Step into Digbeth’s transformation with the very first Centrick Invest podcast episode – a deep dive into one of Birmingham’s most exciting regeneration hotspots and what it means for property investors.
Just a 12 minute walk from Birmingham’s Bullring shopping centre and the forthcoming HS2 Curzon Street station, Digbeth is a district on the cusp of extraordinary change. Once an industrial quarter, it is now evolving into a creative and residential hub that blends heritage character with modern city living. In this episode, Centrick’s New Homes & Investments Director, Andy Butts, speaks with investment experts Siôn Bennett and John Treacy about why Digbeth is attracting so much attention from buy-to-let investors and owner-occupiers alike.
What makes Digbeth stand out from other Birmingham locations?
Digbeth’s appeal lies in its unbeatable combination of location, regeneration, and culture. Parts of the area are just a five minute walk from the Bullring, placing residents within easy reach of the city’s retail and business districts. It is also bound by two of the UK’s most significant infrastructure and regeneration projects: the £1.9bn Birmingham Smithfield masterplan and HS2’s Curzon Street station. These are once-in-a-generation schemes set to transform connectivity, public realm, and economic activity in the city. Alongside this, Digbeth retains its unique cultural edge, with the Custard Factory, independent retailers, bars, and a growing creative industries cluster. The BBC’s relocation of its Midlands base to the area and the filming of MasterChef add further weight to Digbeth’s cultural credentials.
Who is living and renting in Digbeth right now?
The rental market in Digbeth is dominated by young professionals seeking proximity to both work and leisure. Its competitive pricing compared to more established areas like the Jewellery Quarter makes it especially attractive. Rents are similar to these premium districts, yet purchase prices remain lower, creating strong yields for landlords. Many tenants are employed in finance, law, tech, and the creative industries, and value Digbeth’s “15-minute city” appeal, where everything from offices to nightlife to green spaces is close at hand. International students and graduates also feature in the mix, benefiting from Birmingham’s position as one of Europe’s youngest cities by demographic.
Why is Digbeth considered such a strong investment opportunity?
Investors are drawn to Digbeth because it is still in the earlier stages of its regeneration cycle, meaning there is significant potential for capital appreciation. Over 6,000 new homes are planned, along with public spaces, leisure facilities, and improved transport links. Smithfield will create a new lifestyle destination of homes, offices, and markets, while HS2 will cut journey times to London to just 45 minutes. Historic trends show that Birmingham city-centre properties have doubled in value over the past decade, and forecasts suggest the city could outperform the wider UK market with up to 30% growth over the next five years. Rental yields in Digbeth average between 5% and 5.5%, comfortably above the UK average, and rents are predicted to rise by more than 20% in the next four to five years.
What makes Emerald Court different from other developments?
Emerald Court is a boutique development of just 31 apartments, which helps to limit competition for rentals and keep service charges low. The one-bedroom apartments are generously sized at over 550 sq ft and start from £239,000, while two-beds are priced under £300,000 – a rarity in Birmingham city centre. The developer is retaining 11 units, a strong sign of confidence in the scheme’s long-term value. Buyers can secure a property with just a £2,000 reservation fee and 10% deposit on exchange, with the balance due on completion, expected in Q1 2026. Construction is already well underway, meaning investors can lock in today’s prices ahead of potential interest rate falls before completion.
What’s one thing investors should prioritise in today’s market?
The importance of choosing a quality letting agent – the cheapest option is rarely the best, particularly for overseas landlords who need a fully managed, hands-off service. Also, research the developers, ensure robust deposit protection is in place, and avoid schemes with high service charges that could erode yields. Timing is crucial too; entering the market while regeneration is in its early phase can deliver the best returns over the medium to long term.
