- Birmingham house prices up 8.3% in past year (Hometrack)
- Digbeth creating a name for itself as ‘Birmingham’s Shoreditch’
- Brand new Divine Collection apartments available from £159,500 (Property Frontiers)
Digbeth, which is increasingly referred to as ‘Birmingham’s Shoreditch’, is an area on the up. Hip bars and arty coffee shops rub shoulders with independent stores and some of the funkiest clubs in the UK’s second city.
Young, creative professionals work in huge, converted warehouses where businesses ranging from performing arts companies to new media hubs feel right at home. Art meets culture meets creativity, all with a good-sized helping of retail therapy and top restaurants thrown in for good measure.
The architecture of Digbeth is reflective of the area’s creativity, with brightly coloured buildings and motivational murals creating a complex, stylish urban landscape that oozes contemporary appeal. The Custard Factory is the heart of the area’s creativity. Offering office space, shops, salons, venues for special events, films, fairs, festivals and an ‘art of the month’ initiative, the complex is packed with independent companies staffed by bright young things who work hard by day and play hard by night.
Many of those who work in Digbeth are keen to live in the area too and demand for high end, contemporary accommodation is on the up, according to Ray Withers, CEO of specialist international property investment company Property Frontiers. He comments,
“Digbeth is turning into Birmingham’s most stylish location and we’ve seen interest in rental accommodation pick up significantly there. There’s a really unique vibe to the area and always something going on. It’s so much more than a 9-5 destination, which is why so many professionals are looking to make it their home, as well as the place they work.”
In response to such keen interest, Property Frontiers has just launched The Divine Collection at St Anne’s Court, in the heart of Digbeth. The hand-picked selection of 30 apartments will offer sophisticated, elegant homes to just the kind of tenant looking for something a cut above the rest in Digbeth.
Investors in The Divine Collection apartments can look forward to strong demand from tenants, not just because of the excellent location, but also thanks to the spacious design, exclusive roof garden and luxurious fit-out. Prices begin at £159,500 for a one-bedroom apartment (investment from £47,850).
Birmingham is currently the eighth best performing city in the UK when it comes to house price growth, according to the June 2016 Hometrack UK Cities House Price Index, having enjoyed year on year growth of 8.3%. The fact that The Divine Collection is available at prices some 10% lower than neighbouring developments provides the apartments with excellent potential for capital growth over the build period (construction is already underway, with completion due in Q1 2018).
Another part of Digbeth’s appeal is the area’s location within Birmingham. Residents can reach the Bullring and Selfridges on foot in 10 minutes. City centre locations don’t get much more convenient and Digbeth is perfectly suited to those who want to live somewhere where they can have the best that Birmingham has to offer right on their doorstep.
Digbeth is also set to benefit from the huge redevelopment due to take place at Birmingham Smithfield, which adjoins Digbeth’s western border. One of the biggest single ownership redevelopment sites in the country, Birmingham Smithfield will see the city’s wholesale markets relocated to one unique, vibrant market district. The area will include a new public space (Market Square), a family leisure quarter, a vast market space and integration with Midland Metro.
Property Frontiers’ Ray Withers concludes,
“Digbeth these days feels like Deptford and Shoreditch used to – there’s a sense of excitement in the air, a feeling that the area is beginning to really define itself. It’s a great time to invest in property in an area, as many of those who bought homes in Lewisham and Hackney back when Deptford and Shoreditch were on the rise can attest. There are exciting times ahead for those who live, work and invest in Digbeth!”