The Bank,Sheepcote Street, B16

These luxury apartments situated in the heart of Birmingham city centre, this outstanding development stands within walking distance of many attractions including Brindley Place and Arena Central. It offers many communal facilities for the residents to enjoy including 24 hour concierge. 

Early 2000s-2015: Pre-development
The area had been earmarked for regeneration, particularly after the success of Brindleyplace (developed in the 1990s).
Regal Property Group acquired the site and proposed a mixed-use, high-rise residential project.

2016-2018: Tower I
Planning permission granted in early 2016.
Construction began the same year, incorporating the retained bank building at the base.
Tower I topped out in September 2017 and opened in mid-2018.
Design: 22 storeys, 189 luxury apartments with concierge and shared amenities.

2017-2020: Tower II
Tower II (33 storeys, 217 apartments) received planning approval in March 2017.
Completed in late 2019 / early 2020, becoming one of Birmingham's tallest residential buildings (100.5 metres).
Known for its modern, silver-toned facade. 

This stunning superior one bedroom apartment has been finished to an exceptional standard throughout and enjoys floor to ceiling windows providing plenty of natural light and amazing views. The accommodation, which simply must be viewed, has a large double bedroom, an open plan designer kitchen area with integrated appliances include washing machine, fridge and freezer, dishwasher. a designer bathroom. 

Permitted payments and tenant protection information

What reservation fees & rental funds will be asked for before moving in?

Essence Property would take a reservation deposit which covers the taking the property off the market while we commence referencing, this fee will be transferred to your deposit on move in (subject to passed referencing).To secure an apartment we must be in receipt of the reservation fee. Once acceptable references have been received and approved, a date will be agreed for the start of your tenancy. The tenancy agreement must be signed and the initial monies must be paid in full.

- Reservation deposit: Equivalent to one weeks rent
- First month's rent: Payable in advance of move in
- Deposit: Equivalent to five weeks rent, payable on or before the date of move in (must be cleared funds on the date of move in).


As well as paying the rent, you may also be required to make the following permitted payments.
Permitted payments

For properties in England, the Tenant Fees Act 2019 means that in addition to rent, lettings agents can only charge tenants (or anyone acting on the tenant's behalf) the following permitted payments:

* Holding deposits (a maximum of 1 week's rent);
* Deposits (a maximum deposit of 5 weeks' rent for annual rent below £50,000, or 6 weeks' rent for annual rental of £50,000 and above);
* Payments to change a tenancy agreement eg. change of sharer (capped at £50 or, if higher, any reasonable costs);
* Payments associated with early termination of a tenancy (capped at the landlord's loss or the agent's reasonably incurred costs);
* Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services "telephone, internet, cable/satellite television), TV licence;
* Council tax (payable to the billing authority);
* Interest payments for the late payment of rent (up to 3% above Bank of England's annual percentage rate);
* Reasonable costs for replacement of lost keys or other security devices;
* Contractual damages in the event of the tenant's default of a tenancy agreement; and
* Any other permitted payments under the Tenant Fees Act 2019 and regulations applicable at the relevant time.

For properties in Wales, the Renting Homes (Fees etc.) (Wales) Act 2019 means that in addition to rent, lettings agents can only charge tenants the following permitted payments
*Holding deposits (a maximum of 1 week's rent);
*Security deposits;
*Where required, utilities (electricity, gas or other fuel, water, sewerage), communication services "telephone, internet, cable/satellite television), TV licence;
*Council tax (payable to the billing authority);
*Payments for the late payment of rent (where required under the tenancy agreement);
*A breach of a term of the contract (where required under the tenancy agreement); and
*Any other permitted payments under the Renting Homes (Fees etc.) (Wales) Act and regulations applicable at the relevant time.

Tenant protection
In addition to publishing relevant fees, Essence Property Investment & Management is a member of Property Ombudsman (Property Redress Scheme).