Shared Ownership is Saving Me £400 a Month at Belgrave Village in Birmingham

A 37-year-old Estate Agent has shared how he is saving £400 a month living in a brand new apartment at Belgrave Village in central Birmingham.

Michael Swords has recently moved from the Birmingham suburb of Erdington to the £106m development, which will feature a total of 438 houses and apartments when building work completes in spring 2025. Accessed off Belgrave Middleway (A4540), just outside the city’s Ultra Low Emission Zone, the 12-acre regeneration project is being delivered by Wavensmere Homes, in partnership with Galliard Homes and Apsley House Capital.

While prices for one-bedroom apartments currently start from £208,000, Mr Swords purchased a 30% share via Home Reach’s shared ownership scheme. The 5% deposit was £3,000. He pays a £330pcm mortgage repayment, together with £360pcm rent for the remaining 70% of the new build property. 80% of the Belgrave Village homes have already been matched with purchasers, and the cost to rent an equivalent apartment at the popular scheme is £1,100pcm.  

I specialise in the valuation and preparation of sales particulars for lived-in homes coming onto the resale market, so I hadn’t got first-hand knowledge of Belgrave Village before choosing to buy there. I have two dogs, so green space and peaceful surroundings was as important to me as a quick commute into the office. When colleagues in the new homes team spoke about the development, it was just what I’d been looking for.

I couldn’t afford to buy on the open market, due to the level of deposit required to obtain a decent mortgage offer. Shared ownership opened up the opportunity for me to get on the property ladder with just a £3,000 deposit. Until I received the calculations, I had no idea what a saving it would be, compared to renting. My friends and family can’t believe I’m paying less than £700 a month. As it’s an energy-efficient new build, the bills are very low too. There’s no gas here, and electricity and water costs me a total of £80 per month.

I feel like I’ve really landed on my feet here. Walking the dogs round all the open spaces is a great way to meet the new neighbours. I’m looking forward to the on-site gym and screening room opening in the next few months. Having not previously known much about shared ownership, I am so pleased it was available to me. I like the thought of increasing my ownership stake via staircasing, too.

– Micheal Swords, Belgrave Village resident and a Senior Lister for Connells Estate Agents in Birmingham

Four two-bedroom apartments are still available via Home Reach’s shared ownership scheme. The full value of each 648 sq ft property is £265,000, with part-purchase/part-rent available for at or upwards of a 30% share.

A three-bedroom show house and two-bedroom apartment have recently been unveiled at Belgrave Village. The houses on the development benefit from eco technology including air source heat pumps, and design features such as three-metre-high ceilings within each floor of the houses.

The first residents moved into the expansive development last summer, with 95 Belgrave Village houses and apartments now completed and occupied. A further 150 homes will be ready to move into before the end of this year. A selection of newly finished plots are available to move into straight away.   

The show house interiors are geared to city professionals, like Michael. Located for such an easy commute, it is ideal for those seeking a peaceful, community-focused living environment when the working day is done. Belgrave Village balances professional and family life, with ample open spaces and residents’ amenities to foster strong neighbourhood connections.

– Donna Smith, Sales Director for Wavensmere Homes

Belgrave Village incorporates natural ventilation and low energy appliances, to enable occupiers to lower their carbon footprint and household bills. Apartments feature electric heating, while the houses are installed with air source heat pumps. The 174 two-, three- and four-bedroom houses are EPC-B rated, which qualify for green mortgage rates. Each house is sold with a parking space, while purchasers have the opportunity to buy parking with the 238 one- and two-bedroom apartments, which are situated in striking new buildings, rising to 11-storeys high.

All homes feature contemporary fitted kitchens with integrated appliances. Bathroom suites are by Geberit with coordinating Bristan brassware. Flooring is provided as standard throughout each home, consisting of a mix of luxury vinyl tiling and fitted carpets. Once complete, Belgrave Village will offer residents access to a gym, co-working space, screening room, and concierge service. The scheme design and mix of apartment and house types enables occupiers to care for small pets.

For local journeys into the city’s business, shopping, and cultural quarters, cycling and E-scooters that are readily available for hire are the preferred methods of transport for most residents, although bus stops are positioned close to the new development. Moor Street station and New Street station are both around 1.5 miles away, offering frequent services across the UK rail network. Trains from New Street to London Euston take 63 minutes. The A4540 leads to the Aston Expressway (A38M) and provides easy access to the national motorway network.

The Belgrave Village site was previously Joseph Chamberlain Sixth Form College and Birmingham Sports Centre, but had lain derelict for 20 years. Headquartered in Edgbaston, Birmingham, Wavensmere Homes has close to 3,500 new homes either in production, or planning. 

For further information on Belgrave Village, or to view the show homes, contact Connells’ Birmingham office on 0121 212 0800, or email info@wavensmere.co.uk