Project Overview Birmingham
Co n t e n t s Overview 4 Birmingham 6 REGENERATION 8 site location
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target market
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our offering
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the scheme
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floor plans
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About us
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Westminster Works, Birmingham is located within the Southern Gateway £1 billion regeneration zone brought forward as part of the high-speed rail network ‘HS2’ masterplan, linking Birmingham and London. Westminster Works is an ideal base for commuters to the north and south. Westminster Works offers city living within a vibrant new neighbourhood. The area is a major development opportunity to create a new destination delivering development with the highest sustainability credentials centred around a newly created public space – Moat Square.
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HSG - Project Overview - Birmingham
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Westminster Works offers city living within a vibrant new neighbourhood
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HSG - Project Overview - Birmingham
Background Birmingham is identified by investors as a source of opportunity, with major strategic developments backed by investors from around the globe. Birmingham is rich in heritage with an established economy and excellent transport links. World-class culture, vibrant night-life, award winning dining, fantastic shopping and acclaimed architecture are all found in Birmingham. Westminster Works can be developed into 8 storeys and can accommodate 253 units within the boundary of the site. Our scheme comprises a modern appearance both internally and externally. The units will be open plan, modern Private Rental Scheme style units and configured around more attractive central entrances and access cores. There will be a sky lounge on the roof. The 253 units currently incorporated into the design have a balanced mix of 1 and 2 bed apartments. The scheme can be delivered in 2 phases, with separate accesses onto Cheapside and Alcester Street.
KE Y FAC TS • 253 apartments over 8 storeys • 1 and 2 bedroom configurations • Open plan apartments with high quality kitchens and bathrooms • Exclusive Sky Lounge access • Location within £1 billion regeneration zone • Close to HS2 high speed rail network
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The Curzon Masterplan
R e g e n e r at i o n The Big City Plan, launched in September 2010, is a 20 year vision for Birmingham’s City Centre supporting transformational change to create a world class city centre delivering sustainable growth, improved connectivity, authentic character, environmental quality, new residential communities and a diversified economic base. Covering an area of 800 hectares at the centre of the UK’s 2nd city, the BCP provides the vision, strategy and principles to guide the future development and regeneration of the City Centre. As both a physical regeneration tool and strategic planning document the Big City Plan delivers a framework that provides: • Spatial strategy for growing the City Core by over 25% through five Areas of Transformation. • Network of streets and spaces to enhance the environmental quality and walkability of the city centre. • Strategy for movement setting out how connections will be enhanced including public transport. • Flexible approach to the evolution of land uses. • Focus for the important role of heritage in future regeneration and development. • Series of proposals for creating distinct character areas (City Centre Quarters).
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KEY Masterplan boundary HS2 line and station New development block Westminster Works
Places for growth Canal River Rea
HSG - Project Overview - Birmingham
T h e C u r zo n M a s t e r p l a n i n d e ta i l The masterplan focuses on utilising High Speed Two (HS2), the proposed high speed railway, as a catalyst for growth across the Curzon area, enhancing the city centre’s existing assets (to the West) and supporting new development. These growth opportunities include: Expanding The Central Business District Home to the largest centre for the business, professional and financial services outside London with over 40,000 employees and 500 businesses. The plans for Curzon will see the district expand. The Digbeth Creative Quarter Home to leading digital media, tech and creative companies the quarter is set to expand significantly on the back of the arrival of HS2. Through the Curzon Masterplan there are clear proposals to integrate into the wider city centre and neighbouring Knowledge Hub. The Knowledge Hub Focused to the north of the HS2 station this area is home to over 20,000 students and a number of leading educational establishments including Aston University, Birmingham City University and the national college for High Speed Rail. Bringing together the research and innovation capabilities, it will provide an international leader supporting economic growth across a range of sectors. Residential Communities Creating new neighbourhoods across the Curzon area enhancing the city living offer and providing places that complement the commercial, leisure and cultural activity including homes for the future workforce.
