GVA is inviting offers for the purchase of a residential development site, which could bring 170 new homes to Digbeth.
Construction has started at St Annes Court, a 1.19-acre site situated on Lombard Street, which has planning permission in place for a five storey building accommodating one and two-bedroom apartments, ground floor retail space and associated car parking.
77 of the apartments had buyers off-plan before the developer fell into administration.
Digbeth has gained a reputation as Birmingham’s ‘Creative Quarter’ and has benefitted from huge redevelopment in recent years, after being earmarked as one of the key areas for regeneration in Birmingham City Council’s Big City Plan.
The area’s rich industrial heritage, combined with its proximity to high-quality amenities such as the Bullring, the Custard Factory, New Street Station and a number of popular restaurants and bars, has quickly transformed the district into one of the most sought after areas for prospective buyers in the city.
Mark Birks, GVA, said: “Digbeth has become a property hotspot within Birmingham and this is a great opportunity to purchase a part-complete development in an excellent location close to the city centre.
“It is incredibly popular with young professionals and first-time buyers looking to experience city centre living in a lively neighbourhood, and investors looking to take advantage of good rental yields.
“Digbeth is set to benefit from considerable investment in infrastructure, and the scheme’s proximity to the proposed HS2 Hub and metro extension will be of significant benefit to residents, and as such we’re anticipating high levels of interest in the site.”
Simon Plant, Director at Nationwide Insolvency Practitioners and joint administrators, SFP, said: “Following the administration of the original developers, the site was mothballed for safety and security purposes.
“We have assisted creditors by returning their goods where possible, and continued with a legal review to ascertain the rights of certain creditors. Updates have also been provided to secured creditors and deposit holders, and statutory reports have been released.
“As part of the marketing of the site for sale, considerable time has been spent reviewing and gathering data to create an information pack for prospective purchasers.”
The site is being marketed by GVA’s Land and Development team, which provides a number of services including advice on land sales and acquisition, viability modelling and testing and negotiations with planning authorities and developers.
For more information contact Mark Birks, GVA, on 0121 609 8463 or by emailing: mark.birks@gva.co.uk.
