22 November 2018
The firm behind one of Birmingham’s newest residential developments is set to fast track the release of an additional 133 homes to market - after selling 94 per cent of its first round of apartments.
St Joseph, part of FTSE 100 property developer Berkeley Group, launched Snow Hill Wharf in August, releasing 159 one, two and three bed units from The Barker and The Lancaster – two of five buildings at its canal-side site.
With all available one-bed apartments and 90 pre cent of two-bed apartments sold in the first release, the results mark a successful entry into the Birmingham market for St Joseph.
In response to the high demand, it has brought forward its UK market launch for the second phase to 24 November, with a weekend of launch events.
The latest apartments will be located in Snow Hill Wharf’s The Fazeley and The Colmore (pictured) buildings – paying heritage to the development’s close proximity to the Birmingham and Fazeley Canal, as well as the iconic Colmore business district.
Richard Starkey, managing director at St Joseph, said: “The sales success of Snow Hill Wharf’s first phase fundamentally underpins Birmingham City Council’s commitment that St Joseph developments create communities. It's about people, identity, amenity and atmosphere.
“We identified the strength in demand for high quality homes from the Birmingham market and leveraged this by bringing a new standard of residential development to the city.
“That being said, the exceptionally high demand for this quality waterside scheme exceeded our expectations – with the development’s community focused design and amenities offering a real point of difference in the market.
“Our team has been working to pull forward more homes for sale in response to buyer appetite for St Joseph and Berkeley Group’s quality offering.”
Located in the city’s Gun Quarter, an area mapped out for residential regeneration in Birmingham City Council’s Snow Hill Masterplan, Snow Hill Wharf will consist of a total of 404 apartments.
It is estimated that the development will attract more than 700 residents, bringing in an additional £5 million annual expenditure to generate growth and prosperity the local economy in the process.
The sales performance of St Joseph’s development comes as little surprise, following figures compiled by Knight Frank ahead of its Birmingham Report, set for release on 29 November.
The data reveals a +3.4 per cent upswing in residential property prices over the last 12 months, compared to a 0.1 per cent decline in the capital.
Alongside residential space, Snow Hill Wharf will offer a double height reception lobby with 24-hour concierge, private cinema screening room, relaxing residents’ lounge, residents’ conference room and private garden conservatory meeting pods designed to create a welcome bridge between office and home.
Residents will also be able to take advantage of a private sauna, steam room and gym including state of the art equipment, space for cardio, free weights and core training.
St Joseph is building on current momentum and has already announced the purchase of its second site in Birmingham - a £200 million mixed-use development called Eastside Locks.
Both The Fazeley and The Colmore will soon be available to purchase, starting from £198,000.
Visit the Snow Hill Wharf website, to enquire or RSVP to the launch events on 24 and 25 November here.