In addition, the following neighbouring opportunities will benefit through the catalytic effect of HS2 and investment across Curzon including: • Southern Gateway A 61ha regeneration area that will see new residential neighbourhoods with over 5,000 homes delivered. Westminster Works is situated within the Southern Gateway. • Birmingham Smithfield A 14ha site delivering a new place for the city with vibrant new markets, cultural offer and family leisure and entertainment, alongside 2,000 new homes as part of an exemplar neighbourhood. The site is adjacent to the Curzon Masterplan area, and this proximity will bring new impetus and activity. A masterplan for the site was launched by the City Council in March 2016. • Snow Hill District Adjacent to the existing business district this 42ha area will see 200,000sq.m commercial and 2,000 residential units. In October 2015 the City Council adopted the Snow Hill Masterplan, setting out clear proposals, including enhanced connections to the HS2 terminus. •
East Birmingham and North Solihull Benefiting from the Midland Metro connection and proximity to the HS2 growth hubs at UK Central and Curzon. This area will be dramatically transformed with new neighbourhoods and commercial development.
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S i t e Loc at i o n So u t h e r n g at e way The Southern Gateway occupies a strategic location adjoining the Bullring and City Core retail and business area. It is in close proximity to New Street Station, Moor Street Station and the proposed terminus station for the high speed rail line.
This is an opportunity to diversify Birmingham’s leisure, retail and cultural offer, including niche retail, improved markets, family entertainment, residential and space for creative industries. Our site, Westminster Works, is located within this regeneration zone.
Bradford Street Schemes 8
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Connaught Square
in for planning at the moment by Seven Capital, decision before end 2017
S & K Building
pre-planning scheme for 527 apartments, out of planning by end Q1 2018
Trainline 15
all with planning permission, starting on site 2018
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Lunar Rise 13
in for planning permission, currently for 520 apartments start on site Q1 2018
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Park Works 11
got planning permission, start on site Q1 2018
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Bullring Trading Estate 12
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1 10 2
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6 Fabrick Square 3
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completed and fully sold and occupied
St. Anne’s Court
currently under construction and ongoing UK sales through Connells
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The Rowton Hotel 6
completed refurbishment, extension completed 2018
253 apartments in for planning, due for decision 15th January 2018
Places for People Project
acquired for medium rise mixed tenure housing, circa 800 apartments 10
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HSG - Project Overview - Birmingham
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co n n au g h t s q ua r e
The plans for Connaught Square include 940 apartments, 65,000 sq ft of commercial space and a public promenade bordering the newly revealed River Rea. The huge site features a signature 18-floor tower on the northern corner (closest to the coach station), while preserving the listed The White Swan pub at the opposite corner. Developers Seven Capital have been working with Digbethbased K4 Architects on the project and it is hoped Connaught Square will also help with providing employment opportunities alongside affordable housing for the wider Birmingham population. Without a doubt, the most appealing part of the development is bringing the hidden River Rea back into the light, to offer a riverside public walkway, including shops, restaurants and bars.
Chair of Digbeth Residents Association John Gordon echoes this point of view: “We strongly believe that the River Rea is central to the success of the development, and that the river should be visible with clear, accessible entrances celebrating the river on which Birmingham began to grow. Another positive of the development is the focus on cycling, walking and public transport, which is something myself and other members of Digbeth Residents Association noticed when meeting Seven Capital and K4 in February this year. The plans recognise how close we are to Birmingham City Centre, and that there simply isn’t the need to create 940 parking spaces to go alongside (or underneath) the development.�
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fa b r i c k s q ua r e
Fabrick Square, a major residential development in Birmingham’s creative quarter set to provide the first ever new square in this emerging ‘residential zoned’ area of Digbeth. The Bullring Shopping Centre and planned HS2 Train Terminal are within easy walking distance, whilst the new Metro station across the road will link residents to the cities thriving leisure and business districts of Broad Street and Colmore Row, providing a perfect location for people to live, work and study in Birmingham City Centre. Fabrick Square is one of the first major schemes of its kind in the area and therefore uniquely positioned to capture the emerging upswing in capital values, benefiting both investors and owner occupiers alike. This design led scheme of 313 beautifully appointed apartments are centred around a new square with a mix of loft living in the refurbished Cotton Lofts and quality new build homes in the remaining three buildings of Cotton House, The Drapery and Drapery House. This scheme is complete, fully sold and occupied.
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s t. a n n e ’ s co u r t
The development comprises 170 apartments and is located on the land behind St Anne’s Church, bordered by Bradford Street, Cheapside and Lombard Street in Digbeth. Although the apartments are small one-bedroom or studio flats in the main, it is estimated the value of the development will be more than £30m once complete. This scheme is currently under construction and UK sales are through Connells.
