Birmingham’s 2017 property hotspots
21st Century new residential and commercial property development in Birmingham is elevating the profile of large areas of the city, supporting both the ambitions of residents and businesses.
4 minutes to read
Westside
Westside originally provided large floor plate development with the regeneration of Brindleyplace in the late 1990’s. The noughties saw this trend shift to Snowhill and a disconnect in rental occurred between the two locations.
Today, the major redevelopments at Arena Central and Paradise combined with the landmark Library and Baskerville House will connect the whole of West Side to the traditional core and recent key transactions to HSBC, Network Rail and PWC demonstrate the vibrancy this location is generating.
Westside’s connectivity is continually improving with the opening up of vistas blocked by the former library, the new tram extension and soon to arrive SPRINT system. The improved access to New Street and growing local amenity are making this more attractive to occupiers and employees alike.
Snowhill District
The major area of Central Business District growth in the last cycle. Major developments and key lettings to KPMG, Barclays, AECOM, Amey, Gowling WLG and EY re-established this as a location of choice for major corporates.
As the Snowhill Masterplan begins to shape the locality with further new development at 3 Snowhill, Post and Mail and Birmingham’s ‘skyscraper zone’ this will continue to be one of the key growth areas in the city.
The improved connectivity at Snow Hill station offering train services direct to London Marylebone, the extension to the tram giving quick simple access to Wolverhampton, to the north, and New Street, to the south.
The planned Eastern Metro extension creating a direct link to Curzon Street station, the terminus for HS2 high-speed services from London and LEP & Colmore BID plans recently announced for a more pedestrian-friendly revamp of the public realm will only make this location more attractive.
Colmore Row
The traditional core of Birmingham’s professional quarter, Colmore Row was, in the last cycle, constrained by current occupiers and a lack of sites becoming available for development.
There has been a dramatic change this cycle with a number of redevelopment and refurbishment opportunities coming forward which is resulting in a vast improvement in the quality and stock and consequently occupier expectations and rental levels.
IM Property’s 55 Colmore Row, Rockspring/Sterling’s 103 Comore Row and Ardstone’s 1 Newhall Street demonstrate that this location remains very important to occupiers and absolute prime. These will continue to connect the city core from Paradise at the west and Snowhill at the east. We have also seen a huge improvement in the amenity offer.
The gentrification of the traditional core with its explosion in social dining, drinking and coffee offers and the redevelopment of the Grand Hotel has given a vibrancy and buzz whilst keeping the professional outlook.
Jewellery Quarter
The Jewellery Quarter has a wide range of residential property, combining former factories which have been converted into stylish lofts to townhouses and more conventional new build schemes.
With the increasing number of independent bars and restaurants opening in this area, and its industrial heritage being reinvented through thriving jewellery businesses and exciting start-ups, it is becoming one of the most popular places to live in the city.
The area’s connectivity has recently been augmented, with a new direct metro link to New Street Station.
Once the Eastern Metro extension is complete in 2026, there will also be a direct link to Curzon Street station, the potential terminus for HS2 high-speed services from London.
The 20 year ‘vision’ for this area of Birmingham also includes a plan to it more pedestrian-friendly, further enhancing its attraction. The Jewellery Quarter is within a 15-minute walk of Snow Hill train station.
This is arguably the area where the renaissance in ‘city-centre living’ started in Birmingham in the late 1990’s on the back of the canalside regeneration scheme Brindleyplace.
Many of the residential addresses sit along the Canal basin around Brindleyplace and The Mailbox, and there are still key residential development opportunities in this part of the city.
The arrival of HSBC’s new headquarters in Arena Central, planned for 2018, along with the redevelopment of Paradise, Birmingham’s biggest regeneration project in a generation, is only set to further enhance the desirability of this area.
The demolition of the former library in the area divided opinion, but the result has improved journeys for pedestrians through the Convention Quarter and beyond. With approximately 12 million people per year using this route as a thoroughfare, augmenting this infrastructure will help underpin values in this area of the city.
The metro extension from Centenary Square, in Westside, to New Street Station is also is also under construction, opening in 2019.
Gun Quarter
Sitting on the fringes of the Jewellery Quarter and Snow Hill, the Gun Quarter is only a short walk away from the Central Business District.
Despite being so centrally located, there is a relative price discount to some other central areas, adding to its appeal.
As the Snowhill Masterplan starts to come to fruition, this will become one of the key growth areas for residential in the city. Snow Hill station, sitting on the edge of the Gun Quarter, offers train services across the UK including the Chiltern Line service direct to London Marylebone.
In addition, the ease of access to the motorway network, via the A38, means it is an excellent location in terms of connectivity.
Contact us for more information and expertise on investing in Birmingham’s hotspots or view properties for sale in Birmingham marketed by Knight Frank or contact Knight Frank Birmingham Commercial.