Jump to content
House Price Crash Forum

Fear, Loathing And Graffiti The Nightmare Of City Living In Birmingham.


Recommended Posts

  • Replies 127
  • Created
  • Last Reply

Top Posters In This Topic

Orion penthouse is Birmingham's first £1million apartment sale

Nov 20 2008

Birmingham developers have cracked open the champagne to celebrate the sale of the city’s first million pound apartment.

The penthouse flat in The Orion Building was sold to a local businessman in his 30s, who exchanged contracts and moved in the same day – a week after viewing. With house prices plummeting, the sale of Birmingham’s most expensive flat has given a much-needed boost to the city’s housing industry.

The purchase of the flat breaks the record for the most expensive apartment by £100,000. However, the developers have been forced to knock £650,000 off the original asking price – after two-and-a-half years on the market.

The sale of the Orion Penthouse marks a victory for developers Crosby over rivals at Beetham Towers, where their £1.5 million luxury flat atop of the 39-storey building is on the market.

David Fenton, head of estate agent Knight Frank’s Midlands residential development, said the top-end of the market is still buoyant. “Certainly the demand for high specification apartments in iconic buildings has been particularly strong, and demand for city living in Birmingham has remained stable from all sectors of the market,” he said. “Buyers are certainly more price sensitive in the new homes scene, but the range and depth of provision has expanded greatly. The aspirational end of the market has performed particularly well.”

Link to post
Share on other sites
Same applies to other cities in the UK.

Auric

1. Great to see you again

2. I went to a Bond evening last week, held at fancy lawyers. The guest was David Arnold, the composer of the most recent 5 films.

Forget the current au price, its going to the moon. We just need the $ to break. AG is going to Mars. See you on the gold threads in the other section.

Link to post
Share on other sites
Is the number they have drawn the value of your flat in Turkish Lira next year?

It might not have been chavs, it might have been educated people making a point.

I notice the 06-08 underneath the main section, are these futuristic chavs?

http://www.urbandictionary.com/define.php?term=143637

Link to post
Share on other sites
  • 2 weeks later...

It would seem that Mr Malik has at least one of the properties under his own name in Abacus, which is also up for sale.

Mortgage is with 'The Mortgage Business' part of HBOS

Its HBOS who are having a lot of the flats auctioned.

Wonder if they had a deal with the developer, or with Midas/Atif Malik :unsure:

I know the areas not the best in the world, but is there anything actually wrong with the flats?

Link to post
Share on other sites
  • 5 months later...

I recently bought a flat in the Abacus at 65% reduction from peak price and just moved in. I have to say that i think any of the issues that previously existed must have been ironed out and certainly have not encountered any of the problems mentioned in these posts.

the quality build of the block is better than average and communal areas are well kept and clean, so there must be new management. anyone now buying in abacus can get a substantial discount and i think creative professionals are being drawn to the area, rather than business executives. the area, being a bit gritty, attracts creative people, not corporate types or families.

personally i think Digbeth will improve no end as the area is one of three areas of bham included in the big city plan. the wholesale markets are due to be redeveloped and the Boerma Quarter is planned to start soon, signs that change will happen.

it does seem though initial investors in 2007 were a little premature and now that most flats have been repossessed the development offers the affordable city living as originally intended.

still needs a supermarket nearby, but that will happen eventually

Link to post
Share on other sites
  • 5 months later...

The whole of central Birmingham is in trouble. People forever mention Leeds, Nottingham and Manchester as being vunerable regarding these new build flats....Birmingham has thousands of 'em, and is gong to get hit hard.

Im looking to move over to Moseley way, and even there they are looking at 150k for a two bedroomed "luxury" flat? What's luxurious about living in a shoe box with no garden, and neighbours above, below and either side of you: i'll never know!!

