Solihull set for boom town status as HS2 brings London within an hour
Solihull could be set for an unprecedented era of economic growth and rising property prices on the back of the arrival of HS2.
Elevate Property Group, the developer of the prestigious Princes Gate apartments in Solihull, has welcomed the Government’s decision to go ahead with HS2.
It brings Solihull and South East Birmingham within the magic one hour commute into London.
And according to the latest predictions from national estate agents Savills, Solihull could also be on the brink of a sustained period of house price growth.
Over the next five years, property prices in the West Midlands are expected to grow by as much as 18.2% against a national average of 15%.
David Hofton, sales and marketing director at Elevate Property Group, said: “Solihull has always been one of the most desirable areas in the West Midlands in which to live and invest and has historically outperformed the region as a whole.
“We expect investment in the areas around the Solihull borough, NEC and Birmingham International Airport to grow exponentially with the coming of HS2’s Interchange Station, which will connect to London in 38 minutes and Manchester in 37 minutes.
“Princes Gate is just 15 minutes from the site of Interchange Station and with travel times into London as low as 38 minutes and property prices as little as half those quoted in some London boroughs, Solihull suddenly looks very attractive, both to investors and to owner-occupiers.”
The UK is already seeing a surge in property sales and prices rising following the General Election and Brexit finally happening, and David Hofton is predicting a further rise in property prices in the Solihull, South-east Birmingham and North Warwickshire areas.
“Interest is definitely on the up and canny investors can see that HS2 bringing London within one hour can only help drive prices in one direction.
“This means that there has never been a better time to buy and Princes Gate is perfectly positioned to take advantage of increasing demand for quality accommodation.”
Princes Gate is now 80% sold with selling agents Smart Homes reporting ten reservations in the first six weeks of 2020, with more viewings being booked every day.
Consort House, the first phase, is now 100% sold and the remaining apartments in Royal House are selling fast.
Solihull Metropolitan Borough Council has recently given itself planning permission for Westgate, a landmark office building of Grade A space totalling 149,790 sq ft, which will be located on the corner of Station Road and Homer Road. The building will be capable of housing almost 1,400 employees.
Homer Road is also home to major employers like John Lewis, National Grid, Waitrose – all just yards from Elevate’s Princes Gate development.
Buyers at Princes Gate have also included staff working at Jaguar Land Rover in Solihull and Gymshark in Blythe Valley.
David Hofton said: “With all that is going on around Solihull – Interchange Station, the NEC, Birmingham International Airport – plus the continuing development of employment space such as Westgate and at Blythe Valley, this is all putting the borough on the UK map.
“HS2 runs in both directions and it could be a gamechanger in terms of perception, raising the image and attractiveness of Solihull, Birmingham and North Warwickshire, especially to those currently living in London looking to make a lifestyle choice.”
Smart Homes are agents for Princes Gate and can be contacted on 0121 744 4144. More details available from https://www.smart-homes.co.uk/princes-gate