Timber Yard first phase sold out in three days

The first phase of apartments at the Timber Yard in Southside, Birmingham, have sold out in just three days. 

Joint venture partners Galliard Homes and Apsley House Capital sold the first 100 apartments, with a combined value of £23.4 million, off-plan during the sales launch for the scheme.

Starting at £199,000, of the 100 apartments sold, 81 consisted of studio and one-bedroom apartments, with an average sales price of £215,000, with the balance consisting of two and three-bedroom apartments, which sold at prices averaging £315,000 and £382,500 respectively. Purchasers included first time buyers, young couples, parents buying for offspring, domestic investors and overseas buyers.

Galliard and Apsley are now looking at releasing the second phase of apartments in order to meet purchaser demand.

Robin Norstrom, director at Apsley House Capital, said: “As the joint venture’s first scheme to go on sale we’re really pleased with how positive the response has been from buyers. The Timber Yard has been highly anticipated and we are pleased that the entire first phase has successfully sold out during the launch. The sales demonstrate that there is occupier and investor appetite for the apartments, with Galliard’s trademark high-end specification, that the partnership is bringing to the Birmingham new homes market.”

David Galman, sales director at Galliard Homes, said: “The apartments sold for a blended average of £420 per sq ft, which represents value-for-money for both owner occupiers and investors. The launch underlines the strength of the Galliard brand has among those keen to get onto the property ladder.”

The Timber Yard is the first in a series of new homes 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 379 apartments for private sale, plus 10,000 sq ft of ground floor commercial space for retail/leisure use.

The Timber Yard will also provide residents with a range of lifestyle amenities, including a fully equipped residents’ gymnasium with changing facilities, a private club lounge, a cinema/screening room and private parking.

The development is scheduled to start on site in December with completion in Q1 2021.

Prices for the remaining apartments for sale at The Timber Yard start from £211,500. For further sales information contact either Galliard Homes on Tel: 020 3393 2016 or visit: www.galliardhomes.com or Knight Frank (Birmingham) on Tel: 0121 233 6410 or visit: www.knightfrank.com