Key Highlights:
• Digbeth: £1.9bn Smithfield regeneration + HS2 Curzon Street station
• 6,000+ new homes planned alongside cultural and leisure investment
• Savills forecasted 20%+ rental growth and up to 30% capital growth over the next 5 years
• Emerald Court – boutique 31 apartment scheme, 10% deposit, low service charge
• Completion Q1 2026
Interested? Speak to the team today to find out more about Emerald Court – https://tinyurl.com/5425fvpk
Hi everyone, I’m Andy Buts, new homes and investments director here at Centric and welcome to Centric Invests first ever podcast episode. Today we’re going to deep dive into Digbath, one of Birmingham’s most talked about regeneration hotspots and unpack really what makes that an investment play in today’s market. Joining me today are Sean Bennett and John Tracy, our expat investment directors. Welcome both of you and thanks for joining. Um, do you want to maybe just give us a rundown of what you guys have been up to, your experience, that kind of stuff? Yeah, sure. Thanks. Uh, thanks for the introduction, Andies. Hey, my name is Sean Bennett. I’ve been based in Hong Kong for six years now. Of course, we sell property all around the UK. However, has been one of our top hotspots. Whilst I’m not whilst I might not be from Birmingham like some of my uh colleagues here, I know the market extremely well. I’ve had lots of clients be very happy and successful with their properties there. John John Tracy. Um I’m originally from well born near by Birmingham, Wolverampton, but actually been in Hong Kong for um just touching on 18 years now. I’ve worked with some of the biggest developers in Birmingham over the last uh 7 to 10 years. Um experienced a lot of the pros, cons um of the market there. Um and it’s you know is an exciting market for sure. So yeah, looking forward to getting stuck into this today. Brilliant. Thanks both. So what we’re going to cover today is a few highle topics. I’m going to talk about um why Digbus regeneration isn’t just all hype. We’re going to talk about and unpack really who is living there, who are the tenants, who are the owner occupiers, what’s the market doing. Uh we’re going to talk about the expected returns you can you can expect to see over the next 5 to 10 years. Uh we’re going to talk there about rental and capital growth. Um and we’ll also give you some early access into a development that we’ve been we’ve been running in deep recently and that we think makes an excellent investment. Um first I think what we should address really is the whole berlet market. Obviously berlet’s had some bad press over the last couple of years I would say with interest rates um increasing legislation and and cost to landlords going up. Sean maybe we start with you. What are your thoughts on bitallet and why why should people still think about having property in their investment portfolio? Yeah, sure. I think you touched on it there. I think any sensible person or wealth manager would say, you know, you don’t all the eggs in one basket. Of course, property uh forms a part of a wider kind of portfolio. But I do think there are huge merits. I mean, having something physical that someone can touch as an investment is a huge a huge point. you know, if there’s World War II tomorrow, which you never you never know at the moment, but you know, if there’s World War II, people still need somewhere to live, right? They’re still going to need somewhere to live, and it’s a very longterm uh asset in that sense. Also, the fact that you can do leverage. Now, of course, you that’s a mortgage. You can call it a mortgage, but also there’s not many investments where you can only you only need to put down 25% of the property price, but you’re benefiting from the full 100% as well. So, that leverage forms a big part of it. And I do also think I mean you said about legislations of course there’s a lot of talk about the kind of rental reform act and things at the moment. I have a property in Wales and from Wales and they’ve had rental reforms and regulations for over a year now and it hasn’t had any to little impact. I mean what it has done is it’s kind of sifting out some of the bad landlords and ultimately it’s going to make it more of a professional market which I don’t think is necessarily a bad thing. Yeah. Brilliant. John, any views from yourself? Yeah, I think obviously from an expert angle where a lot of our experiences is for people say in Hong Kong, Singapore, Dubai, you have to you don’t have a pension provision like you do a lot of the time in the UK with employers. So you do have to get your money to go to work and especially if you’re leaving it a bit later on. Property is probably the quickest way to accelerate that. So you get two or three properties, you can get there quite quickly as opposed to saving that in 10 years would be very hard. I think also we look at the research and the research is quite interesting timing. you know, Saviles just this week have just released updated price um increases and they have been increased. Um quite slow for this year, but from next year onwards it’s very very strong. So I think um it’s probably a good time to get into especially something a bit off plan. Yeah, we’ll touch on those numbers a bit later on, but yeah, I think it’s uh part of a holistic approach. Don’t put everything into property. I got some clients who’ve got a lot a lot of property, but perhaps part of a balanced portfolio, this