Why invest in Birmingham? Jewellery Quarter regeneration
Among the mass retail redevelopment occurring in Birmingham at the moment, the Jewellery Quarter, also home to Claremont Group’s office, is having its own revamp backed by Far East investors. This will be the third time that city developer Court Collaboration have worked with Asian investors on regeneration projects in Birmingham with plans to build 78 apartments on the car park on Legge Lane.
The £15 million project will be backed by thriving GlobalChina Capital, a group of high net-worth investors from both China and Taiwan, and is set to be made up of studios and one and two bedroom apartments. This development comes after Denise Li, the president and vice-chairman at Prosperous GlobalChina Capital visited the city in May earlier this year in order to find more out about the region and meet city council planners regarding injecting Far East cash into Birmingham’s redevelopment schemes. Ms Li noted how she was excited to use Birmingham to show Asian investors how western cities could flourish with their support. Previously, Court Collaboration have worked with Chinese investors on projects such as the regeneration of 130 Colmore Row which is now bar and restaurant Nosh & Quaff. Recent plans to convert Cadbury’s former headquarters into ‘The Franklin’ apartments, a development costing £16 million, has also been aided by Far East investment and is due to be finished next year.
Ms Li also noted how Birmingham has a lot of potential which is appealing to their foreign investors as they have an opportunity to invest in a city’s future. She stated that people in China were looking for ways to invest their money abroad and that recent modifications to Birmingham’s infrastructure such as Grand Central make the city a viable endeavour.
The Jewellery Quarter really is a gem in Birmingham’s crown and as more unused sites become available for redevelopment it is an area for investors to keep a close eye on. For more information on regeneration schemes please contact Claremont Property Group (http://www.claremontgroup.co.uk/) on +44 121 236 3310 or info@claremontpropertygroup.co.uk .
