Westminster Works Brochure

BIRMINGHAM WEST MIDLANDS, ENGLAND

WESTMINSTER WORKS, BIRMINGHAM

L U X U R Y R E A D Y- T O - R E N T L O F T- S T Y L E A PA R T M E N T S

WESTMINSTER WORKS, BIRMINGHAM

PRESENTING WESTMINSTER WORKS Westminster Works is a collection of luxurious, loft-style apartments in one of Birmingham city centre’s most sought-after districts, Digbeth. The prime setting, along with the superb design of the apartments set these one and two-bedroom homes apart from anything else on offer within Birmingham city centre. Westminster Works has been designed to take Birmingham city living to the next level.

Digbeth is an established favourite with property investors, thanks to its outstanding credentials as one of the most popular places to live in central Birmingham. Well connected and perfectly positioned to benefit from the city’s regeneration work, Digbeth is a creative quarter on a par with London’s Shoreditch, making it the ideal location for the stunning Westminster Works apartments.

WESTMINSTER WORKS, BIRMINGHAM

The stylish, modern design of Westminster Works pairs perfectly with the creative cultural vibe and striking architecture of Digbeth. The warehouse-inspired exterior is the ideal fit for the local neighbourhood, adding a new, contemporary twist to an already exciting district. Digbeth offers the ideal site for Westminster Works, which is tipped to be one of the city centre’s most exciting new residential developments. Residents will enjoy access to a superb range of amenities, economic opportunities and cultural pursuits.

From big name hotels to mixed use schemes and slick offices, ongoing regeneration work is creating a new vibrancy in this area of Birmingham that is serving to attract increasing numbers of residents looking to get the most out of city centre living.

The high end apartments at Westminster Works are presented alongside a range of top facilities. These include an impressive rooftop terrace, a concierge service for residents’ convenience, secure on-site parking and smart home, eco-friendly technology in every apartment. This blend of modern facilities will ensure maximum appeal to professional, urban tenants.

The expansive apartments will offer contemporary accommodation in stylish surroundings. David Phillips furniture packs ensure that residents will enjoy a superior standard of living from the moment they set foot in the door. The packs have been designed to mirror the warehouse-inspired vision of the building’s exterior, creating superb continuity and giving Westminster Works a character all of its own. They also mean that investors can benefit from the ease of this turnkey, ‘ready to rent’ offering.

WESTMINSTER WORKS, BIRMINGHAM

WESTMINSTER WORKS, BIRMINGHAM

O N L O C AT I O N The vibrant creative quarter of Birmingham, Digbeth is the go-to location for tech companies, start-ups, design firms and media businesses. The Custard Factory and Fazeley Studios also ensure the area has strong credentials when it comes to art and culture.

Westminster Works’ location in Digbeth positions it at the heart of one of Birmingham’s most exciting regeneration projects – the HS2 Curzon Street Station scheme. The HS2 masterplan includes the Southern Gateway regeneration zone, in which Westminster Works sits. This is a 61ha regeneration zone that Birmingham Smithfield will help to unlock.

Birmingham is ploughing almost £1 billion into regenerating the area around the planned HS2 Curzon Street Station, with new homes and amenities set to make the most of the new HS2 connection.

Overall, the HS2 rail network is estimated to create 26,000 new jobs in Birmingham/Solihull, bringing with it an average GVA increase of £680 per worker.

Meanwhile, the anticipated increase in annual economic output projected to result from HS2 stands at £2 billion, generating in excess of £700m in additional business rates. The Curzon investment plan will take place over 30 years, with a focus on creating several new neighbourhoods across a site of some 141 hectares. As many as 36,000 jobs will be created in total.

Birmingham is doing everything in its power to ensure a lasting legacy results from the new Curzon Street HS2 connection. So, too, are many property investors.

WESTMINSTER WORKS, BIRMINGHAM

L U X U R Y R E A D Y- T O - R E N T F U R N I T U R E PA C K S AVA I L A B L E

WESTMINSTER WORKS, BIRMINGHAM

PROPERTY HIGHLIGHTS -

Ideal city centre location to benefit from HS2

-

Rooftop terrace with excellent views

-

Capital quality specification

-

David Phillips furniture packs

-

Perfectly positioned for new Smithfield retail area

-

Experienced national developer

-

Smart technology included as standard

-

Turnkey management programme

-

Concierge service

GROSS VALUE ADDED (GVA) IS A MEASURE OF THE VALUE OF GOODS AND SERVICES

BIRMINGHAM INVESTMENT CASE

PRODUCED IN AN AREA, INDUSTRY OR SECTOR.

