why birmingham brochure new design smaller

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why birmingham brochure new design smaller
Why invest in
Birmingham
City Region?
A guide from ERE Property
Introduction
English county regions
Universities
Growth in the private rented sector
Residential summary
Key facts
What is happening in Birmingham?
Midland metro
Sandwell
Key facts
Fact file
Location & connectivity
What is happening in West Bromwich?
Page 1
Page 2
Page 3
Page 4
Page 5
Page 7
Page 8
Page 9
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Page 11
Page 12
Page 13
Page 14-16
An Introduction
to Birmingham
City Region
Birmingham is a leading European business
destination at the centre of a £90bn
regional economy. The city has access to a
working population of 4.3 million people
and provides a wealth of opportunities for
companies looking to expand or invest.
Birmingham is perfectly placed for
business - with exceptional connections to
local, national and global audiences. It sits at
the heart of the UK’s road network and
boasts its own international airport with
direct flights to over 100 destinations
including in Europe, North America and
Asia.
Recognised as the best English core city in
terms of languages spoken (Cushman &
Wakefield, European Cities Monitor 2010)
Birmingham tops the ranking table in key
language subjects at higher education
institutions within a one hour drive of the
city.
Living in Birmingham
Living in the highest consistently ranking
English regional city according to the
Mercer Quality of Life Index 2014 and being
in or on the doorstop of “one of the most
exciting destinations for 2015” are just a
couple of the reasons which combine to
make setting up home in the region a
fantastic idea. The city has been
commended by Lottie Gross, from Rough
Guide who said “'From the vibrant Bull Ring
markets to the fashionable creative quarter
in Digbeth, Birmingham makes a worthy
entry in the 2015 list for its cultural variety,
excellent shopping and a buzzing live
music scene that's among the best in the
UK.”
Birmingham is a cosmopolitan, vibrant and
modern city with a cost of living 60% lower
than London and a diverse housing offer to
suit all tastes and budgets. The city is one of
Britain’s greenest with more than one fifth
of its area consisting of parks, nature
reserves, allotments, golf courses and
playing fields - many of these are linked by
rivers, watercourses and canals.
Its role as an economic hub is reflected in
its status as one of the UK’s largest financial
centres outside London and is an attractive
location for business and professional
services with a significant number of
regional and national HQs. The diversity of
the centre’s economic role is supported by
its reputation as a hub for creative
industries and as the UK’s fastest growing
place for digital media ventures.
Page 1
English county regions
Birmingham
Other districts in the West
Midlands region
Page 2
Universities
There are ten universities in
the West Midlands region,
five of these are located in
Birmingham itself; Aston,
Birmingham City,
Birmingham, University
College Birmingham and
Newman University. Aston
University and Birmingham
University achieve higher
than the UK average for 2:1
or 1st class degrees and
Aston has the highest
employability scoring of all
regional UK cities - 82% get
jobs within six months of
graduation. The region
includes three Russell Group
Universities, namely,
Birmingham University,
University of Warwick and
University of Nottingham.
1
1 - Copy taken from Seven Capital Birmingham Brochure
Page 3
Growth in the Private
Rented Sector
Between the 2001 and 2011 census the number of
households renting privately rose in the UK by 2
million to 4.3 million.
This structural shift in the housing market, which started in the early
noughties and pre-dates the credit crunch, is set to remain. It is estimated
that by 2018, one in five households, a total of 5.7 million in England, will be
renting in the private sector. This growth in the rental market is being
driven by the following factors:
Affordability
Homes are expensive relative to average earnings as incomes have not
kept pace with house price inflation - in conjunction with the cautious
approach to lending where large deposits and high costs make the average
mortgage more expensive to service than paying rent.
Demographic Pressure
The laws of supply and demand have driven strong rental growth over the
last few years. Population growth adds pressure to the shortage.
Projections by the Town and Country Planning Association (TCPA) predicts
that the number of households in England is set to rise by a fifth in the next
20 years to 27 million, creating a demand for some 245,000 homes a year.
Rental Growth
The serious imbalance between supply and demand has pushed up rents in
well connected city centres - the type of location most popular with private
renters. Savills forecasts indicate that average rents in the main stream
market will increase by 18.2% by 2017, with the greater part of that growth
delivered in 2016 and 2017.
