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6th Jul 2021|News|Sales|Lettings|New Homes|

‘Significant’ milestone reached for £1.9bn Smithfield regeneration scheme

The Smithfield Birmingham development reached a significant milestone as Lendlease and Birmingham City Council finalised a joint venture contract for the £1.9bn scheme, which has the potential to create over 8,000 new jobs in future years.

Creation of a new City quarter will provide local jobs, amenities and over 3,000 new homes for the city, as well as opening up wider opportunities for regeneration. The 17 hectares development will anchor an expanded city centre.

The vision for Smithfield Birmingham is to create a sustainable, green and inclusive place that puts people at the heart of the development. This once in a generation opportunity will include:

– A new home for the markets: A new home for the city’s valued historical Bull Ring markets, with a new destination market experience establishing Smithfield as a prestigious and globally recognised market district.

– High quality public spaces: Significant strengthening of the city centre’s authentic character with a major new public square, high quality spaces and public art.

– Better connectivity: Improved connectivity with the integration of the Metro, bus routes and prioritisation of pedestrians and cyclists.

– Retail and workspaces: Independent retail and a variety of workspace that will be attractive to small, growing and large businesses.

– Sustainable city living: Over 3,000 new homes in a healthy, sustainable and safe place with community facilities, a new public park, squares and active play for children.

– Outstanding leisure and culture: An outstanding leisure and cultural quarter, with live performances for all ages.

Work on a planning application for the scheme is underway, and a full public consultation will be held to work with the local community as more detailed plans are developed.

Councillor Ian Ward, leader of Birmingham City Council, said: “Smithfield Birmingham is a real once in a lifetime opportunity to create a new community in the heart of our city – and we are really excited to be working with Lendlease Europe, who have an internationally proven track record for bringing forward major developments like this.

“This £1.9bn development means jobs, homes and opportunities and Smithfield Birmingham will become a shining example of inclusive economic growth and will create a real legacy in the heart of Birmingham.”

Neil Martin, Lendlease’s chief executive officer in Europe, said: “This is a real landmark moment, and it is testament to the hard work and determination of everyone involved that we are now moving onto the point where we will work with the wider community to bring this development to life. As well as providing some fantastic new homes and vibrant workspaces in Birmingham, we’ll be helping create thousands of new jobs for the city over the future years.”

In January 2019, Birmingham City Council announced Lendlease as its preferred development partner for Smithfield Birmingham.

The chair of the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP), Tim Pile, said: “GBSLEP has allocated £2.3m of funding from its Enterprise Zone Investment Plan to enable the procurement process to go ahead. Smithfield Birmingham is a key project for the city which will provide high quality, sustainable city centre living as well as jobs and inward investment.

“As an LEP we have a unique triple helix structure of bringing local government, business and educational leaders together to identify key investment areas in the Enterprise Zone that drive inclusive economic growth. Working with Birmingham City Council, we are reviewing future grant requests to unlock and accelerate development on the Smithfield site which will benefit both our citizens and our city.”