Nominal GVA in Birmingham rose by £1.2billion (4.8%) to £26.2 billion in 2016, with GVA per head of £23,300. GVA growth was higher than the UK average (3.7%) and that achieved by London (4.4%).

FA S T FA C T S - Birmingham is second only to London when it comes to population size - The city has more than 1.1 million residents - Productivity (GVA per hour worked) rose by 0.46% in 2015

£26.2

19.5%

billion

GVA per annum

£7.8 billion

ANNUAL GVA GROWTH - BIRMINGHAM 26bn 25bn

448,000 Workers

- Airport passenger numbers rose to 13 million in 2017 - Business positivity rose between Q3 and Q4 2017 based on Chamber of Commerce reporting

Birmingham is a vast financial and business services centre, with several strong industries:

West Midlands exports totalled £7.8 billion for Q3 2017

Average earnings (2017)

Businesses

- 63.9% employment (Q3 2017)

GVA forecast to grow 19.5% over next 10 years

£26,700 38,552

- Business startups rose 37% in 2016, with a 56.3% three-year survival rate

£274m

Distribution, transport, accommodation and food sector saw GVA grow by £274m (6.8%) in 2015

24bn

+4.3%

23bn 22bn 21bn 20bn 19bn 2010

2011

2012

2013

2014

2015

2016

The financial and business services sector is projected to grow by 4.3% (24,000 new jobs) in the five years to 2021

£178m

Finance and insurance sector saw GVA growth of £178m (8.2%) in 2015

£238m

Business services sector grew by £238m (8.2%) in 2015

£159m

Construction sector grew by £159m (11.8%) in 2015

Birmingham’s affordable space, talented workforce and excellent national and international transport links have made the city a key hub for foreign direct investment.

The city dominated the West Midlands in terms of foreign direct investment in 2016, securing 36 projects (up from 24 in 2015). Within the city, an Innovation Fund is available to support local projects.

BIRMINGHAM INVESTMENT CASE £2 million Innovation Fund to boost small to

New modern trains and 20% more capacity

medium businesses in Birmingham

to tackle overcrowding

HS2 rail network to create 26,000 new jobs

£4.4 billion fund available to deliver new and

in Birmingham/Solihull and an average GVA

improved transport links (in addition to HS2)

increase of £680 per worker Devolution deal has resulted in West Midlands metro mayor having a budget of £36.5 million

£4 billion increase in annual economic output

per year for 30 years

projected to result from HS2 Birmingham to London journey time to be cut to 49 minutes by HS2 rail network (currently 1 hour 21 mins) Birmingham to Manchester journey time to reduce to 41 mins with HS2 (currently 1 hour

POPULATION GROWTH PROJECTION 1.263m

1.25m 1.2m

1.1m

- The city’s population is expected to increase by 150,000 people over the next 16 years - Birmingham is a young city, with more people under 30 than the national average (45.7% in Birmingham compared with 39.4% nationally) and fewer people over the age of 65 (13.1% compared with 17.6% across England) - Birmingham’s population is expected to surpass 1.23 million by 2032

- Birmingham accounts for 23% of the total projected increase in

1.085m

2012

is now growing at a rate of 23,000 people per annum

destination. Visitor numbers rose by 2.5% to 39 million in 2016 households across the West Midlands over the next 5 years

1.05m 1.0m

- Birmingham’s population grew by 9% between 2001 and 2011 and

- The city has been declared the UK’s fastest growing regional tourist

1.164m

1.15m

28 mins)

BIRMINGHAM GROWTH

2022

2032

- Birmingham’s economy is projected to grow at 1.6% per annum between 2017 and 2021

SALES MARKET

4,200

Birmingham projected to need to accommodate 4,200 new households between 2017 and 2021

70.5%

70.5% of the population of the West Midlands owned their own home in 2005, while today the figure has fallen to 59.3%

7.5%

Birmingham’s house prices grew at the second fastest rate in the UK (7.5%) in the year to December 2017

-£value

Birmingham house prices recorded the greatest decrease in discounts in the UK in the year to December 2017

+%

Hometrack projects “above average house price growth” for Birmingham in 2018

29.43%

Birmingham property values up 29.43% over past 5 years.

