The Jewellery Quarter in Birmingham is a vibrant district that beautifully blends historical charm with modern living. The area has seen significant redevelopment in recent years, transforming old buildings into contemporary homes. The blog post below will detail the key reasons the property investment spotlight shines so bright on the Jewellery Quarter in Birmingham.
1. Rich History and Unique Architecture
The Jewellery Quarter is steeped in over 250 years of history, making it one of Birmingham’s most iconic areas. The beautiful Georgian and Victorian architecture provides a unique character that is hard to find elsewhere.
Many properties are converted from old factories, offering unique living spaces that blend historic charm with modern amenities. Features of these properties typically include lofty ceilings, unique floor plans, vast grid pattern warehouse-style windows and touches of the past like exposed wooden beams and ornate crown moulding.
2. Central Location and Excellent Connectivity
Located just a 15-minute walk from Birmingham city center and with the M6 motorway only a short drive away, the Jewellery Quarter offers excellent connectivity. This strategic location is ideal for commuters and ensures easy access to major transport routes, making it a convenient base for both work and leisure.
3. Vibrant Community and Lifestyle
The Jewellery Quarter boasts a lively atmosphere, enhanced by numerous events and festivals throughout the year. Most notably these are:
1. The annual Jewellery Quarter Festival
This festival showcases local businesses, artists, and musicians. This family-friendly event features live performances, food stalls, workshops, and activities, making it a major attraction for both locals and tourists.
2. The JQ Open Studios event
This is a testament to the Jewellery Quarter's burgeoning urban reputation. During this event, local artists and makers open their studios to the public, offering visitors a unique opportunity to explore the creative process behind their artworks. It also allows guests to purchase original pieces directly from the artists, providing a personal and immersive art experience.
3. The Birmingham International Jazz Festival
This city event includes many performances in the Jewellery Quarter. The festival attracts jazz enthusiasts from around the world and transforms the area into a lively music hub with concerts and street performances.
Additionally, the area celebrates Christmas with Lights Switch-On events, festive markets, and special seasonal performances, creating a magical atmosphere that draws crowds for holiday shopping and entertainment. Regular food & craft markets and pop-up events further contribute to the vibrant lifestyle of the Jewellery Quarter. They provide platforms for local entrepreneurs and creators to showcase their products, enhancing the area’s reputation as a hub for unique and independent businesses.
4. Strong Rental Demand and Investment Potential
The area attracts a younger demographic, particularly professionals aged 21-30 who prefer renting. This ensures a strong and steady demand for rental properties. Property prices have seen significant growth, with an average increase of 50% over the last decade, making it an attractive investment opportunity. Average rental prices in a 2-bed achieved are GBP1,321.00, according to our lettings and management expert Complete Prime Residential who manage 28 units in the Jewellery Quarter. The rental market is very healthy, they report average annual current rental growth of 5% as of June 2024.
5. Ongoing Redevelopment and Modern Amenities
Significant redevelopment projects have transformed old factories into stylish residential and commercial spaces. These developments not only preserve the area’s historic appeal but also provide modern amenities and living standards. The area’s continuous growth and development promise long-term investment benefits. Some key initiatives currently occurring are:
1. St. Paul’s Quarter, a redevelopment project by Galliard Homes
This GBP125 million redevelopment project by Galliard Homes and Apsley House Capital aims to transform a four-acre industrial site into a vibrant mixed-use neighborhood. The development will include residential units, commercial spaces, and the restoration of historic buildings such as 109 Northwood Street and 199 Newhall Street. The project is designed to create new workspace, homes, and a pedestrian street called Harpers Hill, expected to generate over 500 jobs.
2. Great Charles Street Neighborhood, £302 million redevelopment of the Ludgate Hill Carpark
John Sisk & Son, in partnership with Moda Living, has commenced the GBP302 million redevelopment of the Ludgate Hill Carpark. The Great Charles Street neighborhood will feature 722 new rental homes across four blocks, ranging from six to 39 stories. The project includes state-of-the-art amenities such as a gym, co-working spaces, sky lounges, and landscaped green spaces. It is designed to be a landmark entrance to Birmingham's city center and aims to create 470 new construction jobs.
3. IP Global’s own distinguished collection of regeneration schemes in collaboration with NVSM, aptly named the Heritage Collection
This collection features meticulously restored Grade II listed buildings in the Jewellery Quarter. Our third development launching in 2024, Nineteen Forty, follows the success of previous projects like the Bishton Fletcher Building, a three-story brick structure originally built in the 1800s, now transformed into 12 bespoke two- bedroom apartments with the average unit price achieved at sale of GBP336,833. All units have been fully tenanted out and have achieved an average rent of £1242 (2- bed) according to our lettings & management partner, Complete.
