Property investors and developers are being given the opportunity to play a major role in the transformation of Birmingham, following the launch of Birmingham Central Heart, a new vibrant, mixed-use neighbourhood in the city centre.
Birmingham City Council, along with key private sector and institutional partners, launched the ‘once in a generation’ opportunity at MIPIM, the international property conference in Cannes.
Bringing together several major city centre sites, including Martineau Galleries, Martineau Place, Cherry Street, Cannon Street, Carrs Lane, Union Street, 42 High Street, and City Arcade, Birmingham Central Heart will regenerate around four hectares of under-used retail and office space.
More than 5,000 new homes, over 400,000 sq m of commercial floorspace and more than seven hectares of new and improved public space, supported by new transport connections, are expected to be delivered. Approximately 8,000 jobs will also be created.
Joanne Roney CBE, managing director of Birmingham City Council, who’s leading the delegation at MIPIM, 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.”
Birmingham Central Heart will act as a key gateway between HS2 Curzon Street Station, the Bullring, New Street Station, the Colmore Business District and the wider city centre, with new linear green routes, safer streets for walking and cycling and better links to employment, education and cultural destinations.
The ambition is to double green space in the central area, creating new places to relax, play and meet in the city’s busiest streets.
Birmingham City Council has worked with major landowners, developers and Business Improvement Districts, including Central BID and Colmore BID, to develop a shared vision for the area and give investors certainty.
Councillor Sharon Thompson, Deputy Leader and Cabinet Member for Economy and Skills, said: “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.”
Birmingham Central Heart sits within the emerging Central Heart Growth Zone of the Birmingham Local Plan and is aligned with the Central Birmingham Framework 2045 and the Economy and Place Strategy, which identifies the area as critical to the city’s long-term growth.
Plans are also being brought forward to establish the Birmingham East Mayoral Development Corporation, a new statutory body expected to be formally in place by 2027, which will help accelerate regeneration, co‑ordinate infrastructure and unlock funding across Birmingham Central Heart, Digbeth and the wider east Birmingham and North Solihull area.
The council is working closely with regional and national partners, including the West Midlands Combined Authority and government backed finance institutions, to link Central Heart projects with appropriate funding streams.
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, said: “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.”