KE Y FAC TS • 170 apartments • £30 million scheme • Under construction
KE Y FAC TS • 313 apartments • 200 metres from the new Metro route tram stop • 10 minutes’ walk to the Bullring Shopping Centre, Coach Street • 15 minutes’ walk to HS2 and east side with five universities • Complete, fully sold and occupied
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HSG - Project Overview - Birmingham
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T h e r o w to n h ot e l
The former Paragon Hotel, now the Rowton Hotel, has seen its fair share of changes in its history. Originally built in 1903 by Lord Rowton to provide accommodation for migrant workers from Ireland, the grade II listed building became The Paragon Hotel in 1993. Given the recent developments in Digbeth, and flurry of planning applications showing confidence in the area, the current owners are preparing to invest in a multimillion pound overhaul of the hotel. Billionaire Narim El-Akabi bought The Paragon in 2013, and is now planning a 99-room extension as part of a full restoration of the hotel as a quality conference and wedding venue. The additional rooms will be added to the current 250 rooms through two four-storey extensions contained within the building’s courtyard. Phase 1 of the scheme is complete, phase 2 will be finished in 2018.
KE Y FAC TS • Multimillion pound overhaul
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LUNAR RISE
Lunar Rise is a new building development in Digbeth, Birmingham. Formerly a car dealership, the site will house 517 units and be the design focal gateway for the southernmost part of Digbeth High Street. Chinese investment bank PGC Capital has applied for planning permission to build a residential block containing a mix of 263 onebedroom, 252 two-bedroom and two three-bedroom apartments. The plans also include ground floor commercial units, parking for 153 cars and secure bike space for all residents with the possibility of an on-site cycle repair workshop also under consideration. The development will include two 10 storey blocks and one standing at 25 storeys which will be located at the intersection of High Street and Clyde Street. PGC have named the scheme Lunar Rise, after the city’s historic Lunar Society, a group of 19th century polymaths who used to meet in Birmingham on the Monday nearest to the full moon. Renault is due to vacate the site by the end of 2017 and construction is expected to start in early 2018, subject to planning consent. Architecture practice Corstorphine + Wright has designed the scheme. The Midlands is a favourite destination for Chinese investment. Like many Chinese investors, PGC is attracted by the region’s strong manufacturing core, healthy growth, central position and low costs.
• Additional 99 bedroom in four storey extension KE Y FAC TS • 517 units • Chinese investment bank PGC Capital has applied for planning permission • Multimillion pound scheme • Construction expected to start 2018
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Facts and figures...
TARGET MARKET
B IRMINGHAM
Between December 2016 and March 2017, the biggest surge in workforce jobs in the UK was in the West Midlands, at 65,000, whereas the largest decrease was in the East of England at 36,000 (ONS), more jobs will mean more of a demand for property in the area.
Birmingham is the UK’s second largest city. A thriving metropolitan centre with a growing population of over one million and economic output of over £23 billion, it is the West Midlands’ regional centre of business, retail, leisure and culture.
Managerial, professional and technical positions dominate the labour market, accounting for 39% of total employment. Birmingham also has one of the youngest, most highly qualified and most diverse workforces in the UK.
It is also the regional heart of employment with almost half a million people working in the city.
The total number of new jobs created between 2013 and 2025 is projected to be slightly above 29,000, equating to a 5.7% increase. Employment growth is forecast to be much stronger among higher skilled occupations which are expected to see a 13.5% increase by 2025. This will have positive implications for the housing market as these jobs will command higher salaries and thus improve household affordability prospects.
The city is within four hours travel time of 90% of the UK’s population and business. It is located at the hub of the UK’s motorway and rail network, and is home to Birmingham Airport, the third busiest UK airport outside of London and the South East.
Birmingham was named top choice for people leaving London in 2016 (ONS), house prices and affordability of living in the capital generally being the driving force for relocation. The initial impact of HS2 will be on Birmingham. The city is already changing fast and undergoing tremendous regeneration and development. Large employers are expanding and, in turn, not only generating more jobs but also a bigger number of higher skilled positions. Relatively low employment and housing costs compared with those of London will support expansion. Savills estimate that moving a position from central London to the West Midlands could save £8,000 pa in office property costs and £10,000 pa in staff costs. Linking Birmingham’s growing financial district and tech sector, including the flourishing creative enterprises in Digbeth, with London via HS2 adds to the attraction for both occupiers and investors enabling further growth. 14
HSG - Project Overview - Birmingham
pop u l at i o n
Employment by Occupational Group 100000
In 2016 the total population of Birmingham was over one million, split as below:: • 714,556 aged 15-64 • 235,226 children under 16
90000 80000 70000
• 142,548 65 and over
60000
The city is the youngest major city in Europe, with under 25’s accounting for nearly 40% of its population.
