Have you heard about the exciting changes underway in Birmingham's Smithfield district? This once-industrial area is undergoing a remarkable transformation, drawing keen interest from property investors looking for the next big opportunity. Here's why Smithfield is on the verge of becoming the UK's most compelling urban regeneration project this decade.
Formerly an industrial hub, Smithfield is now in the midst of a major overhaul, set to feature 2,000 new homes, 200,000 square feet of office space, restaurants, and hotels. Leading brands like HSBC, PwC, and Channel 4 have already secured their spaces, marking Smithfield as a rising cultural and commercial hub. Smithfield is gearing up to become one of the UK's most well-connected neighbourhoods.
A substantial investment is reshaping Smithfield Market into a cultural hub, surrounded by new homes and office spaces. Birmingham's surging property demand, coupled with excellent transport links, positions Smithfield as the city's most sought-after address. The new high speed rail network HS2 is expected to be completed from 2029 and will link Birmingham's Curzon Street Station to London with a travel time of 49-minutes.
Smithfield Birmingham is making waves in infrastructure and connectivity. With tram stops, proximity to New Street Station, and an extended Midland Metro tram line, seamless transportation is on the horizon. Road network enhancements and a direct rail link to Birmingham International Airport are further enhancing accessibility.
The city has the youngest population in Europe with 40% under the age of 25-years old and 75% under 35 years old owed partly to its graduate retention rate from its world class institutions, currently at 50%. With its young population there is an undersupply of new homes with 89,000 additional homes required to meet its growing demand. The ongoing transformation in Smithfield includes a multitude of new homes and commercial spaces, drawing in both young professionals and businesses in an aim to meet this growing demand.
Birmingham's remarkable population growth, combined with Smithfield's strategic location, guarantees high rental demand. With projections foreseeing a substantial rise in renters over the next decade and top-notch transport links, Smithfield Birmingham emerges as a prime buy-to-let hotspot.
In the grand scheme of things, what makes Smithfield an even more enticing investment destination is Birmingham's exceptional growth forecast. According to JLL, Birmingham house prices are predicted to surge by an impressive 19.2% between 2023-2027. This forecast significantly outpaces the UK average of 8.9%, making Birmingham, and by extension, Smithfield, a standout performer in the property market.
Capitalise on the Smithfield regeneration with Smithfield Works, a high-end development with prices starting from £219,995 with an initial from just £10,999.
Only 5% initial deposit + Monthly Payment Plan
Forecasted price growth of 19.2% from 2023 to 2027
Part of a massive £1.9 Billion regeneration scheme – one of the largest in Europe
Situated in a fresh residential quarter
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