend is set to continue until at least 2019 as supply can’t physically meet demand until that point.
Pension income or kids on the property ladder? Te 2008 financial crisis reset the playing field
like London, Beijing and
Shanghai, it’s no wonder people are describing the scene in the city as a perfect storm, with the property market at the very core of it. Te HS2 proposal has highlighted a
49-minute commute between London and Birmingham and an £800 monthly rental budget bags you your own stylish one-bedroom
Most investors are from the UK not the Far East Te Birmingham story has reached UK families well before international investors and 70% of the scarce stock in the city is being snapped up by the British public, but there’s huge interest building from the Far East and the number of investors in this region is now soaring.
Developers selling to pension funds Institutional money has entered the residential arena for the first time, to take advantage of the rising 7% yields, and many developers are selling whole schemes to this market. Seven Capital is one developer that’s bucking
this trend. It’s acquired over 50% of the city’s available apartment stock and is marketing heavily to meet UK investor demand. “While other developers were reeling from
for investors. Te tried-and-tested
method of putting money into the bank, pension plans or London property has been broken, and now investors are required to think again about how to provide security for their money. Whether creating capital growth, future passive pension income or getting the kids on the property ladder, Birmingham city-centre apartments offer the low-price entry-level that savvy investors are hungry for.
the effects of the economic crash, our size and local knowledge allowed us to be agile and reap the rewards of lower land costs, says Andy Foote, director at Seven Capital. “Tese savings, which are passed directly onto the investors and buyers, have helped us position ourselves as the pre-eminent developer in the city, with the lowest prices, highest specifications and most desirable location. “We understand the mindset of the UK
investor. We want capital growth and passive income so we can retire comfortably. We want to help our children onto the property
Seven Capital is Birmingham’s leading developer. With a constantly growing portfolio of luxury developments, the company is at the forefront of Birmingham’s renaissance. To enquire about investing, contact the dedicated investment team T: 0121 296 1548 E:
enquire@sevencapital.com
ladder and we also want to create capital growth, so we have that nest egg to spend, should we need it. For most of us, we want a hands-off investment with professionals looking aſter our properties and providing an efficient service.”
UK Buyers are looking for a hands-off investment Seven Capital also claims
to be unique in
offering such services as property management, mortgages, furniture packages and a re-sale department, focusing on selling clients’ apartments when they want to cash in on their investment.
Largest residential development in Birmingham city centre Saint George’s Urban Village is one of the only developments available in Birmingham. It consists of 625 apartments, located in the sought-aſter Jewellery Quarter, home to many professionals. Te local planning authority has given consent to large, high-quality apartments to fit the local rental demand from the city’s young professionals. Te first phase, entitled Te Kettleworks,
is about to be released and it’s
expected to sell out during October, with prices starting at £132,950. Work has started on site and the development is anticipated to be completed in Q4 2017.
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