Investment in Birmingham steps up a gear to make it the next buy-to-let hotspot.
The city recently named ‘the most rapidly-improving location in the UK’.
Host city for the 2022 Commonwealth Games and a major transport hub, with new infrastructure including extension of the metro tram network, renovation of New Street station and HS2, making London a 49-minute commute.
Hotspots beyond traditional London commuter locations have already benefited from infrastructure improvements. The upgrade of Birmingham New Street, for example, has seen a 33% increase in passenger use since 2015, while house prices within 2km of the station have increased by 44% over the past five years.
Ahead of HS2 at Curzon Street station, there has been significant investment in the regeneration of Birmingham city centre. This has fuelled commercial investment from companies such as Deutsche Bank and HSBC, and has helped to support residential demand and subsequent house price growth.
Source: Savills Research 5th March 2018
Birmingham has an impressive track record of investing in its future.
The £600 million redevelopment of New Street rail station will complete this year, while the transformation of its retail scene – which includes the Mailbox, Grand Central, Selfridges and John Lewis – will drastically improve what the city has to offer. Birmingham Smithfield presents a once in a generation opportunity to build upon our recent successes and deliver a truly unique asset for the city. Our plans for Birmingham Smithfield will create a vibrant new destination – adding to the city’s reputation as a top visitor destination and a great place to live and do business. Said: Sir Albert Bore, Leader of Birmingham City Council.
Smithfield development – a government initiative to redevelop 14 hectares at the heart of the city centre into a retail, leisure and cultural hub including 2,000 new homes. This proposed £500 million project will have its own tram stop, a major shopping area and the Curzon HS2 terminus on its doorstep, as well as 2,000 new homes.