still absolutely does work. Yeah, absolutely. I agree. And I think, you know, property isn’t a get-rich quick scheme. And I think people got to got to think in fiveyear stints and they five to 10 years. And like you say, pension planning is the perfect uh perfect opportunity to to to think about property. Okay, great. So, what um maybe John, you can take this one first being a being a local lad, but what makes Digbath distinct from other Birmingham locations and why we’re seeing it as a quite a big investment hot spot right now? Yeah, I think it’s just um it’s purely location um and what’s what’s happening around that location. It is, you know, as parts of Digiff are literally a fivem minute walk from the boring and equidistant to two of the biggest um infrastructure projects in the UK which we’re going to come on to Birmingham Smithfield and HS2. HS2 is once in a 100 years infrastructure project and Smithfield is equally once in a a lifetime sort of thing. So to be piggybacking on the infrastructure is what we always say and the these are two of the biggest projects in the UK. So Digbath is right smack bang in the middle of the city center. Your 5 minute 10-minute walk to shops and your price is still very affordable apart apart from parts of the city. So say somewhere like Julie quarter where something prime there might be 300,000 for a one bed plus you’re looking at something around the 200k to 230k marks. If prices are right and the story for growth is extremely strong um to say the least. Brilliant. Sean, um, not being from from Birmingham, what are your thoughts? I know you’ve had some some good experience with other developments that you’ve sold in the past that perform well. I think Digbath, I mean, Birmingham is obviously bit more of an industrial kind of traditionally. I know back in the day a bit more of an industrial city, but I think Digbath specifically something I like about it was quite industrial and so there’s a lot of kind of warehouses and things and I I say that in a positive way because a lot of these are being converted into beautiful uh commercial buildings, apartment buildings. So it’s got quite a kind of it’s now become a bit of a residential area and hub for the city. Obviously where other areas they have kind of big office buildings and things here it’s become a bit more of a residential but quite a cool hip area. You got the bars, restaurants. You’ve got when I was there recently I went to somewhere called Red Box I think it was called. We had like independent clothing companies and like a warehouse and stuff. So that’s what that’s what I like about it. It’s it’s becoming that kind of hip edgy residential era. Yeah, there’s definitely a great vibe around there. I think with with the custard factory and the kind it’s very very much a young entrepreneurial spirit, isn’t it? Um along with some great kind of leisure and and retail options. Yeah, I think tenant demand is picking up there. People want to be around Digbath. Um particularly the the younger end of the market, I would say, which we’ll probably touch on in a second. So that kind of se segus quite nicely into who is renting in Digbath right now and what’s making them want to move there and what’s kind of retaining them there. Yeah, I think I think interestingly I mean again we sell stuff all around Birmingham inside the city center and outside the prices as John touched on earlier and say you go to someone like the jewelry quarter for example is a lot more expensive to buy. But interestingly when you look at the rents there’s actually not that much of a difference which to me shows there’s a big rental demand in Digbath. Most of that is young professionals. So I mean that’s usually who we target anyway as as as tenants. Of course the average age in the UK to buy a property is going up. So you know more more people having to rent but also want to rent as well. So young professionals, people moving to Bingham City Center. You do get some kind of students and international students. Um but it’s mainly those that kind of young professionals someone who’s got job in finance job in law. They’ve got you got the tram station now. You got buses and and that’s the kind of rental tenant the stereotypical rental tenant that we’re seeing. Yeah. John John, what are you seeing in terms of tenants or Yeah. So, similar to Sean, I mean Birmingham is one of the youngest cities in Europe by age demographic. So, you got that young professional, you’re thinking like HSBC, which are bank these big firms, people can walk to work, you know, but then you’ve got that creative kind of creative quarter um which is getting bigger and big. So, bit a bit of both. As I touched on before, what you’ve got on your your doorstep, you you know, you’ve got all those amenities and the plan plans for those amenities to grow. So proximity to to work and play basically is why people why it’s attractive and and the renters are the same like we’ve done a lot of units in apartments in Jed or JQ as a lot of people know it as and the rents are exactly the same but the much cheaper so um to double down I think it really means that the the rental demand is very strong in Digler for sure. Yeah, definitely. I think there’s a lot of talk in the market at the moment about sort of creating 10 15 minute cities, isn’t there? Where everything’s on your doorstep from your job to, you know, your shopping and your your retail and also your, you