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Birmingham is sailing through a golden decade, fuelled by the success of the Big City Plan. Both national and international investments have helped reshape the economy over the years. Birmingham continues to climb the ranks, starring as one of the top investment cities in the UK. The arrival of the HS2 has boosted the desirability of Birmingham as a place of residence and work. Alongside enhanced connectivity, the city has benefitted immensely from the Commonwealth Games.
Birmingham is truly the epitome of regeneration. It is a regeneration success story which continues to unfold. Those who own property are guaranteed to witness a significant boost in capital appreciation in the coming years and decades. However, for those still on the fence about investing in Birmingham – it is not too late! Although property prices in Birmingham may be slightly higher, the city benefits from excellent rental demand and substantial capital appreciation. Therefore, generating a healthy return on investment.
Our Future City Plan:
Birmingham City Council has officially unveiled the latest scheme: ‘Our Future City Plan (OFCP): Central Birmingham 2040’. This mammoth project will aim to remodel the city with new parks and green spaces, creating an area to unite residents. Especially during community events and festivals. During the pandemic parks and open spaces became an essential way to cope after being confined indoors. This translated through to the property market because there was a heightened demand for properties close to parks. As we work our way head into Q4, this trend continues.
The Our Future City Plan 2040 will transform Birmingham by creating an exciting, innovative, green city. The designs showcase open cultural spaces, green walkways, and tree-lined parks. The city core will reconnect to the surrounding inner city areas, enhancing accessibility. Thus, benefitting residents and working professionals. Improving connectivity will always entice working professionals and boost rental demand in any given location.
Ambitious Plans for Birmingham
‘Central Birmingham 2040′ is a plan designed to strengthen the economy of Birmingham during its incredible period of ongoing evolution. The ambitious plan encompasses six core themes for Central Birmingham 2040:
In addition to the OFCP, the council have developed the Birmingham City of Nature Plan. This plan will be delivered over the next two decades, transforming the city and gaining the status of a City of Nature. Already the city has gained recognition as one of the Tree Cities of the World, and in 2021, Birmingham was the first UK city to adopt the Urban Forest Master Plan.
Enhancing Blue Infrastructure
There are also plans to enrich connectivity across the existing canal network, the ‘blue infrastructure’. Birmingham is at the epicentre of the canal network, spanning 35 miles, making it a truly unique city, rich in history, and boasting a striking landscape. The Birmingham Canal Navigations (BCN) comprises 100 miles of canals, including the Grand Union Canal and Worcester & Birmingham Canal.
The existing routes will incorporate commercial spaces, injecting life into the surrounding areas. The schemes will create the perfect setting for retail, leisure, and office space. This will also boost job prospects in the area.
Birmingham continues to receive numerous investments from across the globe. The HS2 has broadened the pool of job opportunities, enhancing employment in the area and further afield. Once the HS2 line is complete, the service will attract many commuters travelling to and through Birmingham for work. The Midland Metro expansion and the redevelopment schemes for the Commonwealth Games have all reshaped the city. All these significant projects have positively influenced the economy and the property market.
Birmingham, the core of the Midlands, is a prime location on every property investor’s radar. Birmingham has expanded beyond its industrial roots, into a diverse and innovative hub. The UK’s Second City is definitely the place to invest if you are an investor looking to profit from high rental yields and strong capital growth. As a result of all the regeneration schemes taking place in the city, the economy is set to grow by a further 81%, reaching £59 billion by 2035.
CityRise presents the perfect off-market investment opportunity. A brand-new, high-specification development has just been launched, and investors can choose between 1, 2 and 3-bedroom apartments. Prices for apartments start at just £182,000.
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