Birmingham development partners Galliard Homes and Apsley House Capital have achieved £70 million worth of sales at their flagship apartment scheme, Timber Yard.
Located on Pershore Street in central Birmingham, the scheme has seen high demand from local and international buyers which has prompted the early release of its final phase of apartments.
Upon completion in 2021, Timber Yard will provide 379 apartments, with starting prices from £194,995. Since the development’s initial launch in November of 2018, 90% of the development’s east block has sold out and 40% of the west block has also been sold.
Galliard and Apsley say that the sales success so far – 70% successfully forward sold – is a 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, including concierge, a residents’ private gym, a club lounge and a screening room.
This latest development comes at a time where Birmingham is 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.
The West Midlands is also attractive to investors, with the five-year property growth forecast remaining strong.
The joint-venture partners 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 2021.
Timber Yard 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 studio specialising in contemporary design and architectural ‘elegance and simplicity’.
Located in one of the city’s most up-and-coming addresses, Timber Yard provides panoramic views from the upper floors of the Birmingham skyline, with the apartments having floor-to-ceiling windows and 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 to provide residents with hotel-like services.
What’s more, the location provides residents with access to a range of shops, restaurants and theatres, with the Hippodrome being just around the corner. The Chinese quarter’s Asian restaurants, cafes and shops are nearby, and the sports clubs, art groups and cocktail bars of the Gay Village are minutes away.
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, adds: “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.”
Prices for the final phase of apartments start from £194,995 for a one-bedroom apartment. For further sales information, you can visit www.galliardhomes.com.
Galliard Homes has also launched TCRW, a landmark residential-led regeneration project fronting onto Oxford Street, and the Trilogy development in Borough.