If you recall our blog post in the early days of October, you’ll remember that the Metalworks development had launched and caused quite a stir.
The project that is taking place on Warstone Lane is in its second phase of its development.
Unsurprisingly, the high demand for more residential areas in the Jewellery Quarter has led to near enough half of the apartments already being snapped up.
Forty-five out of the hundred and five apartments have gone due to the flood of enquiries for the £16,000,000 Metalworks apartment complex.
Delph Property Group, who are the developers behind the project, couldn’t be more pleased with the response the scheme has been receiving since the launch in Septemeber.
The second phase of the project compromises one-bedroom, two-bedroom and three-bedroom apartments, due for their completion in April of 2015.
Richard Forman, head of Delph sales, said: “We launched on September 27 and we have already sold 45 – the average price is around £190,000. This shows the interest there is in the scheme and the confidence. We spent many millions on the site and we need to recoup it.
“The buyers are a mixture of owner-occupiers and investors. We are aiming for 50-50 each although it is more investors at the moment. We have done about 15 owner-occupier sales. They include Colmore Row area professionals, quite young, late 20s, aspirational.”
“This is the most ambitious scheme in the Jewellery Quarter,” Forman continues. “It’s the first new-build scheme in the area since the crash. Phase One was completed in 2011 and we always hoped to do well with Metalworks so we are very pleased with it.”
He goes on to mention the number of visitations the site gains in a week (20) and the amount entering the doors.
Director at Maguire Jackson, Kathryn Malloy, commented on the Metalworks scheme: “The Metalworks development is a welcome addition to Birmingham city centre, in an area that has proved to be very popular with house hunters already.
“It’s great to see developers on the ground in such a prominent area of the city and we look forward to seeing what it set to be some very impressive apartments.”