know, your leisure and your evenings and stuff. I think Digbath’s got all that in abundance and there’s there’s more coming through the pipeline as as we’re aware. Yeah, definitely is forming that that kind of 10 15 minute city center. Um, okay, great. So, obviously dig being spun around is definitely a regeneration area. Shall we talk about kind of what’s what’s real in that? What’s coming through? What’s already being built? You know, you can talk about perspective projects, but they they might never come out the ground. You know, what’s funded? What’s underway? What are we expecting to see over the next maybe 12 to 24 months, do you think, in terms of new projects? So, I mean, John John’s already touched on it earlier, but this these things are going to benefit these two specific things being Smithfield Market Regeneration and HS2 are going to benefit Birmingham as a whole. So you know when we’re when we’re pitching bur we talk about it but what’s huge is they they are in dig with in and around Dworth like it’s going to have a huge benefactor. Smithfield market is I think it’s about 1.9 billion which is going to be commercial buildings residential buildings be coffee shops offices everything that’s going to be a huge lifestyle area and that’s where the old Birmingham market was and they’ve moved that Birmingham market out of the city center and then to add on to that the HS2 which again is just going to completely regenerate the Midlands as a whole. It’s it’s it’s the probably the largest infrastructure investment like John said that’s been um you know for generations. Um and that is again dig or next to dig with. So it’s going to have a massive impact. You’ll then of course it’s there’s things recently about the delays and stuff and it’s probably going to be looking at knowing the UK uh timelines. You’re probably looking at between 2033 and 2035. But once that completes it will be a complete game changer. You’ll be able to go from Gworth into London to central London then Houston 45 minutes. And you know, you can see people commuting one or two days a week between the two cities. So they they’re confirmed underway. When you go there, you can see those things are happening. You’ve got the custard factory you mentioned, which is already quite a cool area, but I think that’s got about a 10 million pound regeneration going into it as well. Uh which will include the Typhoon Tea Factory, which is obviously where the BBC Midlands are moving their offices. I think they’re filming Master Chef there as well, right? Some other bits. It’s definitely, again, I’m always like kind of joke about it. It’s definitely a little bit rough on the edges. I think Digbath but that’s you know when you’re looking at investment the other kind of areas you want to be going into where there is that huge regeneration um and on all that potential for growth. Sean uh John any other comments on that? Yeah, more on the housing side. The plan there’s plans to build 6,000 new homes in in Dignifone. You know, I think it’s all about timing as well that that’s all confirmed and with planning permission. I think getting into something where you’re not waiting for 5 10 years for something to be built um and you’re waiting say 6 to 12 months maximum to get into a project makes a lot of sense. Um you know those master chef those sort of TV creatives are going to just keep you know it’s like one once one goes in others may follow. So I think it’s just about timing. I think in five 10 years time you you think I look look back and go wow that there really were good prices then because once these things actually happen like HS2 we actually can do that commute then prices just kick on. Um so I think it’s just about picking your timing and get into the market still a very early time in the process for what’s due to expand. Yeah, definitely. I’ve I’ve worked in Birmingham and and obviously seen Digbath now for well over a decade and um you know from what it was then to what it is now is huge and all I ever hear people is I wish I’d have bought then. I wish I’d have bought when we talked about that project 10 years ago. Um and it you know it’s going to be the same in 10 years, isn’t it? All this infrastructure is going to come to life. All this investment is already happening. Um so you know that that phrase in the property world of um don’t wait to buy property, buy property and wait has has never been never been more true. So yeah de a lot a lot happening in deep for sure. Okay brilliant. In terms of then capital growth um or and rental growth. What are we expecting to see over let’s say the next 5 to 10 years? What are the forecasts around um I suppose Birmingham and then drilling down into Digbath? John, do you want to look at maybe the the capital growth? Yeah. Yeah, sure. Sals have just upgraded their um report for the for the next 5 years. you’re looking at around for Birmingham around 23 24% of growth for the next five years which is outperforming a lot of the market regards to the UK then you’re going to have big obviously that’s the West Midlands and then Birmingham obviously is the the uh the main part of the West Midlands for growth could be the big city you know I’m from originally Wolverampton which is 10 minutes away and there’s no way there’s growth happening in Wolverampton as much as Birmingham Birmingham is the nucleus of this growth because of these huge infrastructure projects I would suggest if the