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Birmingham is the UK’s second city situated in central England boasting a population in excess of 1.2Mil people. Its importance to the UK economy has always been high but since the cities unprecedented regeneration & development city centre master plan was approved and signed off on, it’s importance has been elevated even further.
The story for Investing in Birmingham is extremely compelling especially when you realise that it is underpinned by fundamental economic principles and huge amounts of inward investment. In part, it is for this reason why investors are turning away from London and focusing their attentions on Birmingham.
UK property investment has always been a favourite with international investors due to the UKs favourable taxation laws and strong legal framework. However, where once the money flowed predominantly into London, it is now being slowly diverted away.
Birmingham has now surpassed the UK’s capital for property investment. Price Waterhouse Cooper (PwC), in a recent study, named Birmingham as one of the most popular property investment hot spots in all of Europe. Tens of Billions of USD$ in fresh investment to Birmingham’s commercial, retail, residential and infrastructure projects continues to flow in.
A major reason for this huge inflow of investment is due to Birmingham’s ambitious and forward thinking Big City Master Plan. It is the most far reaching city development project ever undertaken in the UK.
The aim of the Birmingham project is to turn it into a world class international city with state of the art; infrastructure, grade A office space, new inner city housing projects, arts and culture, social diversity, increased international airport routes, 5G wifi and much, much more.
With a current economy valued in excess of £24.8 billion (circa USD$32.5Bln), Birmingham is already a proven regional economic powerhouse, the biggest outside of London.
Prominent blue chips such as; HSBC, Deutsche Bank, PwC, Bank of England and UK Govt Agencies such as HMRC (tax Office) have committed to relocating their head offices to Birmingham. There are many more to follow.
The UK’s London/Birmingham HS2 railway link is confirmed. It’s Europe’s largest infrastructure railway project, worth in excess of £56 billion (circa USD$ 72Bln). Birmingham’s city centre hub is scheduled for completion by 2026. Travel times between Birmingham and London, the UK’s top two economic powerhouses, will be slashed to just 45mins,
Not withstanding HS2 investment, a further £750m (circa USD$975m) is to be invested into Birmingham’s city centre Metro-link and regional railway network.
What further underpins the Birmingham Investment story is the fact that the employment pool from which all of the Blue Chips and new business ventures can draw, is young and educated. Under 25’s account for 40% of its population, the youngest of any major city across Europe.
Birmingham has 5 universities, housing over 73,000 UK & Overseas students, with the largest student post graduate retention rate across the UK, second only to London. The need for increased housing demand for a growing youthful populous is obvious, and is helping to drive an influx of property investment.
Simon Mobley, Managing Director of Edifice Invest Ltd, a well respected figure in both the international and local Birmingham property markets, explains “What we have in Birmingham is very unique within the UK. Blue-Chip Head Offices are flocking to Birmingham as a serious alternative to London. You only have to look to the decisions made by HSBC, Deutsche Bank, The Bank of England, PwC to relocate huge portions of their operations to Birmingham, to see evidence of that.
Simon went on to explain, “Birmingham’s housing stock just isn’t in a position to cope right now and is being outstripped by demand. We need a hell of a lot more housing stock to cope with the influx of people. The good news is, it’s being built. For the investor, Birmingham is prime territory”
To learn more about property investment in Birmingham visit the Edifice Invest website: http://www.edificeinvest.com
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