21.7%

House prices in Birmingham are projected to grow by 21.7% in the five years to 2021 (compared to 13.1% across the UK)

R E N TA L M A R K E T

17%

24.1%

4.9%

£700+

The proportion of households renting privately across the West Midlands has grown from 8% in 2005 to 17% currently

24.1% of Birmingham residents are young professionals

Prime rental developments in Birmingham achieved an average increase in rents of 4.9% in 2016 while average rents rose by 3.2%

Lack of available rental stock is driving up rents – one-bedroom city centre apartments can typically command £700 pcm, while twobedroom apartments rent for around £900

RENTAL GROWTH FORECASTS FOR BIRMINGHAM 20.0

% RENTAL GROWTH PER ANNUM

BIRMINGHAM S A L E S & R E N TA L M A R K E T

Birmingham 5.0

UK

4.0

3.0

2.0

1.0 2017

2018

2019

2020

2021

WESTMINSTER WORKS, BIRMINGHAM

C A P I TA L Q U A L I T Y R E S I D E N C E S A R R I V E I N B I R M I N G H A M

WESTMINSTER WORKS, BIRMINGHAM

THE BIRMINGHAM PROPERTY MARKET Birmingham property prices have risen by 3.63% in the past year and by 29.52% in the past five years according to data from Zoopla. The annual price rise is comfortably ahead of the UK’s average property price increase, which Knight Frank reports to be 2.6% for the year to January 2018.

Areas such as Digbeth and the Jewellery Quarter have risen to national and even international prominence as a result of their extensive regeneration work.

In the case of Digbeth, this work is set to continue for many years, as Birmingham ensures that its quirky creative quarter continues to grow in prominence.

The 250+ homes at Westminster Works are particularly attractive to investors as a result of their prime location, luxurious finish and deposit protection bond, which ensures that investors’ deposits are protected. They form part of an ambitious masterplan for the Southern Gateway area, which will see more than 5,000 homes delivered across the area’s new residential neighbourhoods.

Between the 2001 and 2011 Censuses, Birmingham’s population grew by an impressive 9%, pushing up demand for homes considerably over the course of the decade. That demand remains strong, with Birmingham continuing to attract hard working, entrepreneurial young professionals and their families as a result of the economic opportunities that exist in the city centre. The new homes at Westminster Works are ideally placed for residents to take advantage of those opportunities, and with 80% of city centre residents in Birmingham being tenants, the apartments are sorely needed.

“A growing population, improved transport links and a step-change in amenity, careers and lifestyle has underpinned the demand for new homes in central Birmingham. With significant overseas investment in the city, plus the renewed interest of major housebuilders such as Berkeley Homes and Galliard, Birmingham is on track to become a truly global city.”

Mark Evans, Head of Regional Residential Development, Knight Frank

WESTMINSTER WORKS, BIRMINGHAM

R E G E N E R AT I O N Westminster Works offers easy access to some of Birmingham’s top amenities, including Selfridges, the Bullring and the Beorma Quarter Tower, which will become the city’s third tallest building once complete. The city’s retail core attracts more than 40 million visitors every year, who between them spend over £2 billion.

Westminster Works is also at the heart of a number of significant regeneration projects. Birmingham has spent billions on those projects, including the development of the new residential and retail Smithfield area, close to the site of Westminster Works. New Street Station has benefitted from a £770 million major redevelopment, which has turned it into a bright, modern transport hub. Used by more than 51 million people per year, it will connect to Birmingham Smithfield via a new metro link.

The Smithfield masterplan includes the provision of 51,000 new homes, 100,000 new jobs and billions of pounds worth of infrastructure. Culture, leisure and retail are all part of the comprehensive plan.

Birmingham’s Irish Quarter has also come under the regeneration spotlight in recent years, as has the Southside, which is home to the city’s vibrant theatre, entertainment and restaurant scene. Still to benefit from further regeneration is the Colmore Business District, which is home to some 500 companies. The economic heart of Birmingham, it is a major business hub that employs around 35,000 professionals.

WESTMINSTER WORKS, BIRMINGHAM

FIVE BIG MOVES Westminster Works will bring a fresh standard of elegant living to an already exciting area of Birmingham city centre. The graceful development will provide 126 one-bedroom and 94 two-bedroom apartments, catering to professionals and their families.