west if west 23 24% and I think Birmingham should be more like 30% over the next five years in the right project if you’re buying it if you’re getting in at the right prices. Definitely. And I think you know just referring back to what I said about selling a property and I think John you were probably selling some of the same projects as me way back when but they’ve actually doubled in value since we were selling them 10 years ago haven’t they? So you know we were selling one beds there for early 100,000s 110 120 grand lowest price one bed I think in Digb. It was only 400 390 square foot. It wasn’t it wasn’t a a huge unit but apartment size but yeah there was low as that but anything starts with a 200 nai and a one bed and and pretty much in in a city center let alone dig with anything starts really from 300 for a twobedroom. So if you can get in below that price point which we’ll touch on with emerald you can. It’s definitely gives a green light to a lot of investors. Yeah, definitely. And I think that, you know, those prices have doubled in a market where, you know, that that the planning system and the infrastructure probably hasn’t moved as quickly as it is now. So, yeah, HS2 was was 25 years away back then. So, yeah, it’s really uh really good signs to look back and see where where the where the growth’s happened already. So, good signs of things to come hopefully. Sean, maybe do you want to touch on the kind of rental expectations, rental growth, that kind of stuff? Yeah, sure. So the the average rent you’d be expecting um in Digworth specifically is is probably between five and five and a half% um net. That’s what you’d be going for. I mean the average for context the average yield across the UK it depends on who you read but it’s like between four and four and a half% net. So that is above the um the UK average in terms of kind of growth and forecasts are forecast but they expect rents to grow just under 20% 19.9% over the next four or five years just to the end of it four and a half years now halfway through 2025 and again I guess touching on what we said about why property right at the start that is something that’s kind of worth mentioning as well is that you do have two forms of income with property you have the kind of price growth and the rental income I’m always kind of careful when I talk about it I guess because you know things prices are going up in the UK which is tough when you’re living in the UK in terms of rents and stuff but as a landlord of course it’s a good thing it’s a very good kind of hedge against inflation especially when you have those two forms of growth like you have the rental income which rents very rarely go down you know they stay flat or go up then you have the property prices growth as well so yeah it’s definitely what makes property as an investment class different isn’t it where you can get monthly income from it stocks and shares you can’t really do that it might grow in value but you can’t draw an income or a wage off it. So, yeah, it’s really quite unique. Um, okay, great. So, some good uh good signs on both capital growth and rental demand. Um, I think it’s worth noting as well that the you know, properties are never never empty for longing and around Birmingham and Digbath, the tenant demand is super high. Um, so generally tenants, you know, you don’t you’re minimizing your void periods. Absolutely. So, in today’s market then, what are the things that investors should be wary of or look out for? Obviously there’s there’s some kind of definite advice I think we could give here as things to look out for things to be aware of that might be areas it might be particular deposit schemes. Um Sean is there anything you know top one or two tips you would give to investors in today’s market? I think I mean perhaps it’s because we just been talking about rent and so it’s kind of top of mind but I really do think especially more recently that a um a rental a good rental agent is imperative to a good kind of investment. increasingly more increasingly recently we have people kind of complaining about maybe tenants or rental agents and things and what you’re noticing a lot of the time and people do learn their lesson pretty pretty quickly but they sometimes people go for the cheapest rental agent you know they’ll go for the cheapest rate but cheapest isn’t always best the idea of a rental agent especially when you’re an overseas landlord is that they they do the whole process for you is completely handsoff whereas you know sometimes when you get cheap rental agent they’re basically just relaying messages to you and you’re basically looking after yourself might be pay paying them for it. So, I think choosing a good rental agent is is key. And again, I’m not saying the most expensive is best, but I’m just saying the cheapest isn’t always best. The second thing I think is um do do your own research on developers, I think, as well as a big thing. We have a huge and always have had a huge emphasis on kind of the due diligence process, especially when things are off plan. It’s important. Does it have all of our things have to have deposit protection in place? If you’re buying off plan, they have to be fully funded. They’re not using your money towards the build of the property. These kind of things as well. So, working with a good developer and I suppose good partner like ourselves helps with that as well is another Yeah, definitely. Uh what is