During the past 10 years, the city centre in Birmingham has transformed into a successful economic hub, second only to London. For this reason, property investment in Birmingham is booming.
The appeal of city centre life is on the rise not least due to fantastic shopping facilities, excellent international cuisine and a buzzing nightlife.
Areas of affluence are emerging in the Convention and Jewellery Quarters as well as in Digbeth and surrounding areas. There’s no doubt that property prices are increasing rapidly.
£500 million regeneration plan
However, for those interested in property investment in Birmingham it’s still comfortably affordable for investors especially in Digbeth. The £500 million Birmingham Smithfield regeneration project that has recently been announced spans over 34 acres.
Delivering 1,000 residential units, 100,000 m2 of floor space and 3,000 new employment opportunities, the site is expected to benefit the local economy by £470 Gross Value Added (GVA). It will also increase visitors to the area, currently at 40 million per annum, by millions more.
This 10 year Enterprise Zone initiative plan is creative, innovative and exciting. The development of residential zones, vibrant retail markets, cultural and leisure attractions will create an exclusive destination already deemed to be one of the top 10 global locations by Rough Guides.
The development is located next to the most popular shopping area in the city. Attracting 40 million shoppers annually, it accrues £2 billion in revenue for the local economy with over 50 million travellers using New Street Station.
Integration of the Midland Metro Tram, pedestrian walkways and cycling routes will facilitate easy access to the Curzon Terminal for the proposed HS2 (high speed rail). Improvements for public transport are also planned.
Birmingham’s £500m Smithfield city development plans unveiled
Buy-to-let Investment in Birmingham
As city life becomes more popular, with many people wanting to live permanently near to where the action and all facilities are, Birmingham Smithfield at Digbeth is an ideal investment opportunity. Buy to-let investment property has always been in demand but never more so than the interest that has been shown this prime location. Off plan investment for proposed apartments is significantly high.
Huge investment is currently being negotiated with a major Taiwanese conglomerate and with super rich Chinese. To benefit from this project investors need to be decisive.
Building has begun
If you would like more information about property investment in Birmingham city centre and surrounding areas contact us today. Ere Property has offices in the UK and Hong Kong offering property investment services that are trusted by investors across the globe.
Take a look at details of investment property opportunities in Digbeth, Birmingham: https://ereproperty.com/property/enterprize-zone-birmingham/