Rental Growth Forecast - 5yr Forecast
Source Savills Research
Page 4
Residential Summary
West Midlands
The West Midlands has been identified as a property hot spot for investors
looking to cash in on the current boom in the private rented sector (PRS).
Analysis by property consultants CBRE found that out of 21 cities across the
UK, Birmingham offers landlords the highest rental yield in the whole of
England and Wales.
The National Housing Federation has commented that the housing shortage
in the West Midlands is reaching critical levels as house building fails to keep
pace with population growth and wages lag behind housing costs.
Residential Sales and
Housing Stock
The shortage of new property is making housing increasingly unaffordable
in the West Midlands and is forcing people into rented accommodation.
House prices soared 56% between 2002 and 2012, with the average home
now costing nearly nine times the average wage.
In the last year, property prices in the region have been rising faster than in
4
London boroughs Kensington and Chelsea and Savills predict that prices will
continue to rise - totalling 23.4% by 2018.5
There has also been a sharp rise in housing transactions in the West
Midlands – up 29 per cent year-on-year compared to the UK average of 19
per cent.
Residential Lettings
The rental market has never been more buoyant than it is today. Rents in the
region have risen even faster than house prices, increasing 61% between
2002 and 2012 and are set to rise another 39% by 2020, according to the
National Housing Federation.
The West Midlands, Birmingham in particular, continues to draw young
professionals and students into the region. With limited supply going into the
rental market due to the lack of new apartments being built, rents look set to
increase further as tenant demand continues to grow.
2 + 3 - National Housing Federation 4 - Birmingham mail 5 - Savills 6 - Birmingham post
City
Page 5
Birmingham
Centre
The West Midlands
region had a population
of over 5.26 million in
2011, accounting for
almost 11% of England’s
total population
Key Facts
6
140 direct
connections
from
Birmingham
Airport
The City’s 5 universities
and 4 major colleges
provide a world class
learning environment
supporting over 73,000
undergraduate and
postgraduate students
A £94 billion
regional
economy making
the city a major
In 2014 Birmingham
engine of UK
was SiteSelection’s
With £2.43 billion
growth outside of
Best to Invest,
expenditure in 2010,
London
second in Western
Birmingham remains in the
Europe after
top three most popular
Barcelona
The City has a young
places to shop in the UK for
population profile
the seventh year running.
with nearly 40%
Air, road and rail
under 24 years of
connections provide access
age and a total
to 400 million people
population of over 1
million citizens
In 2010, the
Over 98% of the
region
UK market contributed
consumer and
over 7% of the
business - are
UK’s GVA
within a 4 hour
travel time
7
6 - ONS 7 - Savills 8 - ONS
Page 7
What is Happening
in Birmingham?
Birmingham New Street Station
£600 million redevelopment.
In September 2015 the new station was opend to
the public.
Over 170,000 passengers use New street everyday.
The busiest interchange station in the UK, with a
train leaving the station every 37 seconds.
The station islinked with Grand Central, housing
the second largest John Lewis store outside of
London.
Grand Central Birmingham
£100 million of investment.
A refurbishment of the old Pallasades Shopping
Centre, situated above the New Street Station.
Over 60 stores including 15 cafés and restaurants.
Aims to attract over 50 million people per annum.
Up to 1,000 new jobs created for the people of
Birmingham.
Home to the second largest John Lewis outside of
London.
Resorts World Birmingham
£150 million integrated leisure complex.
178 four star bedrooms with 5 five star suites and
an Asian-themed spa.
Approximately 55,000 sq m over seven floors.
More than 1,100 full time jobs created after
completion.
Part of the Genting Group, one of Malaysia’s
largest multi-national corporations which has a
market capitalisation of around £25 billion and
employs over 58,000 people worldwide.
10 - Mace Group 11 + 12 - New Street: New Start 13 - Grand Central Birmingham 14 + 15 - Resort World Birmingham 16 - NEW Group
Page 8
Midland
Metro
£127 million extension completed.
Plans to extend the tram line at Curzon
Street Station to the HS2 station before
its completion in 2026.