The Silversmiths was our second collaboration with NVSM, completed in 2024. Originally built as a toolmaker’s workshop in the 1800s, the building later housed silverware makers and served as an arsenal during WWI, producing over a million rifles. This historic building, which has witnessed six monarchs and the industrial revolution, is now comprised of 29 unique apartments that have been sold by IP Global, with an average unit price of GBP335,607. The average rent achieved for a two-bedroom unit has fetched GBP1,400.
6. Cultural and Recreational Attractions
The Jewellery Quarter is a vibrant hub of recreational attractions that significantly enhance its appeal to both tourists and residents. Regular artisan markets are held in the Jewellery Quarter, featuring local crafts, jewellery, and delicious food which contribute to the sense of community. There are also a wealth of cultural attractions, with a few highlighted below.
Cultural Attractions:
1. Museum of the Jewellery Quarter:
This museum offers an immersive journey into the history of the Jewellery Quarter. Housed in a former jewellery factory, it features preserved workshops and exhibits that showcase the craftsmanship of the area. Visitors can see demonstrations of traditional jewellery-making techniques and learn about the industry that has shaped the district for over 250 years.
2. Pen Museum:
Celebrating Birmingham's pivotal role in the pen trade, the Pen Museum is located in a former pen factory. It features interactive exhibits where visitors can try calligraphy, learn about the evolution of writing instruments, and see demonstrations of traditional pen-making processes. This museum highlights the city's industrial heritage and its contribution to global pen manufacturing.
3. RBSA Gallery:
The Royal Birmingham Society of Artists (RBSA) Gallery is a prominent cultural venue that showcases contemporary art from local and national artists. It hosts a variety of exhibitions, workshops, and art classes, making it a key destination for art enthusiasts and those looking to engage with the local art scene.
Historic Landmarks:
1. Chamberlain Clock:
Erected in 1903, the Chamberlain Clock stands as an iconic symbol of the Jewellery Quarter. It commemorates Joseph Chamberlain's visit to South Africa and is a focal point of the district. Its distinctive design and historical significance make it a popular spot for photographs and a landmark that adds to the area's historic ambiance.
2. St. Paul’s Church and Square:
St. Paul’s Church, located in St. Paul’s Square, is a beautiful Georgian church that contributes to the historical charm of the area. The surrounding square is a green oasis that offers a peaceful retreat amidst the urban setting. It is also a venue for community events and festivals, enhancing the local cultural scene.
These cultural and recreational attractions, along with the area's historic landmarks, make the Jewellery Quarter a dynamic and appealing district. The blend of museums, galleries, historical sites, and community events create a diverse and enriching environment that celebrates its rich heritage while offering modern amenities and activities.
7. Culinary Hotspot
The Jewellery Quarter has evolved into a culinary hotspot, offering an array of dining options that cater to various tastes and preferences. From trendy cafes to Michelin guide restaurants, the area's food scene is dynamic and diverse.
1. Restaurant Folium
This restaurant stands out in the neighbourhood with its innovative British tasting menus, offering a sophisticated dining experience. As quoted by the Michelin guide “the cooking, like the décor, is modern in approach and allows [Chef] Ben’s personality to shine through in the flavours and presentation.”
2. The Wilderness
Rock-and-Roll Fine Dining: The Wilderness offers a unique dining experience that combines high-quality cuisine with a rock-and-roll atmosphere. The menu is playful and provocative, reflecting the restaurant's commitment to breaking the conventional fine dining mold. Diners can expect an adventurous culinary journey set to a soundtrack of rock, punk, and heavy metal.
3. The Button Factory
Stylish Rooftop Terrace: The Button Factory adds to the area's appeal with its stylish rooftop terrace, providing a relaxed yet chic environment. The menu blends classic and contemporary dishes, making it a popular spot for both casual dining and special occasions.
Other notable spots include Saint Kitchen: A cozy cafe known for its excellent coffee and brunch options, perfect for a laid-back meal. Damascena, offering authentic Middle Eastern cuisine, and 40 St Pauls, renowned for its extensive gin selection and intimate atmosphere, making it a great spot for evening drinks.
The Jewellery Quarter also hosts various food festivals and events that celebrate local cuisine and culinary talent. These events provide a platform for local chefs and restaurants to showcase their creations and for food lovers to indulge in a variety of flavors.
Conclusion
Investing in property in the Jewellery Quarter, Birmingham, offers a unique blend of historical charm, modern amenities, and vibrant community life. With its strong rental market, significant price growth, and ongoing redevelopment, the Jewellery Quarter presents a compelling opportunity for residential property investors. Whether you’re looking to invest in rental properties, purchase your home or even just visit Birmingham, the Jewellery Quarter promises to offer you the best of the city.