The latest regeneration work in Digbeth, which neighbours Birmingham Smithfield, is focused around five ‘Big Moves,’ which have bee devised to integrate Curzon Street Station into the city centre. This will ensure the HS2 connection’s position as a catalyst for regeneration, through its connectivity to Digbeth and surrounding areas, pushing Digbeth into a further period of inclusive economic growth and securing its contribution to Birmingham’s role as a world-class city.

1

Curzon Street Station - Will be a landmark building and arrival experience at Birmingham

2

Paternoster Place - A wide pedestrian bridge over the West Coast Mainline, linking into Digbeth

3

Curzon Promenade and Curzon Square

4

Station Square and Moor Street Queensway – Creating one station with pedestrian links to New Street Station and the city centre

5

Curzon Street Station Metro Stop, which will form part of the extension to the city centre into Digbeth and is expected to be operational by 2023

WESTMINSTER WORKS, BIRMINGHAM

Museum of the Jewellery Quarter

Birmingham City Hospital

0 54 A4

02 Insitute

0.5

Smithfield Market

0.5

Bordesley Station

0.5

Birmingham Hippodrome

0.7

Chinese Quarter

0.7

Selfridges

0.8

Birmingham New Street

1

Curzon Street/HS2 Station

1

Thinktank Science Museum

1

Mailbox

1.1

St Philip’s Cathedral

1.2

University College

1.5

HSBC HQ

1.5

National Sea Life Centre

1.6

Jewellery Quarter

1.7

Brindley Place

2.0

Barber Institute of Fine Arts

2.8

40

Smithfield Market A4

4

00

8

A4

7

DIGBETH St Philip’s Cathedral

Bullring & Grand Central

Curzon Street

Brindley Place

Birmingham City Airport New Street Mailbox

CHINESE QUARTER

HSBC HQ

02 Academy Institute

A456

Custard Factory

Bordesley

Five Ways The Botanical Gardens

8

0.5

Thinktank Science Museum

A3

Custard Factory

National 457 Sea LifeACentre

45

MILES

A

Destination

Birmingham University College

BIRMINGHAM

JEWELLERY QUARTER Selfridges

CONNECTIVITY

A3

A 34

Jewellery Quarter

A4

Barber Institute of Fine Arts

54

0

A

45

WESTMINSTER WORKS, BIRMINGHAM

WHY BIRMINGHAM? Birmingham is uniquely positioned to offer investors a bright future. The arrival of the HS2 high speed rail network will reduce Birmingham to London journey times to just 49 minutes. This is on top of Birmingham’s already excellent transport connections, with the recently rejuvenated New Street Station and the addition of Grand Central Station providing city centre residents with outstanding connectivity.

City planners are ambitious in their outlook when it comes to Birmingham’s future. The 2017 Crane Survey reveals that Birmingham is seeing the highest level of development for 15 years. There is a huge focus on creating office, retail, leisure and residential areas, as well as on ensuring that the city benefits from its excellent new transport connections.

The Big City Plan lays out a 20-year transformational plan for the city centre that incorporates a projected £10 billion of investment in order to create a vast new enterprise zone. The plan will oversee the creation of more than 1.5 million sqm of new floorspace and over 50,000 jobs.

Meanwhile, the UK government is supportive of businesses moving from London to Birmingham, from start-ups to major global companies.

HSBC is one of the most high-profile to do so, bringing 1,000 key staff to central Birmingham.

With both power and possibility flowing from London to Birmingham, investors and financiers are actively seeking out the UK’s most exciting enterprise zone. Greater Birmingham has made a name for itself as the leading centre for financial services in the UK outside of London. This sector contributes £15 billion annually to the local economy and is drawing professionals into the city to live and work.

WESTMINSTER WORKS, BIRMINGHAM

WA R E H O U S E I N S P I R E D D E S I G N

WESTMINSTER WORKS, BIRMINGHAM

A YOUTHFUL CITY

Westminster Works has been designed to appeal to ambitious and creative young professionals and their families. This is in keeping with Birmingham’s position of having the youngest city demographic within Europe. With five universities, and a further 20 within an hour’s reach of Greater Birmingham, the city is home to more than 65,000 students. Further education and sixth form colleges cater to tens of thousands more.

This youthful population provides Birmingham with a strong flow of graduate talent, along with plenty of energy and entrepreneurial spirit for its booming commercial offering. Startups in the city increased by 37% in 2016, according to the January 2018 Economic Update. Economic output rose by 4.8% over the same period, while productivity increased by 1.7%. As the heart of the city’s creative quarter, Digbeth is ideally placed to provide a channel for all of that creative talent and economic success.

