All shop spaces sold at newTimberYard scheme
ALL the commercial units at a new residential development in Birmingham city centre have been sold.
Joint venture team Galliard Homes and Apsley House Capital have offloaded the nine units at its Timber Yard development in the city’s Southside district near the Hippodrome theatre.
The ground-floor units, which total 8,000 sq ft, have been bought along with ten apartments by a private investor for an undisclosed sum.
Two of the nine units have planning permission for use as restaurants with the remainder earmarked for retail.
Timber Yard, in Pershore Street, is the first development in Birmingham by Galliard Homes and Apsley House Capital and will have 379 units ranging from studios to threebedroom apartments alongside the commercial space.
It will also have a concierge
service, gym, screening room, residents’ lounge and undercroft car parking.
More than 65 per cent of the scheme is already sold, with sales totalling £61 million, and the final phase of apartments has now been released.
The development
team
is
also behind the St Paul’s Quarter project on the AE Harris factory site in the Jewellery Quarter which received planning consent earlier this month.
David Galman, sales director at Galliard Homes, said: “Southside, including the Gay and Chinese Quarters, is a culturally rich and diverse area of the city, with a thriving day and night-time economy.
“Its mix of restaurants, bars, pubs and clubs is a popular draw for residents and visitors alike.
“We fully expected the commercial element of the scheme to prove popular with retail and leisure operators who want to be part of the quarter’s ongoing success story.”
Robin Norstrom, director at Apsley House Capital, added: “The commercial units at Timber Yard are an important extension to Hurst Street, continuing the run of shops, bars and restaurants down the street and expanding this vibrant area of the city.”