70 of units now sold at £10m residential scheme

Assay Lofts, the £10m development by Elevate Property Group in Birmingham’s Jewellery Quarter, has already sold 70% of the propertis.

The 32-apartment scheme in St Paul’s Square is scheduled for completion by contractors NM Group in September.

One of the first properties to sell was the luxury two-bedroom penthouse apartment, which was on the market for £595,000.

Elevate’s sales and marketing director David Hofton said: “What has undoubtedly helped is that buyers in the market for a luxury apartment are now well aware what Elevate delivers – the proof is already there in Concord House, Queensway House, St Paul’s House and Honduras Wharf, just some of the quality developments Elevate has already completed in Birmingham.”

Assay Lofts is Elevate Property Group’s fourth development in The Jewellery Quarter and tenth development deal in the city.

Other developments in the pipeline in Birmingham include the Cliveland Street development in the Gun Quarter which is due to start on site this summer and another site in Camden Street in the Jewellery Quarter which is subject to planning.

Cliveland Street will herald Elevate’s entry into the private rented sector and comprise 52 apartments – 30 two bedroom and 22 one bedroom.

Elevate Property Group currently has nationwide interests in 1,300 plots with a gross development value in excess of £330m.