Prosperity Wealth

Severn House

Birmingham City Centre

Overview

Just across the street from Severn House is The Mailbox. The iconic red building is home to the BBC as well as a flagship Harvey Nichols store. The area hosts a range of high end fashion retailers as well as spa and relaxation facilities and a great collection of canal side bars and restaurants.

The business district and canal-side favourite Brindley Place are all easily accessible by foot. Bars, restaurants and entertainment venues are in abundance making Severn House the ultimate living choice for young professionals. This desirable area of the city attracts investors, and tourists alike, with apartment developments attracting higher than average rents.

Key points

  • Property type:
    Residential new build
  • Location:
    Birmingham City Centre
  • Units available:
    Sold Out (30 apartments)
  • Guide price:
    £204,995 - £399,995
  • Predicted yield:
    8%

Status: Planning granted

Estimated completion: Q3 2021

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It's all about the location

Next door to the Mailbox is the building described as ‘Birmingham’s Landmark’. The Cube is home to IBI Group and Solictors Regulation Authority, as well as a spa and several high class restaurants including Marco Pierre White’s Steakhouse, with its 360 city views from the top floor. The picturesque and historic canal offers quick and easy walking and cycle routes to the rest of the city, as well as connecting other areas such as The University of Birmingham and Edgbaston.

Transport Links 01

Transport Links

At the heart of the UK's road network Birmingham is extremely well connected. The international airport offers direct flights around the world, plus the planned high speed rail link (HS2) will bring the capital even closer.

02

Business Investment

Leading European business hub with a regional economy of over £90 billion. The city is home to more than 32,000 companies, including nearly 700 international firms.

Business Investment
Shopping & Lifestyle 03

Shopping & Lifestyle

The city centre offers a world-class retail experience with the Bullring, Grand Central and the Mailbox all offering high quality shopping, eating and drinking.

04

Bars & Restaurants

The culturally diverse city makes eating out like a gastronomic tour of the world. With no less than four Michelin Star restaurants and plenty of others excellent choices to tempt, you really will be spoiled for choice.

Bars & Restaurants
Education 05

Education

With six major universities, a host of colleges and award winning schools, the educational future of Birmingham is bright. Over 73,000 UK and overseas students are choosing the city as their place to study and build their careers.

06

Property Market

With the youngest population in Europe, Birmingham's transformation into a cosmopolitan city has ensured that property prices remain at a premium and rental demand continues to outstrip supply.

Property Market
Culture & Heritage 07

Culture & Heritage

Birmingham is a vibrant and creative city. Major cultural institutions include Symphony Hall, The Hippodrome, home to Birmingham Royal Ballet, the Birmingham Repertory Theatre and an award winning new library.

08

Green Spaces

Birmingham is home to 571 parks, more than any other European city, they total over 14 square miles of open space. Sutton Park is a national nature reserve that covers over 2,400 acres in the north of the city, it is the largest urban park in Europe.

Green Spaces

The property & investment

All homes will offer contemporary open plan living and dining space with oversized windows (where possible) ensuring maximum natural light.

With hardwood veneer floors and stainless steel sockets throughout these high grade specifications combined with custom built kitchens, integral appliances and stylish bathroom designs come as standard for Prosperity clients, offering a home with style, luxury and comfort.

Payment plans

Monthly & Mortgage Plan

Representative of 1 Bedroom Apartment
Payment plan provided is correct at the time of development launch

Purchase Price: £204,995
Reservation Deposit: £10,249.75 plus £850 legal fees
30% Deposit: 24 x £2,562.44
70% Mortgage arranged on completion
Mortgage then covered by rental income from completion
You own an income producing asset for life.

Estimated gross rental income £1,200 per month / £14,400 per year
Estimated gross rental yield 7.02%

Monthly & Mortgage Plan

Representative of 2 Bedroom Apartment
Payment plan provided is correct at the time of development launch

Purchase Price: £297,995
Reservation Deposit: £14,899.75 plus £850 legal fees
30% Deposit: 24 x £3,724.94
70% Mortgage arranged on completion
Mortgage then covered by rental income from completion
You own an income producing asset for life.

Estimated gross rental income £2,000 per month / £24,000 per year
Estimated gross rental yield 8.05%

The latest Development updates

Severn House Site Update

  • The main design and build contractor has been appointed under a Letter of Intent to progress the mobilisation works and design
  • The JCT Design & Build contract is being progressed by respective legal teams and will in executed by the end of May / early June prior to the commencement of the works on site
  • The foundation designs are complete and the final main frame construction drawings are being finalised
  • The contractor has applied for all the necessary consents, road closures, demolition notices and temporary utilities to allow for a targeted commencement of the works on site in early June 2020

Severn House Site Update

  • Contractor appointed to carry out the project
  • Finalising party wall agreements and development specifications received from architects
  • Due to the impact of COVID-19, demolition work scheduled to commence in June/July 2020

Severn House Site Update

  • Final external designs and façade signed off by Birmingham City Council
  • Leasehold approved by the council – based on this contracts will be issued pre-Christmas
  • Upgraded kitchen and bathroom specifications approved
  • Final contractor negotiations underway, this has taken slightly longer than anticipated due to the numerous methods of construction possible for the building

Front elevation CGI for Severn House

Detailed design CGI for Severn House

Severn House Site Update

  • Final design work required to commence work onsite has now been completed
  • Final demolition works instructed
  • Contractor anticipated onsite before end of the year

CGI image of Severn House

Severn House Site Update

  • Full planning application for 30 units was submitted in Q4 2017
  • Planning application number 2017/10465/PA
  • Birmingham City Council requested a change to the split of apartments in favour of 2 bedrooms. A new scheme was submitted in Q2 2018

Severn House Site Update

  • Full planning approval granted for 30 residential apartments
  • Planning application number 2017/10465/PA
  • Detailed design works to commence shortly

Planning approved

Severn Street Site Update

  • Planning application was submitted in December 2017
  • Application decision anticipated in Q2 2018
  • You can view details of the registered application by visiting Birmingham City Council’s planning portal and entering the reference number 2017/10465/PA
  • Visit Birmingham City Council’s Planning Portal – click here

Planning application submitted

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