CONSTRUCTION STARTS ON SOUTHSIDE’S NEWEST APARTMENT SCHEME
Construction of the first large-scale residential scheme for private sale in Birmingham’s Southside district for more than a decade is underway.
Cllr Ian Ward, leader of Birmingham City Council, marked the official start on site of Timber Yard, a development of 379 apartments by joint venture partners Galliard Homes and Apsley House Capital, at a ground breaking ceremony for the scheme.
Speaking at the event, Cllr Ward said: “The start on site at Timber Yard is a real statement of intent by Galliard Homes and Apsley House Capital. The Southside district of Birmingham is undergoing massive regeneration and is attracting significant investment from developers who recognise the long-term potential the area offers.
“The £1.5 billion Birmingham Smithfield project, transforming the 42-acre former wholesale market site in Southside, will deliver some 2,000 new homes, a new public square and leisure attractions over the next 15 years, through the council’s recently announced joint venture with Lendlease.
“By forging successful partnerships with developers, such as Lendlease, Galliard Homes and Apsley House Capital, we are helping to deliver the new homes the city so desperately needs.”
Stephen Conway, executive chairman of Galliard Homes, said: “We had a really positive response from buyers during the sales launch for the scheme, which not only demonstrates that there is strong demand for apartments in this up and coming area of Birmingham, but also that buyers recognise that the product we are delivering to the market is of the highest quality, yet still value for money.
“We couldn’t think of a better place than Southside, with its vibrant mix of culture, arts and entertainment venues, for our first scheme.”
Timber Yard is the first in a series of residential developments planned by Galliard Homes and Apsley House Capital in Birmingham. The 1.5-acre regeneration scheme, located on Pershore Street, and bounded by Hurst Street, Claybrook Street and Skinner Lane, comprises a mix of studio, one, two and three bedroom apartments, as well as 10,000 sq ft of ground floor commercial space for retail/leisure use.
Residents will also have use of a range of on-site lifestyle amenities, including a fully equipped gymnasium with changing facilities, a private club lounge, a cinema/screening room and private parking.
The first phase of Timber Yard was launched in October last year, with all 100 apartments, with a combined value of £23.4 million, sold off-plan in just three days. In total, 167 apartments have now been sold.
Gerard Nock, chairman of Apsley House Capital, said: “As the first development in our Birmingham portfolio to start on site this is a significant milestone for ourselves and Galliard Homes.
“We have plans to deliver 2,800 new homes across the city, with Timber Yard the first out of the blocks. As the first, it will showcase the trademark high-end specification the partnership is bringing to the new homes market in Birmingham.”
Timber Yard is scheduled for completion in 2021.
The joint venture between Galliard Homes and Apsley House Capital, which was formed in 2016 with the aim of acquiring brownfield sites in the West Midlands to provide quality mixed-use schemes, has already amassed a sizeable portfolio, with five sites in Birmingham, with a gross development value of circa £500 million.