50000 40000 30000 20000 10000
Elementary
Process Plant & Machine
Caring & Leisure
Skilled Trade
Admin & Secretarial
Sales & Customer Service
Looking at employment by occupational group according to the Standard Occupational Classification opposite shows that Professional Occupations and Associate Professional and Technical are the biggest employing occupational groups. These are highly skilled professions.
Associate Professional & Technical
E m p loy m e n t
Professional
Median gross weekly pay for full-time workers in Birmingham in 2015 was £488.20. This figure is a 1.9% increase on 2014.
0 Managers, Directors & Senior
av e r a g e s a l a r y f i g u r e s
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westminster works
our offering
scheme overview
Oxford University predicts Birmingham needs 89,000 new homes between 2011 and 2031, the equivalent of 4,450 a year. Birmingham saw 1,810 net additional homes delivered in the year to March 2015, which leaves the city with an annual shortfall of 2,640 new homes, even before the backlog is taken into account. This shortfall could build up to at least 26,000 homes from now until HS2 is expected to start operating in 2026, by which time Oxford Economics projects that Birmingham’s 1.1 million population will have grown by 8.0%.
This scheme is a large residential development within the regeneration area of Birmingham Central, close to the proposed high-speed rail network linking Birmingham and London. The site can be developed into 8 storeys and can accommodate 253 units within the boundary of the site.
Our scheme, Westminster Works, is located in the heart of the Digbeth regeneration zone and offers quality accommodation that will appeal to the young professionals looking to relocate to the area. Apartments Number Mix 1 Bed
137
54%
2 Bed
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46%
There are 253 units currently incorporated into the design with a balanced mix of 1 and 2 bed apartments. The scheme can be delivered in 2 phases, with separate accesses onto Cheapside and Alcester Street. The units will be open plan, modern PRS style units and configured around more attractive central entrances and access cores. There will also be a sky lounge on the roof.
a pa r t m e n t s p e c i f i c at i o n s • All units meet with the new Design Space Standards • All units are wheelchair accessible • All apartments are serviced by fully maintained lifts • All units have whole-house ventilation and sprinkler system protection • High quality kitchens, bathrooms and bedrooms fitted as standard • Smart technology included as standard • Private Sky Lounge access for all residents
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HSG - Project Overview - Birmingham
a pa r t m e n t f loo r p l a n s Typ i c a l o n e b e d a n d t w o b e d
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HSG - Project Overview - Birmingham
a bo u t u s The High Street Group is one of the UK’s most successful privately owned businesses and a leading financial and property group. We operate multiple companies in property development and construction, hospitality and leisure, offering expertise and opportunities across multiple sectors. The Group’s management team have decades of experience in the financial, development and construction industries. Since its inception 10 years ago by Chairman Gary Forrest, The High Street Group of Companies has successfully developed businesses covering Financial Claims and Business & Developer Finance. We are now focusing on the growth of our large scale building and property portfolio and the long term opportunities and potential of this sector. Delivered through our property development company All Saints Living we specialise in four fundamental development sectors: Private Rental Sector schemes, traditional development, rooftop extensions and hotels. The High Street Group has expanded rapidly with unparalleled growth, now employing more than 100 people in the Head Office in Newcastle upon Tyne and across development sites in the UK. Reported profits for 2016 were £26 million. A combination of the Group’s financial strength, sector expertise and relationships create a strong position from which we can explore opportunities and create value across various sectors. THE HIGH STREET GR O U P VALUES Entrepreneurial, honest, open and professional Operating in a complex environment with integrity and trust Diversification through innovation Approachable and flexible in our thinking Keep it simple
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2nd Floor Cuthbert House, All Saints Business Centre, Newcastle upon Tyne, Tyne & Wear, NE1 2ET
info@thehighstreetgroup.com 0191 211 4120 www.thehighstreetgroup.com