Birmingham city council is set to unveil a £500m plan to transform one of the UK’s largest single-ownership redevelopment sites into a new family leisure quarter at MIPIM today.
Known as Birmingham Smithfield, the ambitious 10-year plan will see the regeneration of 35 acres of the city centre, including the controversial wholesale markets legacy site (once vacated) and the historic Irish Quarter, Gay Quarter and Gun Quarter.
The site is a natural extension to the Bullring shopping centre, which attracts over 40m visitors per year, and is also close to the revamped New Street station.
The scheme will deliver over 1m sq ft of new, mixed-use floorspace and 1,000 new homes – adding £470m GVA to the local economy. It will also feature high quality public realm and a series of new public spaces including Market Square – the focal point for the site, around which the new retail markets and family leisure quarter will be located.
The city’s Midland Metro tram system will be integrated into the site and bring Birmingham Smithfield within minutes of the proposed high-speed rail (HS2) terminus at nearby Curzon.
According to the scheme’s visioning document, Birmingham Smithfield will also be central to unlocking a much wider area for transformation along the River Rea Corridor.
Sir Albert Bore, leader of Birmingham city council, said: “The area’s heritage, dating back to 1166 with its focus on markets, will be central to its future transformation, with the name Birmingham Smithfield reflecting its unique history. While the area’s wholesale markets will move, its retail markets will be improved to encourage more niche and specialist traders.
Andy Street, chair of the Greater Birmingham & Solihull LEP, added: “Birmingham Smithfield’s status as part of the city centre enterprise zone will bring added impetus. The LEP is absolutely behind realising huge opportunities such as Birmingham Smithfield, and over £40m of enterprise zone funding has already been committed to supporting the delivery of these plans.”
Waheed Nazir, director of planning and regeneration at Birmingham council is heading up the project. He believed such an opportunity to be very rare, and said: “Birmingham Smithfield will radically enhance the city’s retail, visitor and residential offer, as well as unlocking the growth potential of a much wider area.
“By showcasing the scheme at MIPIM, we are directly targeting potential investors and developers to secure interest from across the globe.”
The council agreed to relocate Birmingham’s outdated wholesale markets to IM Properties’ Hub business park in Witton in January last year. The 21-acre site on Pershore Street is widely regarded as one of the best development opportunities in the city.
A launch in Birmingham on 19 March will see the start of an eight-week public consultation.
lisa.pilkington@estatesgazette.com
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