MIDDLE EASTERN GIANT TALKS UP BIRMINGHAM PROPERTY SECTOR!
7th July 2008
Above: The future's still bright for Latitude and Birmingham city centre says global property giant Balli Group.
Middle Eastern property giant, Balli Real Estate Holdings Ltd (BREHL) believes properties in Birmingham city centre offer excellent long-term value for owner-occupiers and investors.
In light of this it has joined forces with Taylor Wimpey to develop ‘Latitude', a superior city centre development of 172 apartments and penthouses a short distance from New Street train station and the Bullring.
BREHL is the property development and investment division of the Balli Group, a large multi-billion dollar conglomerate covering commodity trading, industrial activities and real estate that has operations in 22 countries around the world. Along with promoting sales of Latitude in the UK, Balli plans to market the development through its networks in the Middle East, Asia and Europe.
David Reid, Director of BREHL comments: "We see city centre property in Birmingham as a strategic long-term investment. Birmingham is the second largest city in the UK, with a strong economy, a growing population and a beautifully regenerated city centre. For both owner occupiers and investors this city offers lots of opportunities."
Joanne Clarke, associate at selling agents Knight Frank, echoes this sentiment: "Housing demand is forecast to grow by some 11% over the next decade, due to the city's expanding workforce and student population. Also, the lower crime levels than comparable cities, good schools and improved retail provision mean more and more people are looking to become owner occupiers in the city."
‘Latitude' comprises 172 apartments and penthouses for private sale. Since its launch, 104 apartments have been sold (over 60% of the total development). High specification and stunning layouts add to the prestige of the development.
Prices start from £149,950 (£320 per sqft), which means ‘Latitude' provides excellent value for money, especially when compared to other UK cities such as Manchester, Southampton and London.
David Reid adds: "'Latitude' is ideal for either owner occupiers wanting to take advantage of the highly competitive prices, or for individual and bulk purchase investors looking to acquire units that combine outstanding value for money with strategic investment potential. Building on the sales success we've already had, we have every confidence that these units will continue to sell successfully."
Balli Real Estate Holdings has a multi-national property portfolio exceeding £1.5billion of projects under development or in the pipeline. BREHL's investment in ‘Latitude' forms part of a wider long term strategy with Taylor Wimpey plc.
ENDS