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Property


Sector Focus Plans for city’s tallest building


View from the top: how the Regent tower block will look


A property developer has taken the wraps off a 21-storey Birmingham residential tower, which is says will be the tallest in the city. The developer is St Joseph and the tower is The Regent, which will be


located at the Snow Hill Wharf development in the city’s Gun Quarter. The tower will include 108 of the 420 homes that are being built at Snow


Hill Wharf, St Joseph’s first development in Birmingham. The Regent will also have a pair of two-storey rooftop penthouses, which


St Joseph says will be among the most luxurious ever sold in the city. Alongside The Regent, St Joseph has also brought forward the 84


remaining homes at Snow Hill Wharf to market. The company said this followed strong buyer demand at the site, with


more than half of the flats there being bought ahead of the first completions, which are not scheduled until next year. Snow Hill Wharf features a cinema room, residents’ lounge, 24-hour


concierge, sauna, steam room and gymnasium. More than 40 per cent of the 1.87-acre neighbourhood is outdoor space and as part of this, St Joseph is creating three podium gardens overlooking the Birmingham and Fazeley Canal. The development is being marketed digitally, due to coronavirus. St Joseph


is using a virtual system that allows potential buyers to tour the neighbourhood. The interactive technology allows users to experience the


apartments, gardens and communal areas in 360 degrees, alongside the different views from all 420 homes. Ashley Kensington, managing director at St Joseph, said: “St Joseph


believes in the long-term resilience and growth of Birmingham, including its property market. This was one of the main reasons why we committed to regenerating parts of the city, creating new homes for communities to thrive.


‘The development is being marketed digitally, due to coronavirus, using a virtual system’


“The future for the city is bright. Major infrastructure projects are underway


and global businesses are relocating their offices here, such as BT and HSBC, which is encouraging more professionals and those living internationally to come to Birmingham. “This market launch sees St Joseph finally reveal The Regent. As the jewel


in Snow Hill Wharf’s crown, it features a mix of one and two-bedroom apartments, offering panoramic views of Birmingham’s evolving skyline.” Data from estate agent Rightmove has revealed demand for homes within Birmingham’s Gun Quarter and wider B4 postcode has led to sold prices increasing by a massive 23 per cent on the previous year.


Avison bucks trend with new city centre office space deal


Take-up of city centre office space in Birmingham and other major centres has plummeted, says a commercial property agent Avison Young. The first says the coronavirus crisis has seen


office space taken-up in the UK’s nine big regional areas drop to just 329,000 sq ft during quarter two, compared to 1,379,000 sq ft snapped up in the previous quarter. Only 61,000 sqft of office space was let in Birmingham city centre in quarter two, a significant drop on the ten-year quarterly average of 188,000sq ft. In fact, this figure would have been even worse


had Avison not let 48,000 sq ft of space in the Jewellery Quarter to the Department of Work and Pensions, at a development called B1 on Summerhill Road. The next biggest deal during the quarter was


for a miserly 5,249 sq ft at Edward House, Quay Place, taken by the Ministry of Justice.


Despite this, Avison’s Birmingham managing


director thinks that better days are ahead for the city’s office. Carl Potter said: “Carl Potter, managing


director of Avison Young Birmingham’s office, said: “The B1 deal is a significant one for the Birmingham office sector, proving that activity has understandably slowed but not come to a standstill – far from it. “As the current climate sees occupiers’ priorities shifting towards cost reductions and Covid-19 compliancy, the versatility of space available in the city and a high volume of deals at the start of the year leaves the market in a stable position. “We can expect this resilience to be


demonstrated through activity picking up in the coming months – with key completions at Paradise and Arena Central driving a still evolving and exciting city centre office landscape.”


Carl Potter:


all is not gloom and doom


October 2020 CHAMBERLINK 63


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