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Birmingham’s property market boosted by the Commonwealth Games

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The huge, bold mechanical bull that roared into the Birmingham arena at the opening ceremony of the Commonwealth Games could be a suitable metaphor for the city’s property scene.

‘There are so many positive things that have ridden on the back of the Games taking place here,’ says Andrew Oulsnam, director of Robert Oulsnam and Company, and the owner of 11 estate agencies around the city.

‘We’re seeing lots of increased investment, with prices rising substantially over the past year and a half. The Games have given us a “feelgood factor” which I am sure will spread beyond the event itself.’

Onto a winner: Birmingham's Victoria Square before the Games. Properties in the City are 60% lower than those in London

Onto a winner: Birmingham’s Victoria Square before the Games. Properties in the City are 60% lower than those in London

Warming to his theme, he says: ‘Even now, in August, there is a change; more interest from buyers — when traditionally, the summer months are not the best time for the property market. I’m optimistic about the future.’

The shift in Birmingham’s fortunes started with the proposals for the HS2 project, which, when completed in 2033, will cut journey times to London to under an hour. This encouraged large companies such as HSBC, which has moved its UK headquarters to the city.

Since then, PwC and Goldman Sachs have followed.

International estate agents are selling properties abroad, while at the same time several infrastructure projects have transformed Birmingham into a safe, energetic and culturally diverse city — and a young one, with under-25s accounting for nearly 40 per cent of the population.

This has added to the vibrancy, and the reason why many emerging industries such as technology innovation and life sciences have started up. It is also a shoppers’ city, with 1,000 retail outlets within a 20-minute walk of the centre.

And then there are the prices. Properties in Birmingham cost 60 per cent less than those in London.

 Universally now, living in Birmingham is seen in a positive light

Estate agent Philip Jackson 

‘The pandemic meant many people working from home appreciated the importance of having some outside space,’ says Lynda Williams, branch manager at Kings Heath estate agency.

‘I have clients who moved from London, selling their small flats for typically £500,000 and getting a lovely Victorian house and garden with original features, for the same money here.’

Philip Jackson, director of Maguire Jackson, deals with city centre properties and has seen the positive impact of the Games.

‘There is no doubt that the extra attention focused on Birmingham is helping the property market.

‘The Commonwealth Games, bringing 72 teams from all over the world, is a nice step on the HS2 journey,’ he says.

‘Rental prices over the past 12 months have increased by five to ten per cent, and universally now, living in Birmingham is seen in a positive light.’

He says the famous Jewellery Quarter is like Clerkenwell in central London 20 years ago, with controlled conservation of historical buildings, giving residential property an interesting vibe.

Intriguingly, too, this is where all the medals for the Commonwealth Games were made. Philip says the typical renter is a contract worker aged 25 to 35.

At the same time, the sales market is also steadily growing inside the Jewellery Quarter, where modern warehouse conversions of one-bedroom flats are going for £185-£200,000 and two bedrooms from £220,000 to £500,000.

Ian Ward, leader of Birmingham City Council, is naturally proud of the enthusiasm and the success the Games have brought. 

One of the legacies is 1,000 new homes being built in the north of the city at Perry Barr, next to the main stadium.

‘It has cost us £184 million to put on the Games and the Government matched it three times. Now, we have levered a billion pounds of investment into the city on the back of that,’ says Mr Ward. ‘We couldn’t afford not to have them.’

On the market… in our second city 

Wharfside Street: This two bedroom penthouse is in the city centre. There is access to a residents’ gym and the building has private parking. n Fineandcountry.com, 0121 272 600 £400,000

Wharfside Street: This two bedroom penthouse is in the city centre. There is access to a residents’ gym and the building has private parking. n Fineandcountry.com, 0121 272 600 £400,000

H0dge Hill: There are three bedrooms in this semi-detached home, on the outskirts of Birmingham, which also has a conservatory and a garage. n Shipways.co.uk, 01217 210 563. £230, 000

H0dge Hill: There are three bedrooms in this semi-detached home, on the outskirts of Birmingham, which also has a conservatory and a garage. n Shipways.co.uk, 01217 210 563. £230, 000

 

Wychall Road: Following a complete renovation, this three bedroom detached house has a newly fitted kitchen/diner, bathroom and off-road parking. n Ardenestates.co.uk, 01217 217 734. £299,950

Wychall Road: Following a complete renovation, this three bedroom detached house has a newly fitted kitchen/diner, bathroom and off-road parking. n Ardenestates.co.uk, 01217 217 734. £299,950

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Tungsten and BC Partners launch €296m industrial JV (GB)

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Tungsten Properties have signed a transformative €296m (£250m) JV funding agreement with BC Partners. The newly formed joint venture company will target single and multi-let industrial opportunities across the UK, which will range from last-mile to big box logistics warehouses with a GDV of greater than €29.6m (£25m). Tungsten Properties will act as asset and development manager for the joint venture. With a strong conviction in the underlying occupational fundamentals of the industrial warehousing sector, the joint venture has already identified a strong pipeline to initially seed the partnership.

