Savills to hold M’sian launch of Birmingham development

This article first appeared in The Edge Financial Daily, on January 14, 2019.
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KUALA LUMPUR: Savills (Malaysia) Sdn Bhd will be holding the Malaysian sales launch of the second phase of Snow Hill Wharf development in Birmingham, UK on Jan 19 and 20.

Held on behalf of the Berkeley Group, the launch will take place at The Westin, Kuala Lumpur.

Units in two new blocks are on offer, prices start from £198,000 (RM1.04 million) onwards, with Knight Frank being the joint sole agent, said Savills in a statement.

Snow Hill Wharf is a luxury 404-apartment complex in the Gun Quarter of Birmingham, UK’s second largest city. The second phase of the development includes a mix of one-, two- and three-bedroom apartments, offering picturesque views of the city and its growing skyline.

Savills said that the development’s first phase enjoyed brisk sales when released last August. The units, priced £189,995 onwards, were sold out within two months upon release.

“Snow Hill Wharf has brought new levels of attention to Birmingham city’s property market and prices offer relative affordability when compared with London,” said Savills.

The company reported that average residential prices per sq ft in Birmingham currently sit between £300 and £450 — well below those recorded in London, where prices frequently move above £1,000, making Birmingham an attractive proposition for both owner-occupiers and those looking to invest.

Savills said Birmingham attracted 41.8 million visitors in 2017, and has the title of being the “youngest city in Europe” with 40% of its population under the age of 25.

Two stations of the UK high-speed rail will be in Birmingham and are set to be delivered in 2026, making the journey to London 50 minutes long, it added.