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News

Tesco Ripples Makes Waves In The Jewellery Quarter - October 12, 2006

 

The confirmation of the imminent arrival of a new Tesco Express in Birmingham's historic Jewellery Quarter is being welcomed as a key component of the area's blossoming infrastructure, despite some local opposition.

Philip Jackson from leading specialist city centre estate agents, Maguire Jackson, believes the urban renaissance currently being enjoyed in the area is making a real difference for those based in the Quarter and is causing ripples of excitement.

"A new Tesco Express is due to open next year which will make a real difference. A recent Hometrack survey* suggested that the presence of a quality supermarket within two miles of a property can add value by up to 4%. "I believe the presence of something like a Tesco in an inner city area like this adds similar value to a property in the suburbs being in the catchment area for a good school. "Add to this the increasing number of independent restaurants and eateries in the Jewellery Quarter, which the survey said could add 5% to property values, and you can see why the area is increasing in popularity," he added.

Jackson says the presence of a more comprehensive 'infrastructure' is creating a genuine urban village: "It's not enough to build apartment blocks and throw in the odd corner shop, hoping that will be enough to service the needs of the community. "Accommodation needs to be punctuated with services ranging from dentists, hairdressers and health shops to bars, dry-cleaners and delicatessens, to make a thriving community. The good news for the Jewellery Quarter is that range of facilities is falling in to place very nicely," he said.

Jackson says only this week a mainstream chemist has secured a position locally: "Ten years ago, the Jewellery Quarter was, for many too much of a risk for developers, but sensible revisions to planning regulations in the area mean that there is a real choice of properties for both residential and commercial use."



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