Further bad press for city centre apartment investors, especially for the 'rabbit hutch dross' that were knocked up by builders in non-prime sectors surrounding the city centres.
A Birmingham Tory councillor has referred to them as the “slums of tomorrow”
The Birmingham Post has reported that hundreds of flats in the Jewellery Quarter and Eastside remain vacant and that even the city council has turned down offers to buy these properties for homeless people on the grounds that they are not good enough for council tenants.
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I am not surprised and agree with the council, they are dross. £1Million pound pads made from ex factory units in areas of jewellery heritage and history went on because of greedy building owners, and developers deciding to make a killing when the going was good. That idea has now turned into a letting nightmare because nobody wants them.
ReplyDeleteMany old and historical buildings were converted or even demolished, and it has changed the face of the world famous quarter for ever.
And to make things even worse, they are located within 1/4 mile of the biggest high rise building estate with the worst type of hoodlam living in them that you could find, called Newtown. Who would like to live in pad like that if you knew you stood being shot, car jacked or mugged the minute you leave the building? Not me, and I live 2 mile away and know that dump well through my employment.
The result is, the whole area will depreciate and will turn into a slum, as desparate landlords try and regain their outgoings. I dread its future.
So I went to view one of the apartments in question a while back.
ReplyDeleteInside the common areas look like a Mexican prison and the apartments were cramped.