 

Jeff Penman, managing director, Tungsten Properties said:“This is a significant step in Tungsten’s expansion strategy to continue to deliver industrial and warehouse space to create growth, jobs and investor returns. This transformational JV agreement with BC Partners will provide reliable capital to continue delivering strategically located, environmentally friendly buildings across the UK. While there is volatility in the capital markets, both Tungsten and BC Partners believe that the industrial market’s long-term fundamentals remain strong. With a fighting fund behind us, we look forward to securing further opportunities.”

 

Laurian Douin, partner, BC Partners said: “The UK industrial and warehouse sector has strong secular fundamentals. Given Tungsten’s strong track record and like-minded approach to development, we are thrilled to partner with them to jointly invest in this asset class. The joint venture intends to deliver well-located, exceptional schemes to meet occupier demand, with a particular focus on schemes’ environmental credentials in-line with BC Partners Real Estate’s commitment to ESG.”

 

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Four homes for sale with swimming pools: With price tags from £1.1m to £190k

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Owning a property with a swimming pool might seem like one of life’s luxuries that is reserved for millionaires.

But, as our pick of homes for sale with swimming pools proves, you don’t have to have a multi-million pound property to have one.

That said, you may still need deep pockets for their upkeep, which can be costly, particularly if you want to keep your swimming pool heated to a comfortable temperature.

While water shortages and hosepipe bans are hitting the headlines, a pool that is already filled with water will not draw on resources but may be forbidden from being topped up by hosepipe in the case of a ban.

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Here, we take a look at four swimming pools at properties for those with a range of different budgets.

At the top end is a six-bedroom house in Ramsgate, Kent. with an acre of land that includes an outdoor swimming pool. It has a price tag of £1.1million.

At the other end is three-bedroom property in Ashington, Northumberland, with an empty indoor swimming pool and an asking price of only £190,000.

Daniel Copley, of Zoopla, said: ‘With Britain currently experiencing a heatwave, it’s no surprise that homes with swimming pools are proving to be increasingly popular.

‘Whether your budget is more in the deep or shallow end, some homes with pools may be more affordable than you think.

‘While the rise in energy bills will have a very real impact on those wanting to heat a pool, at this time of year a refreshing dip may be just what’s needed.’

Four properties with swimming pools… 

1. Six-bed house, Ramsgate, £1.1m

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

Inside the property, the entertainment facilities continue - with a cinema room that has black chairs and a red carpet

Inside the property, the entertainment facilities continue – with a cinema room that has black chairs and a red carpet

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent.

It boasts more than an acre of land that includes a large outdoor swimming pool, a patio and a pool area.

The property is called Pond Cottage and it is being sold by Miles & Barr estate agents.

2. Five-bed semi-detached house, Welling, £625k

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front.

But a slimline swimming pool has been added to the rear of the house. It is on the market for £625,000 via MS Estates.

3. Five-bed house, Ripon, £450k

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

This three-bedroom barn conversion in Ripon, North Yorkshire, boasts an indoor swimming pool and bar area.

It is on the market with a price tag of £450,000 and the sale is being handled by Solo Property Management.

4. Three-bed house, Ashington, £190k

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

The 1930s detached property has an indoor swimming pool that isn¿t currently being used because it has been left empty

The 1930s detached property has an indoor swimming pool that isn’t currently being used because it has been left empty

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools.

It is a 1930s detached property with an indoor swimming pool that isn’t currently being used as it is empty.

The property is for sale for a relatively cheap £190,000 and is being sold via Rook Matthews Sayer estate agents.

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Barwood Homes invests in Woodville resi scheme (GB)

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Harworth Group plc has completed the sale of an eight-acre land parcel at Woodville, Derbyshire to Barwood Homes for the delivery of 73 new houses. This represents Harworth’s first transaction with the Northampton-based housebuilder. The land parcel forms part of a 53-acre regeneration site which is owned by Beepart Ltd, part of Dyson Group, the Sheffield-based former manufacturer of industrial materials. Harworth is promoting the site on its behalf through a Planning Promotion Agreement. In April 2022, South Derbyshire District Council granted outline consent for the creation of up to 300 homes on the site, in addition to a c.30,000ft² local center with convenience retail and leisure amenities and over 150,000ft² of employment space for a range of uses.

 

The wider site has been unlocked by the delivery of Derbyshire County Council’s Woodville to Swadlincote Regeneration Route, which opened to traffic in December 2021, providing better access to Swadlincote and traffic relief in Woodville, as well as improved connectivity across the site. Preparation works will commence shortly for the next phases of residential and employment land sales at the development.

 

Ed Catchpole, Regional Director for Yorkshire & Central at Harworth, commented: “This sale is a fantastic start to the development at Woodville and we are pleased to welcome Barwood Homes to the site, who will deliver high-quality new housing for the local community. Our focus is now on bringing forward the rest of the development, utilising our extensive experience in the remediation of complex sites, including earthworks and infrastructure, to ready the remaining residential and employment land.”

 

Luke Simmons, Managing Director of Barwood Homes, added: “We are delighted to be working alongside Harworth on this exciting development. The team is looking forward to engaging with the local community as we gear up to deliver a scheme of excellent quality in design, build and service.”

 

Gavin Rosson, Managing Director of Dyson Group, added: “This first sale of a residential portion of the site is an important step in unlocking the full development potential of the whole, something we have been trying to achieve for many years. Such development will help regenerate Woodville and the surrounding area, somewhere we have had a presence since 1967 and are delighted to participate in.”

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