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The phrase "admittedly it is" is correct and usable in written English.
You can use it when acknowledging a fact or situation that may be seen as negative or undesirable, while also affirming its truth.
Example: "Admittedly, it is a challenging task, but we are committed to overcoming the obstacles."
Alternatives: "It is true that" or "I must concede that."
Exact(59)
Admittedly it is expensive.
Admittedly, it is a thin hope.
"Admittedly, it is a narrow path".
Although admittedly it is like comparing Jessica Mauboy to Beyonce.
Admittedly, it is not his job to boost the euro on the currency markets.
Admittedly, it is not going about this in the most direct way, by revaluing the yuan.
Admittedly, it is not yet clear that this actually results in pay cuts (heaven forfend).
(Admittedly, it is easier to shine as an outsider than as a front-runner).
Admittedly, it is clean, comfortable and fast, with power sockets in first class.
Admittedly it is bad growth, but I'd rather have bad growth than no growth.
Admittedly, it is not that difficult to find all this free on the Internet.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com