Birmingham City Council have plans to
connect all of the city’s rail stations via
the Metro Tram Network.
20 extra trams added on to ensure that
service is fast and efficient.
HS2 could help attract 750,000 extra
passengers to Birmingham Airport,
delivering £52 million a year and 1300
jobs for the UK economy.
A package of improvements to major
routes costing £1.8 million are planned
from 2015 by Highways England over
the next five years.
HS2 facilitating easy access for new
passengers, unlocking £34m of local
revenue and 950 jobs.
HS2 will reduce the travel time from 1
hrs 24 mins to 49 mins and will shorten
the
existing
journey
time
to
Manchester by 47 mins.
1Birmingham Post, 7 Capital Why Birmingham Brochure Express and Star, Coventry Telegraph, bqlive
Page 9
Sandwell
Page 10
Key Facts
Recent and future
investment in West
Bromwich totals to
approximately
£339.9 million.
West Bromwich
makes up 24.5%
of Sandwell’s
population.
19
West Bromwich is the
largest town in
Sandwell, with a
population of 75,405
at the 2011 census.
19 - Sandwell GOV
The West Bromwich
regeneration programme
is opening more job
opportunities for the
region, along with new
leisure facilities, high
quality housing and a
wider retail offer.
Good transport links 10 minute train
journey/20 minute
drive to Birmingham
City Centre
Page 11
Investment Highlights:
FACT FILE
2 bedroom apartments priced at
£105,000
Excellent transport links
Modern fully refurbished
apartments with new furniture
packs
Prices from £139 per square foot
The Deal
The Property
The Location
West Bromwich - Birmingham City Region
This development is located close to the heart of West Bromwich, found within Birmingham’s wider city region. It’s ideally
situated for easy acess to M5 and M6 junctions, Tame Bridge railway station, and main bus routes. The Midland Metro tram
link is just a 10 minute drive away, connecting commuters to Birmingham city centre in just 14 minutes, and
Wolverhampton in 22 minutes. This area is therefore ideal for professionals who choose to commute into Birmingham and
Wolverhampton. There are a host of local amenities within walking distance from the development, as well Sandwell Valley
with it’s parks, golf course, farms, and picturesque lakes.
This development compromises fifty-five, 2 bedroomed apartments, 18 of which have en-suite bathrooms. The 6 floor
development includes under-croft parking and 2 lifts for easy accessibility. Décor is modern throughout. All of the
apartments have allocated parking and there is also additional visitor parking.
We have exculsively secured a number of 2 bedroom apartments, each including their own allocated parking space.
Retailing at £105,000 this is a fantastic hands-off investment opportunity in a region where the house prices are expected
to grow by more than 20% in next 5 years. Recent sold comparable show that smaller 2 bed apartments in the surrounding
area have achieved up to £120,000 on the open market. There are also a lack of similar quality developments in the area
which will be of benefit should investors decide to resell.
[email protected]
www.ereproperty.com
+44 (0) 113 380 8930
Location &
Connectivity
This development is ideally located close to West Bromwich and Birmingham. The two main rail
stations are Midland Metro and Tame Bridge railway station, both with direct routes into
Birmingham. With the M6 only a 4 minute drive away and the M5 an 11 minute drive away,
transport links to the rest of the country are easily accessible.
Due to a number of different transport options the city centre can be accessed by car, train or the
Midland Metro in less than 30 minutes 2014 saw the arrival of a new fleet of 20 trams, each with
a capacity of 200, meaning that more people can commute more efficiently, quickly and
comfortably.
‘Work to extend the Midland Metro into Birmingham City Centre has started. When the extension
opens in 2015, it will greatly improve links between the Black Country and central Birmingham by
linking to the National Rail network at Birmingham Gateway - New Street. It is expected to deliver
£50m per annum to the region's economy and create around 1,500 jobs.’
20
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Site connection times:
4 minutes drive to the M6
4 minutes drive to Tame Bridge train station (then 18 minutes via train to Birmingham
New Street)
5 minutes drive to the Hospital
19 minutes drive to Bimingham City Centre
13 minutes drive to West Brom’s central Tram station (then 14 minutes via Snow Hill
Station, Central Birmingham)
20 - Centro
Page 13
What is Happening in
West Bromwich?
