SALES SUCCESS AT TIMBER YARD IN BIRMINGHAM WITH SALES HITTING £70 MILLION

Birmingham development partners Galliard Homes and Apsley House Capital are pleased to announce that they have had £70 million worth of sales at their flagship apartment scheme, Timber Yard, located on Pershore Street in central Birmingham.  High demand from local and international buyers prompted the early release of the final phase of apartments at Timber Yard, with the scheme now 70% successfully forward sold.

Upon completion in 2021, Timber Yard will provide 379 apartments, with starting prices from £194,995. In just over a year since the development’s initial launch in November of 2018, 90% of the development’s East Block has sold and 40% of the development’s West Block has sold.

Galliard and Apsley highlight that the sales success of the final phase of apartments at Timber Yard is testament to the development’s location in close proximity to China Town, Gay Village and Birmingham’s City Centre. Buyers have also been impressed by the amenities on offer at Timber Yard, inclusive of concierge, a residents’ private gym, a club lounge and a screening room. The building’s concrete frame, exposed brick work and highly refined interior specifications are additionally being well received by purchasers.

The success at Timber Yard is also testament to the fact that Birmingham is currently undergoing a major regeneration programme, including the new HS2 line which will reduce the journey times to London by 40%, the city hosting the 2022 Commonwealth Games, the expansion of Midlands Metro Tram and the expansion of Birmingham City airport.

As well as these regeneration plans, purchasers are attracted to the property growth in the West Midlands. With the five-year property growth forecast for the West Midlands area being strong, buying at Timber Yard is an excellent future investment opportunity.

The joint-venture partners can also confirm that the construction of Timber Yard has made great progress since the launch of the final phase. The concrete frame for both buildings is at roof level and the external brickwork and window installation is already commenced to the lower levels of the scheme’s East Block. Construction is scheduled to complete in Q4 of 2021.

The Timber Yard development is designed around a large central landscaped garden, bordered by two statement residential buildings – the 13 storey East Block and the seven storey West Block. The development is designed by Claridge Architects, the multi award-winning RIBA-chartered practice led by Marcus Claridge, the studio specialising in contemporary design and architectural ‘elegance and simplicity.’

Located in the city’s most up and coming address where China Town and the City Centre meets, Timber Yard provides panoramic views from the upper floors of the Birmingham skyline, with the development’s apartments having floor to ceiling windows and apartments offering either balconies, terraces and winter gardens looking out onto the central landscaped garden or surrounding street scenes.

The studio, one, two- and three-bedroom apartments, including duplex residences, are complete with extensive basement car parking and an opulent reception foyer, providing residents with hotel like services.

David Galman, Sales Director at Galliard Homes says: “The success of the final phase of sales at Timber Yard has been due to the fact that Galliard Homes and Apsley House Capital have created a development which provides not only an exceptional future investment opportunity but also the highest quality homes in Birmingham at affordable prices starting from £194,995. The success of the development cements the fact that Timber Yard will be an excellent addition to the Birmingham area.”

Robin Norstrom, Director at Apsley House Capital says, “With Birmingham currently undergoing major regeneration, the city is becoming increasingly more attractive to potential purchasers. The property growth in the West Midlands and the impressive five-year property forecast have combined to create a strong demand from both UK and international buyers which has led to fantastic results at the Timber Yard development, something that we expect will continue with Birmingham’s regeneration.”

Timber Yard’s contrasting location provides apartment residents with access to a range of high street and designer shops, restaurants and theatres with the Hippodrome being just around the corner; the Chinese quarter’s Asian restaurants, cafes and shops, and the sports clubs, arts groups and cocktail bars of the Gay Village.