it? Buy cheap, buy twice. Yeah. Yeah. In all industries at the moment, right, I think service levels have have probably dropped over the last five years and experience levels within the property industry as well. So, I think vet your agent. Um, make sure they’ve got relevant experience. Get some references. Um, and I think generally you follow your gut with that. You know, a gut feel for most of these people is um generally right. So, yeah, I think that’s really good advice. Sean John, what have you got? Yeah, I think um the actual deposit on the actual um project itself. I mean, in the UK, you know, you can have you can go up to 25 30% on exchange. Is it a deposit? And you know, Emerald Court um clients can get in for 10% um on exchange. So I think that is good. You know, you don’t want to put too much money down that you don’t that’s not working for you. It’s only working to for you upon completion, right? So that’s a big thing. All the projects that we tend to work on at the moment are between 10 and just a couple at 20%. So Emerald C at 10% is is attractive in that basis. Also, you know, there’s there has been a bit there has been a lot of projects in the UK I’ve seen marketed with with with with huge paper fantastic facilities. That’s great if you’re going to live in it and I’ve lived in these sort of places in Asia where you’ve got pool swimming pools and stuff like that and it’s amazing. As a as a landlord, you know, these things cost a lot of money and service charges can be expensive which can eat into your yield. So given Digbuff is such a good location and there are gyms and things like that very nearby to all these kind of places then I think getting something with a pretty low service charge is really important. So which means the yield you get is your yield or more of it is your yield as opposed to it being eaten up by a a chunky service charge. Yeah, good advice. And John, is it worth just jumping into there about deposit protection and stuff because I know there’s some developments that might be asking for 20 and 25% which none of it is protected. So it’s quite high risk. Is it worth kind of breaking that down for people now just so they understand what to look out for? Yeah. So look, I mean always I mean there’s been some horror stories over the years. Um I mean I remember a scheme in Manchester back in the day where it was sold in Hong Kong and people were paying 50%. They were promised like it would receive interest and the the project failed. Anything over 20% for us is probably a red flag where we’d have to have like complete comfort and where the money’s really protected and and that’s not the case. So I think um having deposit protection in place is important. Having uh checkmate or equivalent guarantee is important and and these are things that we work with our solicitors our approved panel to to help clients be pretty protected and make uh you know their money work for them. I think anything over 20% right now is is a nogo for me in the market. Um unless someone can say there’s a valid reason why they need to do it because most developers aren’t doing that. Yeah, definitely. And and I think like Sean alluded to, you know, making sure the agent that you’re going to buy from has done the relevant due diligence. You know, we run a a 50 stroke 60 point due diligence checklist. And it it’s worth asking to see some of that. Um I think you both have touched on it kind of funding professional team planning applications. You know, some people are selling stuff that haven’t actually got the formal sign off and discharge conditions on planning. I’ve seen, you know, again, look out for those horror stories. But yeah, speak to the agent, check on what due diligence they’ve done, and also, you know, things like long stop dates in the contract, stuff like that. So, there’s a lot to go into, but yeah, ask to see maybe the the due diligence report um would be a really good good place to start. Okay. So, we’ve talked about the market, we’ve talked about Digbath. Should we talk about Emerald Court itself? Obviously, it’s a development that we’ve we’ve been selling to some of our investors. John, what what what do you think is creating the buzz around Emerald Court at the moment and why some of our investors have been um keen to get on board with that development? I think first of all, location is perfect. I mean um we all were involved in a previous scheme which is just about 300 mters away um which is got a really good track record of of rentals and you know lots lots of happy clients, repeat buyers from that project. So the location is perfect. Um it’s not a huge scheme. It’s only 31 apartments in total. So I think that’s just that perfect for a couple of reasons. There’s not a huge amount of competition for rentals when it comes to market and also the service charge will be maintained at a low level. So I think those are two main major things because you know a good investment is only a good investment if it’s if it’s rented out and you’re actually making money right. So the price point is the main thing. The two beds are extremely well priced um being under 300k um which as I mentioned previously I think anything under 300k in city center is is a buy. Um, and the one beds are extremely well sized. So, you got one beds for 239,000. So, 239K and they’re over 550 ft². So, very, you know, I talked about that project in Digbath previously, which is 390 foot, which is great crash pad sort of thing. But for actual people who want to live, work, and play, they want a nice size apartment. 