I had a mate who moved into Cheapside in Digbeth 18 months ago. Part buy - part rent, and he's assuming that he has must have made money since he moved in. I haven't the heart to tell him that they haven't sold all the flats in his block yet, and since he moved in there is another huge empty block next door that has been completed, with plans for another 2/3 blocks as part of the Digbeth "re-devlopment" with the land preparation well under way.

Its going to get messy....

'Luxury' is EA/developer-speak for laminate floors and a kitchen crammed in at one end of the living room. And very likely a vase of dead twigs or dish of pebbles somewhere.

Link to post
Share on other sites
Guest skullingtonjoe

Is the number they have drawn the value of your flat in Turkish Lira next year?

It might not have been chavs, it might have been educated people making a point.

I notice the 06-08 underneath the main section, are these futuristic chavs?

It`s a work of art. Suggest you buy the section of wall and send it off to some gallery for valuation. That`s how much the section of wall could be worth in pounds. A piece of cheap whatever banged together suddenly rockets in value!

Link to post
Share on other sites

"Apartments in Birmingham's iconic Rotunda building have gone on sale, with buyers queueing through the night for a slice of Birmingham's infamous skyline."

Speaking as somebody who spent their university years in Birmingham I'd like to say...

WHAT? People actually live in that thing? So bright young upwardly mobile things on huge incomes are going to relocate to a hideous tower block slap bang in the heart of a crowded city centre, with no parking (I think), and buy their milk and teabags from Rackham's food hall? I don't think so.

One of these for good measure:  :blink:

Link to post
Share on other sites

the Digbeth area has always suffered from a massive rat problem. In the seventies the birmingham meat market was being demolished at the bottom of Bradford Street. In the victorian sub basements the walls were filled with hundreds of tonnes of granular cork used for insulation in the ice rooms. This had ignited and continued to burn for weeks. It was impossible to to dig out at that stage of demolition. I used to drive a fire engine out of Moseley Road Fire Station down to the site in the early hours every night to damp down the site to reduce the smoke levels in the area.

One particular night I was confronted with a river of rats that must have totalled almost a million. They had been smoked out and had made their way along Cheapside, along rea Street and across Bradford Street. It was an amazing sight. The rats formed a moving wall to wall sea along all three streets in a column about 50 metres wide . It was impossible to see the road surface for rats. I waited for a good 5 minutes for the rats to cross Bradford street but they just kept on coming in their thousands.

I started to drive the fire engine slowly through them. I crushed hundreds and they still kept coming. It was not a pleasant sound with crunching and squealing beneath the wheels.

Now the interesting bit was that three nights later the same thing happened in the opposite direction.

I bet the entire area is still riddled with them. :( plus LL rats as well now.

No problem. We also used to get a lot of fires caused by petrol bombs in the Digbeth area with attacks on irish pubs and clubs following the Birmingham pub bombings. That would cause loads of rats to leave the basements and run around our feet. The area also had a lot of asian halal slaughter yards which were unregulated and rat ridden . These places were also petrol bombed on a regular basis. The rats would just ignore us and carry on eating the rotten animal flesh that littered the floor of the backstreet yards.

I never understood why Birmingham never became the city of culture :lol::lol:

One more brummie rat story before bedtime seeing its the chinese year of the rat.

At Highgate Fire Station which covered the Digbeth area of Birmingham we would often play games on each other and stick juicy dead rats(free to a good home) into each other fireboots and helmets which were kept on the fire engines. When we turned out to a call we jumped into our boots and put our helmets on only to find dead rats everywhere. The public must have been suprised to see fire engines coming down the road with blue lights flashing and rats flying out of the windows. Boys will be boys.

The property numbers in digbeth used to start at the Bullring end (from 1904) for postal purposes. From Floodgate Street it becomes High street. (Deritend) then from Adderley Street it becomes High Street (Bordesley) up to camp hill. All main roads from Birmingham city centre start from no.1 city end. The bull ring end of Digbeth has been called the top for over three hundred years. The bottom of Digbeth was Floodgate Street end.

