Pictured: Hive's sales advisor Maria Pownall
Developer Nikal has reported a surge of summer activity at its
Hive development in Birmingham city centre.
The popular apartment scheme as bucked the traditional summer
slowdown with 15 properties reserved since June. Properties
have been snapped up at the Eastside development by a majority of
owner occupiers including a local university lecturer, a banker and
three doctors. Interest from investors is also on the rise
with purchasers reporting immediate occupancy of properties and
tenants keen to sign long term leases.
Purchaser Sally Boughen from South Yorkshire chose to make Hive
her first property investment after recognising its unique
proposition:
"I was looking for an investment in an up and coming location
and found exactly that at Hive," commented Sally. "The development
looks great and is in a fantastic location in an area of the city
centre which is really starting to come into its own. I
wanted a property that was new and that would easily attract
tenants and with Hive being located so close to both the city
centre business community and numerous educational facilities I
have absolutely no concerns about rental voids.
"The building's secret garden is starting to take shape and with
the City Park and new High Speed 2 terminal both close by, I think
Eastside has massive potential. I'm really happy with the one
bedroom apartment that I purchased and am confident it will reap
dividends in both the short and long term."
Part of the wider £600m mixed-use Masshouse scheme in
Birmingham's Eastside, Hive brings an exciting and innovative new
collection of studio suites, one and two bedroom apartments to the
city centre. A choice of studio suite and one bedroom apartments
are currently available with prices starting from £90,000.
Properties are ready for immediate occupation and benefit from a
prime Eastside location within walking distance of the Bullring,
High Street, Colmore Business District and universities in the
vicinity.
Simon James, Sales Director for Hive commented: "We are
delighted with the success that Hive has had, particularly as it is
the first residential development to be launched to the market in
Eastside. The development has attracted a lot of attention
and astute purchasers such as Sally are clearly recognising not
only the quality of the development but also the area's future
potential. With recent confirmation that Masshouse will be
within the new city centre Enterprise Zone we expect to see
increased demand for homes in and around the Zone and, as such,
those who bought early at Hive could soon be reaping the
benefits."
Mark Evans, partner at Knight Frank Birmingham added: "Nikal
took an ambitious risk in building the first residential
developments in Eastside at Masshouse and Hive and it is one that
has proven to be very shrewd. Hive's second phase launched to
the market in difficult conditions early this year but that hasn't
detracted buyers from recognising its position within a rapidly
improving side of the city that is soon to be home to the
Enterprise Zone, HS2, the City Park and new education facilities.
No doubt other developers will follow Nikal's lead here but
for the moment Hive is the only new build residential scheme in
Eastside and a rare property opportunity not to be
missed."
Kick started through funding from the Homes and Communities
Agency, Hive has triumphed over difficult market conditions,
delivering stylish new apartment that are also highly innovative.
All properties at the development are powered by Birmingham
District Energy Company (BDEC) - the first time residential homes
in the city have benefitted from the city's district water heating
system, saving an estimated 92 per cent of CO2 emissions and
reducing residents' hot water and heating bills by around 30 per
cent.