Birmingham’s young professionals work hard and play hard. They and their families demand a lot from their city, including world-class accommodation.

Westminster Works has been designed with precisely this in mind, offering outstanding homes to Birmingham’s dynamic young entrepreneurs.

WESTMINSTER WORKS, BIRMINGHAM

A C I T Y O F C U LT U R E Birmingham is a city that is absolutely packed with cultural attractions. From the Royal Ballet to the Symphony Hall, via numerous theatres and art galleries, the city delivers an incredible package of high-end entertainment. Music, dance and film venues abound, while the city is also host to a plethora of Michelin starred restaurants.

The city also has a strong offering for sports fans, which is set to be further enhanced as a result of Birmingham’s hosting of the Commonwealth Games in 2022. The event is projected to provide a £750 million boost to Birmingham’s economy, as well as highlighting the city on the world stage.

Birmingham also offers a first-class retail experience. It is home to a Harvey Nichols and a Selfridges, as well as a huge range of shops in the iconic Bullring retail complex. A £500 million investment in the Grand Central shopping area and the stylish Mailbox shopping and restaurant destination has recently given the city’s retail scene even more of a boost.

Westminster Works residents can enjoy all this and more within just a short distance of their home, with the very best of Birmingham available to those living in such a prime location.

WESTMINSTER WORKS, BIRMINGHAM

AT T R A C T I N G AT T E N T I O N While the hosting of the Commonwealth Games will cement Birmingham’s position on the global stage, it’s fair to say that the city is already well recognised as a top UK investment destination. Indeed, the EY UK 2016 Attractiveness Survey ranked it as the third greatest recipient of foreign direct investment (FDI) in the UK. The city’s home-grown talent pool, affordable space and transport links all contribute to its success in attracting capital from overseas.

Residential property in Birmingham is certainly on many investors’ radars. Demand is rising as a result of workers relocating there from London, with companies such as HSBC and PwC, which has just taken on 100,000 square feet of commercial space in Birmingham, central to this trend. Yet while demand for housing increases, prices remain affordable, presenting investors with an excellent opportunity for strong yields.

WESTMINSTER WORKS, BIRMINGHAM

C A P I TA L Q U A L I T Y S P E C I F I C AT I O N

WESTMINSTER WORKS, BIRMINGHAM

SPE CI F I C AT ION INTERNAL FINISHES

KITCHENS

HEATING

- American white oak veneered apartment entrance doors

- Halvanto high gloss finish kitchens

- Adax slim-line electric panel heaters

- Brushed chrome ironmongery

- Handleless door and drawer fronts

- Chrome towel rails to bathrooms and en-suites

- Satinwood finish to internal skirtings and architraves

- Square-edged work surfaces with matching upstand

- Matt emulsion finish to walls and ceilings

- Integrated Indesit electric oven, ceramic hob and microwave

- Fitted blinds

- Integrated fridge-freezer and dishwasher

- Fitted wardrobes

- Stainless steel sink with monobloc mixer tap

FLOORING

BATHROOMS AND EN-SUITES

- Luxury Vinyl Tiled flooring to hallways, living areas, bathrooms and en-suites

- Ideal Standard - Concept air sanitary ware with close coupled WC

- Carpets to bedrooms

- Bristan brassware

- Double glazed patio doors (where applicable)

ELECTRICAL AND COMMUNICATION

- Shower – Bristan ‘prism dual control’ thermostatic mixer shower c/w hose and handset (en-suites only)

COMMUNAL

- LED downlights to kitchens, bathrooms and en-suites

- Glazed shower screens

- Lift access to all floors

- Pendant light fittings to bedrooms, hallways and living room

- Ceramic tiled walls to sanitary ware

- Automated door entry system

- Provision of digital TV installation - Brushed chrome sockets and switches

SAFETY AND SECURITY - Secure residents entrance - Carbon monoxide and heat detectors - Smoke detectors

EXTERNAL - Highly efficient double glazed windows

- Audio door entry system

BIRMINGHAM

We make no representation or warranty of any kind with regard to the information contained in this brochure and none of the information shall be treated as financial advice. The information is not an invitation to invest and you must rely entirely on your own investigations and due diligence before making the decision to invest. Any opinions expressed in this document are not statement of facts.