Birmingham is experiencing one of the most exciting periods of regeneration and development in recent times, with a plethora of further investment opportunities ahead. World-class schemes, projects and masterplans are set to cement the region’s reputation as the engine of the UK economy.
The city is ideally placed at the heart of the country, offering exceptional connections to local, national and global networks. It is at the hub of the UK’s road and rail infrastructure – its airport handled more than 11.6 million passengers in the last year, with direct flights to cities in Europe, North America and Asia.
With the UK’s largest economy outside London, Birmingham is also its most entrepreneurial. More than 17,000 new companies were set up in Birmingham last year, more than any other regional city. It also surpassed London to have the country’s highest business growth rate in 2016. A major hub for financial services, it is attracting international firms including HSBC, Deutsche Bank and Lombard Risk Management.
The city continues to attract record investment from across the globe, securing 81 foreign direct investment projects during 2015/16, which created and safeguarded 5,176 jobs.
Birmingham provides more than a business case – it offers staff the best quality of life of any UK city outside London. The city welcomed more than 38 million visitors last year, attracting a record 1.1 million international visits. With a fabulous cultural offer, including the City of Birmingham Symphony Orchestra and Birmingham Hippodrome Theatre, which sells more tickets than any other UK theatre, and a world-famous food scene, it is easy to see why more Londoners are choosing to move to Birmingham than anywhere else in the UK.
Almost £1 billion of major developments in Birmingham are now complete and powering the region to compete on a global scale, including the £750 million redevelopment of Birmingham New Street station. But there is still lots more to come.
Birmingham will be at the heart of the UK High Speed Rail network providing a once in a century opportunity to radically enhance the city’s national rail connectivity and accelerate its economic growth potential. A brand new city centre HS2 station – Birmingham Curzon – is planned together with a National College for High Speed Rail.
The Birmingham Curzon Masterplan sets out Birmingham City Council’s aims for the station and demonstrates the regeneration potential of the area that could result in a £1.4bn economic uplift.
Birmingham Smithfield represents one of the largest and most attractive city centre regeneration opportunities in the UK. Covering 14 hectares of land, it will be able to capitalise on the rich history of the area, proximity to the major retail offer, the creative quarter and knowledge hub and the future city centre terminus for High Speed 2.
The future vision for Birmingham Smithfield includes new vibrant retail markets, exciting family leisure, cultural buildings, a residential neighbourhood, public squares and transport facilities. The site has capacity to deliver 300,000 sq m of new floorspace and 2,000 new homes, with an investment value of over £500 million.
The Birmingham Development Plan (BDP) was adopted by Birmingham City Council in January 2017 and sets out the growth strategy for the city, accounting for the projected increase in the city’s population by 150,000 by 2031. This includes delivering over 51,000 homes, 100,000 jobs and associated infrastructure.
Peddimore is identified as a key employment allocation in the BDP, helping to address the need for land to accommodate major national and international investment in the industrial and logistics sectors.
Peddimore is a greenfield site, occupying a strategic and highly accessible location on the north-eastern edge of Birmingham. It will deliver 71 hectares of developable employment land alongside the A38, where there will be a new strategic access point. Close to Junction 9 of the M6, the M1, M5, M40, M42 and M69 can all be reached in less than 30 minutes.