Deritend and Bordesley have always been known as such for hundreds of years and Deritend was the first Birmingham settlement. Digbeth has only ever been known as the road. The area at the bottom of Digbeth (if we agree that the bottom is the bottom of the rea valley) was always known as Cheapside. Perhaps developers think that the name Cheapside gives the wrong image. The bottom of Bradford street was always in Cheapside.

Talking about the river Rea, when I posted earlier about the local rat problem I forgot to say that a rat catcher told me that one of the largest and oldest rat runs in Britain followed the line of the river Rea both above and below the surface. The rats usually move along the run about 4am when traffic is light. The two ends of the rat run were the meat market in Cheapside and the cattle market and refuse tip in Montague Street in Bordesley. He said that large above ground movements by rats took place when the river culvert was flooded. He also told me that at each end was two distinct tribes of rat that at been around for hundreds of years. The new developements have been built over the rat run. Buyers beware.

Some brilliant background by Daft Boy - almost 2 years ago!

Link to post
Share on other sites

Some brilliant background by Daft Boy - almost 2 years ago!

Yes brilliant , very interesting , but why oh why did I carry on reading it when it was about rat's. They are my phobia , will be looking under the bed tonight before I go to bed. LOL.

Link to post
Share on other sites

The other interesting story in Brum is that of the CUBE, the new development at the back of the Mailbox.

I used to rent in the Mailbox and went to the launch party of the CUBE back in Autumn 2007, out of interest rather than any intention to buy. Prices were truly staggering, I recall high 100,000s for a studio apartment, mid 200,000s for a 1 bed, and 300,000+ for two beds. People were buying at that event, including one Knight Frank employee if she was to be believed (she did seem very genuine). At the time the apartments were due for completion late 2009.

So here we are in late 2009, and the build is expected to finish in Spring next year. I can not imagine ANY of the buyers completing on this if they have any choice, as I know the deposits were 10% and I think most people would give up 18k rather than pay the extra 162k to get that one room studio. For at least 1 year there was someone trying to sell there 18k studio deposit for 13k, claiming it to be a true bargain that someone could get a MUST HAVE studio apartment for 176k...

I looked for the advert but couldn't find it, but did find a load of new cube listings, including some that seem to be available for 130k.

http://www.propertyindex.com/RS2850552

This is definitely less than 90% of the original price, just confirming that everyone will walk away from 10% deposits unless otherwise bound to stay. It will be very interesting to see how all this unfolds, and if anyone has any inside info it would be nice to hear...

Link to post
Share on other sites

The other interesting story in Brum is that of the CUBE, the new development at the back of the Mailbox.

I used to rent in the Mailbox and went to the launch party of the CUBE back in Autumn 2007, out of interest rather than any intention to buy. Prices were truly staggering, I recall high 100,000s for a studio apartment, mid 200,000s for a 1 bed, and 300,000+ for two beds. People were buying at that event, including one Knight Frank employee if she was to be believed (she did seem very genuine). At the time the apartments were due for completion late 2009.

So here we are in late 2009, and the build is expected to finish in Spring next year. I can not imagine ANY of the buyers completing on this if they have any choice, as I know the deposits were 10% and I think most people would give up 18k rather than pay the extra 162k to get that one room studio. For at least 1 year there was someone trying to sell there 18k studio deposit for 13k, claiming it to be a true bargain that someone could get a MUST HAVE studio apartment for 176k...

I looked for the advert but couldn't find it, but did find a load of new cube listings, including some that seem to be available for 130k.

http://www.propertyindex.com/RS2850552

This is definitely less than 90% of the original price, just confirming that everyone will walk away from 10% deposits unless otherwise bound to stay. It will be very interesting to see how all this unfolds, and if anyone has any inside info it would be nice to hear...

It is not just new build apartment's in Birmingham bought off plan at the hight of the boom , that have now dropped by tens of thousands of Pound's , but in many cities across the country.

