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Strong economic recovery boosts Greater Birmingham’s MIPIM hopes

Strong economic recovery boosts Greater Birmingham’s MIPIM hopes

🕔09.Mar 2015

City council bosses are confident of finally securing a private sector development partner to build the Icknield Port Loop housing scheme based around Birmingham’s canal network, twelve years after the idea was first mooted.

The 27-acre site in Ladywood is the largest parcel of brownfield land available for house building in the city and will be marketed at the international real estate show MIPIM in Cannes this week.

The council and the Canal and River Trust formed a limited liability partnership last year to press ahead with the project and are now seeking a partner to take a 50 per cent share.

While the scheme has been on the market since 2003, the recent strong revival of the Birmingham economy and growing interest in the city from inward investors has raised hopes that Icknield Port Loop will finally be built.

The site in Ladywood has outline planning permission for 1,150 homes, some with canal and reservoir frontages, 6,690 sq m of retail and commercial floor space, a hotel and swimming pool.

Located by Edgbaston Reservoir and surrounded by the local canal network, it is also within walking distance of Birmingham city centre. City council leader Sir Albert Bore said:

Icknield Port Loop is one of several areas around Birmingham that provide a real opportunity to create new homes, generate jobs and stimulate the city’s regeneration.

Showcasing the site during MIPIM will help us to find the right partner to move the scheme forward, and maximise its potential as a sustainable urban neighbourhood.

Waheed Nazir, director of planning and regeneration at the council, commented:

By 2031, we expect Birmingham’s population to have increased by some 150,000 people. It’s crucial to ensure that we make the best use of existing brownfield sites, with Icknield Port Loop an example of how they can be redesigned into high quality residential schemes.

The development of the site highlights how the public and private sectors can work together to address Birmingham’s future housing needs.

Birmingham City Council is one of over 30 public sector and industry partners taking part in the Greater Birmingham delegation at MIPIM this year.

This year’s delegation will be boosted by news that the former Selly Oak Hospital site has been acquired by developer Persimmon Homes for £100 million, after it was unveiled at MIPIM in 2014. The land has outline planning permission for 650 new homes.

Other major development schemes being showcased at MIPIM 2015 include:

Southern Gateway

The 8ha site, which is in council ownership, is based alongside the city centre’s business and retail areas and adjoins the Bullring shopping centre and New Street station and is close to the planned HS2 high speed rail terminus at Curzon.

As part of the city centre Enterprise Zone, it also benefits from considerable funding for infrastructure and site development. The plan for Southern Gateway will deliver a new city centre destination, offering family orientated leisure and residential.

Snow Hill

The aim is to transform Birmingham’s city centre business district and win further investment from global business, professional and financial services firms. A 20-year masterplan will generate over 200,000 sq m of new office space, build 4,000 residential units and boost the local economy by over £600 million each year. Changes to the district include the transformation of Snow Hill train station, and the creation of a new urban boulevard to improve accessibility to other parts of the city.

Curzon HS2 station

Birmingham’s city centre HS2 station is a catalyst to transform the city and unlock major regeneration sites. The Curzon HS2 masterplan will see 141 hectares of the city centre transformed. It sets out proposals to maximise regeneration potential, creating over 14,000 jobs, 600,000 sq metres of new employment floor space and 2,000 new homes.

Paradise

The £500 million Paradise site is located in the heart of the city centre enterprise zone. Its regeneration is the UK’s most important city centre development outside of London, according to the council, and will dramatically transform the city’s core. Construction on Paradise started in January 2015.

The regeneration of Paradise presents the opportunity for 1.8 million sq ft of mixed-use development, incorporating office, retail, leisure, civic and cultural hubs and a four-star hotel. The development will be set in a greatly enhanced, pedestrianised public realm aligned to its historic setting and city centre landmarks.

Chamberlain Files will be following events in Cannes from tomorrow with regular updates. You can find out more about Greater Birmingham’s delegation and events programme here. 

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