550 foot is a really good size, and just 10% down on 239 is just £23,000. So, I think the um the nuts the nuts and bolts of it make a lot of sense. So, yeah, that’s the sort of summary for me. Yeah, sure. What do you like about Emerald at the moment? I think I think John’s pretty much smashed it. I think he’s uh he’s taken all my he’s taken all my points. The only thing he did miss out is that especially the one beds. Some of them are facing the park which are really nice. There’s one on the first floor at the moment. The other thing again as well actually it didn’t mention is the fact that which something I really like is that uh the developer is retaining I think 11 units nine nine or 11 11 apartments and so to me that gives a very good kind of vote of confidence he he believes in it he’s in it for the long term and that shows the kind of strength of the investment case. Yeah it’s quite rare isn’t it to see that so yeah I do I do agree with that sure. Okay and and in terms of um the deal structure then I suppose why what point are we at in the journey? How can people get involved? What do they need to understand about how the off plan uh purchase structure works? Sean, so John doesn’t steal your thunder. Do you want to do you want to take some of that? Yeah, sure. So, there’s there’s 29 apartments and the developers holding on to 11. I’m sorry, 18 apartments. We’ve sold I believe 12 at the moment. So, we’ve got um seven seven eight left. John said we’ve actually got one or two two beds just under 300K, which is very much unheard of in Birmingham city center at the moment. And then there’s some one beds between like 229 and 245. I believe the there’s a few different deposit structures when you go into it, but what most people are doing is putting 10% down. So basically you reserve today with £2,000 goes into the solicitors your solar solicitor do a bit of back and forth and after about a month the client basically pays 10% deposit minus the £2,000. So you only need effectively you only need what’s that 23 £24,000 to get into get into it. Of course, you’ll need some more money later on, but that’s a very low deposit structure to to get in, especially people who get, you know, bonuses, maturity bonuses, teachers, things like that overseas. And then you won’t need anything until completion. So, current completion is probably end of Q1, early uh Q2 2026. So, let’s say you get to you paid 10%, you have 90% remaining. You’re going to use a mortgage to fund the majority of that 90%, say 75 80% of that uh mortgage. going to need another kind of 10 15% deposit when you get to completion. So, it’s quite nice. It breaks up the payment cycle especially when you know probably slower than what people expected, but everyone is expecting interest rate to continue to drop as well. So, you’re locking in the price now. However, you get a um you you’re you’re hopefully getting a low interest rate in 6 n months time. Good. John, anything to add to the the kind of structure of the deal or what what you know potential investors might might want to know or need to know? Yeah. Well, the good thing is it’s not like a you know construction is well underway now. So the steel frame is just going up which is good news. So that’s uh we can actually you feel what what it’s going to look like to an extent. So that’s that’s all in place. The construction is taking place without having to wait for sales where some some projects that they have to sell all of it or most of it before they sort of start to build. Construction is well underway and we we can actually provide construction photos and videos. But yeah, the still frames are going up. We were there um yesterday actually. We’ve got some fresh images of that. So, it’s really good. You can start to see what the kind of mega structure looks like. Um it’s a great day to kind of see it through through the journey. I think I don’t know if you mentioned Sean, but we’re expecting this kind of Q1 probably uh 2026 next year. So there’s a fair bit of time to kind of get the legals done, get the mortgage application approved for, which we’d we’d probably look at what, six months out from completion for for mortgage application. So you’re looking at that in um in Q4 of this year. And then yeah, we’d you know, line up you’d line up rental agencies, furniture providers, all that kind of stuff, wouldn’t you before, well in advance so that there’s no downtime after completion. You know, you want your furniture in there pretty much on day one, and you want your letting agent pretty much picking up the keys and doing viewings on it on day one. So yeah, I think getting all that in order in process, planning that so there’s no down time in between completion because once you’ve paid all your money, you want to be returning on it as soon as possible. Yeah, again, speaking to your agent, making sure that they’ve got the furniture provider lined up that you know, possibly marketing it a few days before completion just to start getting um getting some interest and we can get tenant lined up as soon as possible so it’s returning for you almost um almost immediately. Okay, guys, thanks for that. Anything else you guys wanted to add? No, it’s good thoughts. Okay. Well, thanks for your time today, guys. Been great. And um yeah, look forward to hearing from you soon.