Down here in London , especially in Docklands , Stratford and other areas in the East London post codes there is so much oversupply of new build flat's , bought of plan as far back as 2004 that have been coming up for completion this year and into the next few years. As well as people queuing up to buy , other's have sold on their contracts. Heard one estate agent in Dockland's local paper, stating that some contracts had been sold on up to four times at higher prices before completion. Funny thing is as well as doing it himself he was urging others to buy off plan and sell on at profit before build .

There have been many many non completions in the few blocks that were build complete this year. One development that had all sold signs up years back as they laid the first bricks , had a half price sale a few months back for all the flats where buyers did not complete.

On some of these developments we are talking about hundreds of thousands of pounds less being achieved than the original sale price.

It is not just about people walking away from their 10% deposits and that is it . They are contracted to complete or be sued for the difference that they agreed to pay and what the builder achieves selling to someone else at lower price if original buyer does not complete.

Many do not want to complete and most cannot even if they wanted as the mortgage valuation is far below what they were sold at , and lenders want much bigger deposits on the smaller mortgage that they are willing to give.

Been in the papers recently that builders are now going for the defaulted buyers via courts.

Also seen report's l in paper's about buyer's who say that if they are sued for the difference by the builders they will be Bankrupted.

Edited by miko
Link to post
Share on other sites
  • 7 years later...
On 25/05/2009 at 0:20 AM, mac1436umb said:

I recently bought a flat in the Abacus at 65% reduction from peak price and just moved in. I have to say that i think any of the issues that previously existed must have been ironed out and certainly have not encountered any of the problems mentioned in these posts.

the quality build of the block is better than average and communal areas are well kept and clean, so there must be new management. anyone now buying in abacus can get a substantial discount and i think creative professionals are being drawn to the area, rather than business executives. the area, being a bit gritty, attracts creative people, not corporate types or families.

personally i think Digbeth will improve no end as the area is one of three areas of bham included in the big city plan. the wholesale markets are due to be redeveloped and the Boerma Quarter is planned to start soon, signs that change will happen.

it does seem though initial investors in 2007 were a little premature and now that most flats have been repossessed the development offers the affordable city living as originally intended.

still needs a supermarket nearby, but that will happen eventually

I realise that I am bumping an old thread here - so apologies if this is not the done thing.

How has the flat in the Abacus building worked out? Has Digbeth been a place you have enjoyed living? - and what are your neighbours like in the Abacus building?

I ask because I am looking for somewhere to live (almost certainly renting) in central Brum - the Jewelry Quarter seems like the nicest area, but Digbeth has a good vibe to it, and in the daylight it feels safe, despite the rumours of gun crime.

Link to post
Share on other sites
3 hours ago, voldemort said:

I realise that I am bumping an old thread here - so apologies if this is not the done thing.

How has the flat in the Abacus building worked out? Has Digbeth been a place you have enjoyed living? - and what are your neighbours like in the Abacus building?

I ask because I am looking for somewhere to live (almost certainly renting) in central Brum - the Jewelry Quarter seems like the nicest area, but Digbeth has a good vibe to it, and in the daylight it feels safe, despite the rumours of gun crime.

doubt youll ever get an answer after 7 years there unless they reg'd under a different name.

Link to post
Share on other sites
11 hours ago, voldemort said:

I realise that I am bumping an old thread here - so apologies if this is not the done thing.

How has the flat in the Abacus building worked out? Has Digbeth been a place you have enjoyed living? - and what are your neighbours like in the Abacus building?

I ask because I am looking for somewhere to live (almost certainly renting) in central Brum - the Jewelry Quarter seems like the nicest area, but Digbeth has a good vibe to it, and in the daylight it feels safe, despite the rumours of gun crime.

Bumping old threads is perfectly acceptable if done for appropriate reasons, but I fear you may be heading off topic. 

