More than £20bn of development and investment opportunities have been identified by the West Midlands Combined Authority.
The WMCA, led by mayor Andy Street (pictured), has published its Investment Prospectus 2023, showcasing 29 investment opportunities across housing, commercial, regeneration and infrastructure projects.
The WMCA said the prospectus offered investors and developers “the chance to breathe new life into local communities and deliver transformational growth” through a series of private and public sector partnerships.
The schemes include a number of town and city centre regeneration schemes, including:
- The £1bn-plus Birmingham Curzon regeneration, which is seeking development funding and equity investors
- Finance for the £150m Coventry City Centre Cultural Gateway
- The £150m Creative Quarter, Royal Leamington Spa
- The £1.25bn Paradise Birmingham, which requires a development partner
- A development partner for the £110m redevelopment of Dudley Town Centre
- Development partners and funding for the £1bn-plus Birmingham Snow Hill regeneration
- Development partners and funding for the £350m Rugby town centre redevelopment
- Investors for the £350m Shrewsbury Riverside development
- The £350m regeneration of Solihull town centre including Eastgate, which requires a delivery partner
- Developers for the £170m Telford Town Centre Living Cluster
- A joint venture developer for the £100m Transforming Nuneaton regeneration
- Development partners for the £350m Walsall town centre regeneration
Street said: “More and more major national and, indeed, global players are recognising the investment opportunities on offer here in our region.”
The Investment Prospectus comes on the back of the new Deeper Devolution Deal signed with ministers this March, which secured £1.5bn in new funding from government, along with new powers covering housing, regeneration and transport. Street said this had given the West Midlands “even more levers to deliver for local people and our partners in the private sector”.
Mike Bird, WMCA portfolio holder for housing and land and leader of Walsall Council, added that the prospectus “sets out the profile and prestige of opportunities” and showed that the authority was “ready and willing to work collaboratively with like-minded investors to bring forward these exciting projects and help drive our region’s success”.
The WMCA covers 17 local councils. It has stated its intention to improve the region’s transport network, transform its derelict industrial land into new homes and workplaces, support existing businesses and help grow the innovative, green industries of the future.
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