Tuesday 23 May 2023
When thinking about investing in property, it can be overwhelming knowing which city to invest in as there are many great ones in the UK.
Looking at key area statistics as well as future regeneration plans is pivotal in making an informed investing decision.
A firm favourite of ours at ERE Property & one we often recommend to ERE investors is Birmingham. Here are a few reasons why…
- UK’s second-largest city, with an ever-increasing international standing
- Direct access to over 100 destinations from the airport, which is accessible in 9 minutes from the city
- 33 million visitors
- £18bn economic output
- Designated Science City and a Digital City
- An expanding creative industries representing 10% of the city’s total number of firms
- 484,000 employed
- Youngest profile of any city in Europe, with 37% of the population under 24 years of age
- 65,000 students
- The second most ethnically diverse population in Europe
Some impressive statistics, but what’s in store for the city’s future, its regeneration plans?
The Big City Plan is a 20-year City Centre Masterplan. It's a vision to encourage and support Birmingham’s continuing transformation into a world class city centre. It covers every aspect of the built environment. This includes:
- Creating 1.5 million square metres of new floorspace
- Creating over 50,000 new jobs
- Contributing £2.1 billion to the economy each year
- Creating a well-connected, efficient and walkable City Centre
- Providing 65,000 square metres of new and improved public spaces
- Providing 28 kilometres of enhanced walking and cycling routes
- Providing over 5,000 new homes with new leisure and recreational facilities to attract more families
- Valuing the city centre’s heritage and cultural assets
- Integrating sustainable development and addressing the impact of climate change as part of the future transformation of the city centre
- Delivering five areas of transformation supporting the growth of the City Core.
Source : Birmingham City Council https://www.birmingham.gov.uk/directory_record/264494/big_city_plan
When investing, put yourself in your ideal tenants shoes - would they want to live in a City with lots going on, well-connected & constantly improving itself? Yes, so Birmingham is a great choice for investing.
However, not all areas of cities are created equally & the two key areas of Birmingham we’re seeing success in currently is Digbeth & the City Centre. Both of these locations have a heavy focus in the Big City Plan & should see healthy growth over the next few years.
Interested in investing in Birmingham?
Get in touch today to discuss our latest investment opportunity in Birmingham providing investors with strong returns.
- 0113 380 8930