 

Link to post
Share on other sites
2 hours ago, Ah-so said:

Bumping old threads is perfectly acceptable if done for appropriate reasons, but I fear you may be heading off topic. 

 

Worth bumping for this post :D

Quote
On 14/02/2008 at 4:10 PM, Daft Boy said:

the Digbeth area has always suffered from a massive rat problem. In the seventies the birmingham meat market was being demolished at the bottom of Bradford Street. In the victorian sub basements the walls were filled with hundreds of tonnes of granular cork used for insulation in the ice rooms. This had ignited and continued to burn for weeks. It was impossible to to dig out at that stage of demolition. I used to drive a fire engine out of Moseley Road Fire Station down to the site in the early hours every night to damp down the site to reduce the smoke levels in the area.

One particular night I was confronted with a river of rats that must have totalled almost a million. They had been smoked out and had made their way along Cheapside, along rea Street and across Bradford Street. It was an amazing sight. The rats formed a moving wall to wall sea along all three streets in a column about 50 metres wide . It was impossible to see the road surface for rats. I waited for a good 5 minutes for the rats to cross Bradford street but they just kept on coming in their thousands.

I started to drive the fire engine slowly through them. I crushed hundreds and they still kept coming. It was not a pleasant sound with crunching and squealing beneath the wheels.

Now the interesting bit was that three nights later the same thing happened in the opposite direction.

I bet the entire area is still riddled with them. :( plus LL rats as well now.

On 14/02/2008 at 4:51 PM, Daft Boy said:

No problem. We also used to get a lot of fires caused by petrol bombs in the Digbeth area with attacks on irish pubs and clubs following the Birmingham pub bombings. That would cause loads of rats to leave the basements and run around our feet. The area also had a lot of asian halal slaughter yards which were unregulated and rat ridden . These places were also petrol bombed on a regular basis. The rats would just ignore us and carry on eating the rotten animal flesh that littered the floor of the backstreet yards.

I never understood why Birmingham never became the city of culture :lol::lol:

On 14/02/2008 at 5:48 PM, Daft Boy said:

One more brummie rat story before bedtime seeing its the chinese year of the rat.

At Highgate Fire Station which covered the Digbeth area of Birmingham we would often play games on each other and stick juicy dead rats(free to a good home) into each other fireboots and helmets which were kept on the fire engines. When we turned out to a call we jumped into our boots and put our helmets on only to find dead rats everywhere. The public must have been suprised to see fire engines coming down the road with blue lights flashing and rats flying out of the windows. Boys will be boys.

On 15/02/2008 at 11:08 AM, Daft Boy said:

The property numbers in digbeth used to start at the Bullring end (from 1904) for postal purposes. From Floodgate Street it becomes High street. (Deritend) then from Adderley Street it becomes High Street (Bordesley) up to camp hill. All main roads from Birmingham city centre start from no.1 city end. The bull ring end of Digbeth has been called the top for over three hundred years. The bottom of Digbeth was Floodgate Street end.

Deritend and Bordesley have always been known as such for hundreds of years and Deritend was the first Birmingham settlement. Digbeth has only ever been known as the road. The area at the bottom of Digbeth (if we agree that the bottom is the bottom of the rea valley) was always known as Cheapside. Perhaps developers think that the name Cheapside gives the wrong image. The bottom of Bradford street was always in Cheapside.

Talking about the river Rea, when I posted earlier about the local rat problem I forgot to say that a rat catcher told me that one of the largest and oldest rat runs in Britain followed the line of the river Rea both above and below the surface. The rats usually move along the run about 4am when traffic is light. The two ends of the rat run were the meat market in Cheapside and the cattle market and refuse tip in Montague Street in Bordesley. He said that large above ground movements by rats took place when the river culvert was flooded. He also told me that at each end was two distinct tribes of rat that at been around for hundreds of years. The new developements have been built over the rat run. Buyers beware.

Some brilliant background by Daft Boy - almost 2 years ago!

 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.