Investors sought for Smethwick development
Landlords and investors are being given the opportunity to snap up the final phase of properties to be released on the new Crocketts Lane development, overlooking Victoria Park in Smethwick’s conservation zone.
haart Land and New Homes are holding an exclusive open day on site on February 15 from 3pm to 7pm for landlords and investors keen to purchase the remaining 46 houses and 16 contemporary apartments. Prospective tenants are also invited to attend. There will be an official launch for the general public on March 2.
Claire Drewett, regional sales director of the haart Land and New Homes team, said: “These fantastic properties are perfectly located as they are less than half a mile from the brand new Midland Metropolitan ‘Super’ Hospital which is due to be completed in 2022.
“It’s also a lot cheaper to live here than Birmingham city centre, yet these properties are ideal for commuters as they are just four miles and a six minute inexpensive train ride from Smethwick Rolfe Street station to Birmingham New Street.
“It makes it absolutely ideal for buy-to-let investors because it will give them a healthy yield in terms of rent, with some landlords already achieving in excess of seven per cent, at the same time providing an excellent opportunity for capital growth.”
The site is being developed jointly by Cedar Invest and BJD, whose sales director Donna Smith said: “We have sold over 100 properties on this site in the past 12 months and are now thrilled to be working with the energetic team at haart to sell the remainder by the end of this year.
“This development will increase the number of quality homes in this area which will help attract and retain skilled health sector workers servicing the new Super Hospital.
“The apartments are extremely attractive, retaining many of their original features, including exposed brickwork and four metre high ceilings, with large windows, while the houses are perfectly appointed, many with views overlooking Victoria Park and the pond. It’s a really peaceful environment.”
The site has undergone extensive regeneration, with the restoration of the Grade 2 former Sandwell College buildings, dating back to the early 20th Century, and the old Crocketts Lane Primary School, which was partially demolished. Sandwell College is now in West Bromwich following the closure of the Sandwell Campus in 2012.
Of the 93 apartments, the final 16 have now been released for sale. ‘The Brooks’ are one- and two-bed apartments in the former school, with prices starting at £127,000.
The three-bed new-build homes in the surrounding grounds are still under construction, with phase two comprised of the remaining 46 homes of the 88 on site, with prices starting at £210,000 up to £250,000 for a stunning view of Victoria Park.