An eight-storey apartment block in Birmingham has been topped out.
Topping out works have been completed on a pioneering £34 million apartment scheme in Birmingham’s rapidly emerging Chinese Quarter.
Latitude by George Wimpey on Hurst/Bromsgrove Street is an eight storey, mixed use development on a land-locked brownfield site that will constitute 172 designer apartments and penthouses over seven different floors. With just the roof and associated structures to go, plus internal services/finishes and external streetworks, it’s on target and on budget for completion in May 2009.
The landmark building will also include some 12,000 sq ft of commercial retail space across the ground floor – for 11 retail units – aimed at attracting equally contemporary businesses to the area. This unbroken retail parade has already been purchased off-plan by West Bromwich-based property company Real Estate Investors.
Ingrid Gelley, director and general manager for Taylor Wimpey City, said: “We’re delighted to be continuing the residential expansion of this now proven target area – and it can only improve as more exclusive properties are built.
“With unrivalled transport links and close proximity to the Bullring and New Street station, it’s the perfect location for city professionals and investors.”
Paul Baxter, director for the main contractor GB Building Solutions, added: “We’re continuing our record of making sure that the projects we construct are on time and to budget.
“We have been working closely with Taylor Wimpey, Birmingham City Council, the Residents Association and local businesses to ensure that everything runs efficiently, on time and with the least disruption to the people around the site.
“The tight central location and the fact that the building goes right to the boundaries of the site means it’s very restricted for construction purposes, but we have worked together to overcome the complex logistics, for example, by closing one road and utilising land opposite.”
Taylor Wimpey’s joint venture partner on Latitude is Balli Real Estate (BREL), which is the property development and investment division of the renowned Balli Group conglomerate, and they see city centre property in Birmingham as a strategic long-term investment.
BREL director David Reid said: “Birmingham is the second largest city in the UK with a growing population, a beautifully regenerated centre, a strong economy, good schools, lower crime rates than comparable cities, plus much improved retail provision.
“Consequently, Latitude is still favourable for either owner occupiers wanting to take advantage of realistic prices, or for individual and bulk purchase investors looking to acquire units that combine good value with strategic investment potential.”
Latitude is two thirds sold and boasts a double height entry lobby with concierge.
It will comprise studios in addition to one and two bedroom layouts, many of which benefit from underground parking and glazed balconie with private outdoor space. All residents will also benefit from access to the landscaped courtyard gardens - providing an opportunity to relax and take a breather from the bustle of the city.
Ms Gelley added: “We’re confident these design-led apartments represent a solid investment because of location and the fact they’re at the forefront of this part of Birmingham’s regeneration.
“Astute young professionals see the Chinese Quarter as the new place to be, because they have some of the best bars and clubs in the city on Hurst Street, there’s the acclaimed Hippodrome, plus the fabulous restaurants and casinos of China town and the Arcadian.”
Apart from promoting sales in the UK, Balli is also marketing the development through its extensive networks in the Middle East, Asia and Europe.