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37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 1
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 2
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 3
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 4
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 5
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 6
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 7
37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY - Image 8

37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY

West Midlands

£2,950,000
Listed on 22/07/2025

Property Details

Bedrooms
N/A
Type
Commercial Development

Description

This freehold residential development opportunity spans approximately 0.25 hectares in the vibrant Jewellery Quarter of Hockley, Birmingham. Currently housing a three-storey vacant industrial building comprising an original factory and a more modern workshop added in the 1970s, this site presents substantial potential for transformation. With full planning permission granted for the demolition of existing structures, there is a consented plan to erect a six-level residential block featuring 83 apartments (26 one-bedroom, 41 two-bedroom, and 16 three-bedroom units). The design also includes communal spaces, private terraces, and ample parking provisions — making it an attractive project for developers looking to capitalize on the rising demand for housing in this historic area. The property benefits from good transport links and proximity to Birmingham City Centre, enhancing its appeal as a residential locale amidst a thriving creative community.

Investment Analysis

(B18 area)
Area Average
£228/sq ft
Avg Rent (weekly)
£261
Avg Yield
7.5%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£1,500,000 - £2,500,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
10
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (B18)

Area prices are stable by -0.9% over the last 12 months
3 year growth: +3.2%
5 year growth: +15.6%
Investment Disclaimer: Analysis based on B18 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

37-38 and adjacent land, Icknield Street, Hockley, Birmingham, West Midlands, B18 5AY
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Mortgage Calculator

£
£
£
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years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£10,448
Based on a loan of £2,212,500 over 30 years at 3.91% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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