Property investors and developers are being given a ‘once in a generation’ opportunity to play a major role in the transformation of Birmingham, following the launch of the Birmingham Central Heart mixed-use neighbourhood at MIPIM.
The neighbourhood includes several major city centre sites, including Martineau Galleries, Martineau Place, Cherry Street, Cannon Street, Carrs Lane, Union Street, 42 High Street and City Arcade,
When fully built out the sites will deliver more than 5,000 new homes, more than 400,000 sq m of commercial floorspace and more than seven hectares of new and improved public space, supported by new transport connections.
Joanne Roney CBE, managing director of Birmingham City Council, said: “The Birmingham Central Heart prospectus outlines one of the most exciting investment opportunities in the UK, but it is not just about buildings. Our message to investors is clear; if you want to back a growing, youthful, diverse city with a clear plan and a strong partnership between the council, business and communities, Birmingham is the place to invest.”
Sharon Thompson, deputy leader and cabinet member for economy and skills at Birmingham City Council, added: “By promoting these opportunities on the international stage, Birmingham City Council aims to bring forward development that will directly benefit businesses and residents across Birmingham. The city has a strong track record of delivering major development schemes, and working in partnership with our mayoral development corporation, business improvement districts, landowners, public sectors partners, investors and developers, our ambition is to turn the vision of Central Heart into reality.
“Securing responsible investment into Birmingham Central Heart is one of the most effective ways we can achieve this and in doing so deliver on our priorities of providing more new homes, workspaces and improved public realm in the city centre.”
Richard Parker, mayor of the West Midlands, said: “There’s never been a better time to invest in the West Midlands. With record funding and new devolved powers we are moving faster than ever to transform our region through projects like Central Heart Birmingham. My focus is not on grand visions that sit on paper, it’s on delivering prosperity that reaches all communities. That’s more homes, better-paid jobs, and the right infrastructure to give everyone the best opportunity to get on in life.
“We already have the confidence of the private sector with billions of pounds of investment coming into the Sports Quarter and Birmingham Knowledge Quarter, and we’ll go even further with Central Heart Birmingham as part of the HS2-led regeneration of the city.”
Ian Mulcahey, cities and urban design leader, strategy director and principal at Gensler, added: “The sign of a healthy city is one that has the agility to embrace change. Birmingham has the scale, ambition and momentum to compete on a global stage, and Central Heart provides investors with the clarity and confidence to support the next chapter of the city’s growth.”
Alex Neale, chief executive officer of Sphere Group, said: “Birmingham Central Heart represents a compelling long-term investment opportunity for the city. By bringing together a clear strategic vision, strong public private collaboration and a prime city centre location, the prospectus sets out a framework capable of unlocking significant economic growth and inward investment.”
