HELP TO BUY BOOSTING PRIORY HOUSE
AS BIRMINGHAM EXPERIENCES SURGE IN CITY LIVING DRIVEN BY JOBS GROWTH
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Investors and owner occupiers, especially first-time buyers are targeting the redevelopment of Priory House in Birmingham as the city experiences a continuing return to the office with staff and their employers growing more confident.
The former Forensic Science Building in the Southside District has just been approved for Help to Buy (HTB) and with prices for a one-bedroom apartment from £180,000, the development sits well within the regional HTB limit of £255,600. Some 33 of the 79 apartments are eligible for Help To Buy.
However, with over 45% of the scheme already reserved ‘off plan’, David Hofton, Elevate’s sales and marketing director, advises not to miss out as the conversion of the iconic building into 79 loft-style apartments is on target for this July/August.
“We are seeing a very strong New Year upturn in interest as more staff return to the office and the city is becoming livelier by the day”.
“Priory House is situated in Birmingham’s cultural heartland, and the Southside District embraces Chinatown, theatreland and the LGBT Quarter”.
“Southside is currently being transformed into the new ‘front door’ of Birmingham’s city centre by the £8.7 million Enterprise Zone Investment Plan, and with Priory House our vision has been to create a new address at the iconic epicentre of this emerging hotspot.”
And with Birmingham rated as the city where property prices will rise at the fastest rate in the UK, interest rates still very low and very little new housing stock, developments such as Priory House are proving to be very much in demand.
Couple this with the relocation of organisations such as HMRC which are expected to create 6,300 high-earning jobs, the Commonwealth Games this year and the HS2 rail link going live before the end of the decade and Birmingham is seen as well placed for continued economic growth.
Mr Hofton added:“We are also seeing a surge in rental demand for central postcodes as Zoopla forecasting that UK rents will rise by 4.5% by the end of 2022”.
Prices at Priory House range from £180,000 for a one-bedroom apartment to £625,000 for the penthouse apartment.
Addressing the current major concerns in the apartment market, Priory House comes with a 250 year lease, an EPC minimum ‘C’ banding and with no external cladding - an EWS1.
The development has a landscaped courtyard to the rear and balconies to many of the apartments, both providing much sought-after outside space.
The overall style and aesthetic has much in common with Elevate’s first Birmingham project, the very successful Concord House on Holloway Head. Savills New Homes in Colmore Row are the selling agents (0121 200 4567) and a spectacular show apartment is available for viewing by appointment.
https://search.savills.com/property-detail/gbbmrdbrx210124
For further information, please contact David Hofton, Sales & Marketing Director, Elevate Property Group, St Pauls House, St Pauls Square, Birmingham, B3 1RB 0121 272 5729
www.elevatepropertygroup.co.uk
LIVE24-SEVEN.COM
THE MIDLANDS PROPERT Y GUIDE E L E VAT E PROPER T Y GROUP
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