What makes Birmingham such a strong investment hotspot?
Birmingham is currently experiencing an unprecedented period of change as billions of pounds of investment transform the city’s economy. Over the next decade this will continue at a dramatic pace as new jobs, transport facilities and residential communities are delivered. The impact of this will see Birmingham realise its full potential, becoming a truly international city at the centre of a successful region and a driving force within the UK.
A recent report by Hometrack regarding the UK cities index states that Birmingham has experienced 6.5% growth over the past 12 months, in relation to the UK’s overall growth of 3.4%. A report by Savills also gives us the 5-year residential property forecast, predicting that the Midlands should see growth of 19.3% between 2019 and 2023 – so the future is very, very bright for Birmingham!
Part of the city’s exciting growth agenda will see 51,000 new homes, 100,000 new jobs and billions of pounds worth of investment in infrastructure. This growth will continue to strengthen the city’s national and international standing, placing it at the heart of an economic renaissance in the Midlands.
The Big City Plan has divided the city into seven quarters - each of which will build upon their individual characteristics and strengths. Leading up to 2031, each of these quarters will have their own proposed improvements and visions to create a diverse and cultural city.
The Southern Gateway is the largest of the quarters undergoing transformation, covering an area of 82 hectares and expands the City Centre Core southwards towards the River Rea and beyond. The catalyst for the transformation will be the creation of Birmingham Smithfield, a new destination for the city centre, covering a significant portion of the Southern Gateway.
Birmingham Smithfield Masterplan
Delivering upon the principal vision of the Big City Plan, the Birmingham Smithfield Masterplan, a key part of Birmingham’s evolving growth story, will transform the area into one of the largest and most attractive city centre development sites in the country. The next phase of major investment will see the Smithfield area become one of the UK’s premium business, tourist and retail destinations.
Birmingham Smithfield is a once in a generation opportunity to create a truly transformational development. With all the ingredients to become a hugely successful and exciting place, the Smithfield Masterplan will capitalise on the rich history of the area. The future vision includes new vibrant retail markets, family leisure amenities, cultural buildings, public squares and transport facilities, including the city centre terminus for High Speed 2.
The development of Smithfield will deliver radical improvements to accessibility and reconnect the site to the wider city. The enhancement of walking, cycling and public transport, and the creation of a consistent, high quality public realm will be central to the transformation of the area and the realisation of its huge potential.
From the earliest beginnings, as part of the city’s industrial development the Digbeth area has evolved to meet changes, constantly reinventing itself and adapting the built environment to meet the needs of the those who live and work there. Today, although most of the factories have gone and the canal is no longer carrying cargoes, it still has a certain creative buzz.
Future development will tap into the exciting new creative quarter that is flourishing in Digbeth. Neighbouring Birmingham Smithfield development, Digbeth is fast growing as a location for companies involved with digital technologies, design, media, TV production and arts.
The ambition for the area is to use its historic roots as a foundation for growing its established creative businesses and developing a vibrant urban community with entertainment, living and cultural opportunities. By embracing the existing building fabric and delivering a high quality, exciting, and safe public realm Digbeth will become a flourishing creative and cultural hub for the city.
Paradise is recognised as one of the most important city centre developments in the UK outside of London and is one of the biggest development schemes Birmingham has seen for a generation. It will be of pivotal importance to the rejuvenation of Birmingham city centre as a dynamic commercial destination, which will attract talent and global capital.
The latest chapter in Birmingham’s compelling story, Paradise is a location rich in British heritage and charm. Surrounded by the city’s finest cultural and civic architecture, Paradise is re-establishing vistas and forging Birmingham’s future by building on its past. With seamless links to and from all the city’s major districts, Paradise will be a leading commercial and leisure destination in Birmingham.
The £700M Paradise development is the most central regeneration scheme in Birmingham, making way for a host of new buildings for office, leisure and hotel use, as well as more open public areas and a Midland Metro tram stop. The aim is to create 10 new, grade ‘A’ office buildings, as well as retail, hotel and leisure. New public squares will provide a network of public spaces, creating a vibrant new destination for the city. A new hub for fantastic restaurants, cafés, shops and bars will make Paradise the ultimate destination for visitors and workers alike.
The Jewellery Quarter
Located only 10 minutes from Birmingham city centre, the Jewellery Quarter is an area of historic importance, with the largest concentration of businesses involved in the jewellery trade in Europe. The Jewellery Quarter features hundreds of listed buildings. A vast proportion of these buildings were once workshops and homes, for the jewellery makers of the 18th century. Many of the master jewellers still live and work there. In fact, around 500 jewellery-related businesses are still in existence today, including over 100 jewellery retailers.
The transformation of the area over the past decade has seen apartments and townhouses spring-up in converted buildings or from derelict land. This transformed the Quarter and created much needed facilities necessary for successful urban living. There are now over 7,000 residents in the Quarter and new retailers, restaurants and bars coming to the area in droves. So, it is no surprise that the Jewellery Quarter has become a hub for new business start-ups and entrepreneurs.
A £1.8 million grant from the Heritage Lottery Fund will further improve, repair and bring back into use some of the key historic properties in the area. Over the next 3 years the additional funding will assist with much needed conservation repairs, restore architectural features, improve the historic streetscape and help to bring historic buildings back into use, thus creating attractive, vibrant and interesting places where people will want to live, work and invest.
Overall, Birmingham will become a phenomenal city, for workers, residents, tourists and investors. If you would like to know more about some of our incredible 'off plan' opportunities at One BHM, Smithfield Place, Smithfield Square and Park View, you can find more information on our website. Alternatively, call us on 01603 268083.
To hear more on the Big City Master Plan, please click here
To hear more on the Smithfield Master Plan, please click here
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