- Berkeley Group announces it has sold 98% from its first release of 159 units
- Sales success has led to the firm bringing forward the second phase of its luxury Birmingham Snow Hill Wharf development to the Singapore market
FTSE 100, Berkeley Group, brought forward the second phase of its luxury 404-apartment scheme in Birmingham to the Singapore market after high demand saw 98% of first round units sold to domestic and international buyers.
The new apartments, priced from £210,000, will be officially launched at St Regis Hotel (St Regis Singapore – Senator Room, Ground Level, 29 Tanglin Road, 247911) on 26th and 27th January.
Research by Savills forecasts that mainstream property prices in the West Midlands region will rise by 19.3% over the next five years.
Delivering a much-needed supply of residential properties at the renowned Berkeley Group standard, Snow Hill Wharf will include a mix of one, two and three-bedroom apartments - offering picturesque views of the city and its growing skyline.
The latest apartments will be located in Snow Hill Wharf’s The Fazeley and The Colmore buildings – paying heritage to the development’s close proximity to the Birmingham and Fazeley Canal, as well as the iconic Colmore business district.
Tim Ridges, Head of Sales and Marketing at St Joseph, said: “Birmingham’s property market is on the rise. A growing appetite for high-quality homes in the UK’s second city has meant that the sales of Snow Hill Wharf have been exceedingly strong, with the waterside scheme attracting the attention of global buyers."
“Berkeley Group is committed to Birmingham’s continued growth and by playing a role in reshaping its residential offering, we aim to attract more people to this great city. It is a centre for high rental yields and capital growth, yet much more affordable than London, with residents on average 11% financially better off each month than those in the capital and South-East.”
Outside of living quarters, the 288,000 sq ft development also features three canal side landscaped podium gardens. Residents of the scheme will be able to access a host of amenities, including a gymnasium with a sauna and steam room, a luxury lounge and cinema room, and exclusive access to a 24/7 concierge service.
Chris Pratt, Associate Director, International Project Marketing, Savills, said: “Snow Hill Wharf Phase 1 was one of the stand out launches of 2018 and it helped to further establish Birmingham as a one of the UK’s most exciting cities for overseas direct investment."
“Following the success of Phase 1, St Joseph has brought forward the launch of Phase 2 to capitalise on the demand and sentiment for best in class product in key cities with compelling capital growth stories and strong rental demand."
“Birmingham has seen a number of multinational companies relocate their headquarters to the city and this, along with HS2, has further cemented its status with global investors.”
St Joseph is building on this market momentum and has already announced the purchase of its second site in Birmingham - a £200 million mixed-use development called Eastside Locks.
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