Seven Capital boosted by popularity of Dudley and Worcester developments

INVESTOR Seven Capital, which has pledged to build 5,000 new homes in the Midlands, has been boosted by the popularity of high profile apartment schemes in Dudley and Worcester.

The company said that schemes in both areas had sold out in just five months.
 
The firm, which is investing heavily with more than one million sq ft in the region, has sold off all 75 luxury apartments at Bridgewater House in Worcester and 181 flats at Landmark, Merry Hill.

It said interest in both sites had exceeded all expectations with strong demand from people and investors.
 
The £10m redevelopment of Bridgewater House is scheduled for completion scheduled in January 2016. It will house 55 one-bedroomed, 19 two-bedroomed and one studio apartment over five floors.
 
The Landmark development is a former office block on The Waterfront, close to the Merry Hill Shopping Centre. It will consist of one-bed, two-bed and penthouse flats and is due for completion in December this year.
 
Phil Carlin, managing director of Seven Capital, said: “As predicted, there has been a strong appetite for both our Bridgewater House and Landmark properties with local people recognising the growing attraction of Worcester and Dudley as places to live.
 
“The properties have also offered strong returns for investors and those looking for somewhere that adds real value to their property portfolio.”
 
The announcement comes as Seven Capital’s plans for ‘St George’s Urban Village’ vision, a residential-led scheme to transform a string of industrial buildings at Birmingham’s Jewellery Quarter, gather momentum.  Phase one of the project includes the redevelopment of The Kettleworks, which Seven Capital bought last year. Go-ahead was recently given to transform the building into more than 300 apartments.

It will eventually see more than 600 homes created on a six-acre site.