Park Central proves the perfect match for students in Birmingham

With the new academic year under way, around 50,000 students are settling back into university life in Birmingham. And when it comes to looking ahead to where they will live throughout the 2010/11 year, or even when they graduate, one developer is helping the region’s young people experience city living to the full.

Crest Nicholson is the force behind the award-winning Park Central scheme off Bath Row in Birmingham city centre. Here a collection of contemporary apartments and townhouses are attracting parental landlords who have purchased a new property for their student son or daughter to live in while studying in the city. Likewise the new homes have also proven popular with graduates who have opted to put down roots in Birmingham when their student days are over.

Jo Parker, sales manager at Park Central, said: “The majority of students are left to find accommodation off-campus after their first year, and this search generally begins right at the beginning of the preceding academic year. While most have typically opted to live in suburban areas such as Selly Oak and Edgbaston, the last few years have seen a steady influx of students into the city centre. A rise in the development of new student accommodation in central Birmingham has been a catalyst for this; however students are also moving into new developments such as Park Central and there are several factors driving this trend.

“Parents who are disillusioned by the prospect of paying accommodation fees or rent on a second-hand property are increasingly choosing to tap into the long term potential of purchasing a new competitively-priced apartment at Park Central. In this way they can be assured that their son or daughter is living in a high quality, low maintenance home; and as the properties available are suitable for students either living alone or with a friend, there is the added benefit of generating extra rental income. When it comes to graduation time, the decision is simply to sell up or continue to act as a landlord for the next generation of students.

“Park Central has been a big hit with parental landlords for many reasons, not least as it is the only new development to deliver freehold townhouses to the marketplace. The flexible modern townhouses offer a wealth of possibilities for landlords, with designs ranging from one to four bedrooms. “

Park Central is well located for those who want to immerse themselves in Birmingham, with a host of world class facilities on the doorstep including the shops, clubs, bars and restaurants that make Birmingham a bustling city with a thriving student population. When it comes to the more serious matter of getting a degree, Five Ways train station is just across the road, with regular and quick services to the University of Birmingham. New Street train station is also a short walk away, and a wealth of bus services stop along Bath Row.

Jo Parker added: “Graduates undertaking a professional career in Birmingham have also been attracted to Park Central. A choice of high quality well-located new homes, Crest’s dedication to supporting first time buyers, and the availability of Government-backed financial assistance schemes have all contributed to a surge in buyers getting on the property ladder at Park Central. We take seriously our role in helping the city to retain its top talent and we are therefore confident this trend will continue with prices starting from £99,950 at the scheme, and the introduction of HomeBuy Direct meaning a new home can be secured with a mortgage as low as £69,965.”

HomeBuy Direct is currently available for eligible purchasers at Park Central. This popular government scheme reduces the mortgage amount needed by buyers to secure their first home. Those who have a household income of less than £60,000 can take advantage of Homebuy Direct and will benefit from the government covering up to 30 per cent of the property price with a loan. This then leaves the buyer to raise a more affordable mortgage for the remaining 70 per cent – a huge help for both first time buyers and key workers.

Park Central is the result of an innovative partnership between Crest Nicholson and joint landowners Birmingham City Council and Optima Community Association. The marketing suite is open daily from 10am to 5pm and is located at Park Central, 2 Mason Way, Birmingham B15 2EY.

Log on to parkcentral.co.uk for further details.