Birmingham is not only the UK’s largest city outside London, but also one of the country’s biggest financial centres. The relocation of firms such as Deutsche Bank and HSBC will increase the number of affluent professionals making their home here. The diversity of the city’s economy is supported by its exceptional connections to local, national and international destinations by road, rail and international airport. Birmingham is one of the youngest cities in Europe, with under 25 year olds accounting for 40% of the population. Home to five universities, the city is also seeing a high retention of graduates with a knock-on effect on demand for new high-quality housing.
As young professionals move out of the city to find more affordable accommodation, towns within commuting distance are increasingly becoming rental hotspots.The up-and-coming town of Cradley Heath is just 8 miles from the city. It has become a popular location to commute into Birmingham, with great schools, beautiful open spaces, a relaxed suburban atmosphere, and good transport links.
Priest House is well situated for commuters, just off the A459 Halesowen Road between Dudley and Halesowen Town Centre, near the railway and bus station and 3 miles from the major M5 motorway.The one and two bed apartments at Priest House cater to the higher end of the rental market. The units provide spacious living rooms, well-appointed kitchens with soft-closing units, comfortable bedrooms and secure entrances with automated door and video link.
Units start from £84,950, below the average price of Birmingham city centre housing. An affordable payment plan only requires 35% on exchange, followed by a 15% stage payment (plus furniture pack) and the remainder on completion (Q2 2019). Including a reservation fee of £5,000, invest with a minimum NET cash requirement of only £50,803. Rental income of 7% NET is assured for 1 year. With capital growth potential also strong, enjoy a combined ROI of 186% over 15 years, with an annualised return of 7.27%.