Urban 180
£20 million project.
Located between Bull Street, High Street and
Overend Street in the town centre.
A mixed-use development, providing West Brom
town centre with high quality, affordable homes,
office space and rental units.
Phase 3 began work in May 2015 and this next
phase of the project will see more new homes and
office space built in the heart of West Bromwich.
This next phase in the project plan is set to be
completed by autumn 2016.
Queen’s Square Shopping
2012 granted planning to modernise Queen’s
Square shopping centre.
Refurbishment work included a new main High
Street entrance and improved malls and
completed in autumn 2014.
Refurbishment will improve links between town
centre retail areas for shoppers and will improve
the access to public transport.
Nearly £7 million, including a £3 million
contribution by Sandwell Council, has been
invested to improve the shopping centre in the
coming years.
New Square Development
Opened on July 2013 – Tesco, Next, JD Sports,
Bank, Outfit, Deichmann and Phones 4 U, along
with a five screen Odeon cinema, restaurants and
cafes including Prezzo, Harvester, Costa and
Nandos.
New Square development:
o £200 million of investment for the town
o Created 2,000 jobs
o Brings evening economy to the town
o Turn West Brom into a visitor destination
Includes plans for a new hotel.
21 - Sandwell Council 22, 23 & 24 - All bullet points from Sandwell GOV
Page 14
Major Road improvements for West Bromwich
£25 million project - designed to speed up traffic along
the dual carriage way running from the M5 Junction 1
motorway.
Increased the capacity of the junction from 70,000 to
115,000 vehicles each day.
Improved access into West Bromwich town centre
Reduced delays and congestion on the A41.
Has improved bus services.
It has increased pedestrian and cycle links to West
Bromwich town centre as it has created safer and
much more convenient routes.
Sandwell College Campus
Up to 10,000 young people and adults will study at
Sandwell College’s new campus on Spon Lane
£12.5 million leisure centre and swimming pool.
Close to all major transport links.
Facilities include:
o
Automotive Centre
o
Beauty and hairdressing salons
o
Computer suites
o
Engineering laboratories
o
Fashion and photography studios
£77 million building.
Completed in February 2012.
The new central campus:
o
Adds on iconic building to the town centre
o
Attracts thousands of new students
Providence Place office development
Next to one of the main routes into West Bromwich
and is expected to create tens of millions of pounds
in new investment.
Create hundreds of new jobs which involve lots of
different skills.
Additional office buildings will be built as part of the
Providence Place development.
Additional office buildings at Providence Place will:
Provide up to 170,000 square feet of office
accommodation for West Bromwich.
Generate £80 million in new investment.
Create hundreds of new jobs and training
opportunities.
Page 15
25, 26 & 27 - All bullet points from Sandwell GOV
New West Bromwich Leisure Centre
Partnership between DC Leisure and Pellikaan
Construction & once the centre is built it will be run
by Places for People Ltd.
£12.5 million leisure centre and swimming pool.
The centre opened on 2nd June 2014.
Located on the corner of Moor Street and Barton
Street in West Bromwich.
Expected to welcome 60,000 visitors per year, with
100 new jobs created.
Facilities Include:
o 25m pool with a learner pool
o Sauna and steam room
o Four-court sports hall
o 100 station fitness suite
o Two dance studios & activity rooms
o Indoor adventure play centre for children
o Café
Metro Plaza - New Development
£8.2 million project aims to increase footfall on the
high street
Metro Plaza is an innovative scheme to improve
links to the town's shopping areas for commuters.
The council and partners won funding of £4.1 million
from the European Regional Development Fund
(ERDF) in April 2011 to match their own
contributions.
The project has joined up areas around the town
centre including a £200m Tesco development,
Providence Place office block, Sandwell College and
Dartmouth Park.
The project has transformed the face of the town
centre and will include a public square, sculptures
and greenery as well as new paving, seating, bins,
lighting and trees.
Page 16
28 & 29 - All bullet points from Sandwell GOV
+44 (0) 113 380 8930
17 Park Place
Leeds
LS12SJ
www.ereproperty.com
[email protected]