Investor interest in Park Central, Birmingham
Investor interest in Park Central is continuing to rise reports Crest Nicholson which has seen 28 per cent of properties sold since January 2011 purchased by investors.
The trend mirrors the latest research released by the Association of Letting Agents (ARLA), which reveals renting is more popular than ever. In the Association’s survey of Q4 2010, some 71 per cent of landlords said they felt renting was more popular now than a year ago, a rise in 36 per cent on the same time last year.
With the average age to buy a first home now 35 and a constrained mortgage market for those without a substantial deposit, Park Central’s choice of properties ranging from one bedroom apartments to three bedroom townhouses, continues to attract a broad range of tenants.
Ruth Williams, sales manager for Park Central comments: “With interest on savings producing a low return we are seeing numerous purchasers investing in properties at Park Central in order to generate a better yield. There is consistent demand for rental opportunities at the development from tenants of all ages and, as a result, Park Central is increasingly attracting investors looking to mitigate retail voids and generate long term, capital growth. Combine this with the added benefit of low interest rates and competitively priced properties at Park Central and it’s easy to see why the development is continuing to charm the investment market.”
Enjoying a prime city centre location in the heart of Birmingham, Park Central is a highly sought after development. Positioned within walking distance of the city’s central business district and mainline train stations, the development is equally popular with city professionals and those who regularly commute further afield.
The city’s youthful population (37% of Birmingham’s residents are aged under 25) combined with three leading universities and a further two university colleges, makes Park Central an equally popular choice for the student populace, with the development’s larger properties ensuring a sustainable and diverse rental community including professionals, key workers and growing families.
Park Central’s close proximity to a wide range of shopping and leisure opportunities including the Bullring and Mailbox, enables residents to make the most of a vibrant city living environment. This, coupled with the development’s own eight acres of landscaped parkland, has created a thriving new residential community in Birmingham city centre.
A range of new build properties are currently available to purchase at Park Central priced from £92,000 for a one bedroom apartment. For more information on Park Central, visit the marketing suite, which is open daily from 10am to 5pm and is located at Park Central, 2 Mason Way, Birmingham B15 2EY.
