With its recent history of growth, huge potential and highly competitive cost base, Greater Birmingham has gained an excellent reputation as a magnet for inward investment. Although we have identified challenges with long-term housing and employment land capacity to accommodate our growth ambitions, there are considerable commercial and residential opportunities to unlock across Greater Birmingham. A small selection of these opportunities is presented below.
Our City Centre Enterprise Zone was founded in 2011 to encourage business growth, investment and the creation of jobs. With its £275 million investment plan, it is the most successful Enterprise Zone in the country and is on course to create 40,000 new jobs, 1.385 million square metres of new floor space and to lever in £2.2 billion of private sector capital investment. The Enterprise Zone Extension and Curzon Investment Plan, which will maximise the benefits of HS2 arriving in Birmingham city centre, brings the total investment to over £1 billion, creating a further 36,000 jobs, 0.600 million square metres of floor space, 4,000 new homes and £1.7 billion of private sector investment over to 2046.
Birmingham Smithfield is one of the largest and most attractive city centre regeneration opportunities in the UK. Covering 14 hectares of land, the site has all the ingredients to become a hugely successful and vibrant space, yielding 300,000 square metres of commercial floor space and 2,000 homes, creating a legacy for the city and an international exemplar of sustainable development
UK Central in Solihull is a unique concentration of global businesses and strategic economic assets. By 2026, as part of the investment in high speed rail, the HS2 Interchange station will be at the heart of the Arden Cross development: a mixed use, 140 hectare global business hub with the potential for 245,000 square metre commercial space, 2,000 new homes and 20,000 jobs. It is the only development opportunity in the UK of its kind with an airport connected to a high speed rail terminal, a series of global businesses and at the heart of the strategic road and rail networks. In March 2017, UK Central published the Growth & Infrastructure Plan for the Hub. Masterplans for its key assets, including Birmingham Airport and the NEC, are forthcoming.
Redditch Eastern Gateway is an identified employment site situated on the outskirts of Redditch. The Gateway’s strategic location takes full advantage of the M40/M42 motorways and just a 20 minute drive time to Birmingham International Airport and railway station, with the potential for 100,000 square metres of high-profile employment development, 2,000 jobs and an additional £90 million of GVA.
The recent closure of the Rugeley Power Station has created a significant regeneration opportunity in Lichfield and Cannock Chase. A taskforce has been assembled to work with the owners of the site, and a planning brief has been created to guide future development at the site.