THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands

Page created by Christopher May
 
CONTINUE READING
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
THE UK’S
GROW TH CAPITAL
    2020 INVESTMENT PROSPECTUS
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
This is the
     West Midlands,
                                                                                  Edinburgh

                                                                     Belfast

 the UK’s Growth Capital.                                                                  Manchester
                                                                               Liverpool
                                                                   Dublin

       The place to create, innovate and build the future.
An entrepreneurial hub, with a pioneering spirit. A region where                                                         Amsterdam

 long-term, inclusive growth is driven by strategic leadership,
                                                                                                        London
responsible investment, world-class businesses and passionate                    Cardiff

                entrepreneurs. Invest with us.

                                                                                                                 Paris
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

Welcome to the

WEST MIDLANDS
WHERE PIONEERS MAKE THEIR MARK
Investors, more than ever, are looking for certainty and leadership. You need the reassurance that whatever
volatility affects the global economy, your capital investments will make appropriate long-term gains.
The West Midlands offers this reassurance. For centuries our           As Mayor of the West Midlands, I’m excited to be working
region has been at the strategic heart of the United Kingdom,          closely with a team of local leaders who are animated by the
as an entrepreneurial hub for transport, logistics, manufacturing,     same purpose: driving inclusive growth across our region.
trade and innovation. Today, the UK’s second largest city region,      With a background in business, at the helm of a leading UK
home to 4.7 million people, hosts a new generation of highly           retailer, I understand the importance of collaboration here
skilled people that continue to shape our future.                      in the West Midlands, which is the spirit that drives us.
We minted the first modern coin – and are now home to a major          By bringing the West Midlands under a single entity charged
FinTech hub. We invented the modern postal system and are now          with powering inclusive growth, the investor-friendly West
the UK’s first testbed for 5G, ushering in a new age of superfast      Midlands Combined Authority provides our region with the
connectivity. We created the first pneumatic tyres and are now         strategic leadership and local knowledge needed to succeed.
specialists in future transport systems, including autonomous          Supported by the UK Government’s ambitious Industrial Strategy,
vehicles. We are home to the birthplace of Shakespeare and             we are building tomorrow’s homes, creating vibrant and thriving
now have a thriving creative and media sector, as well as one of       mixed-use places, investing in world-class infrastructure, and
Europe’s fastest growing technology clusters, including a globally     transforming the West Midlands into the UK’s growth capital.
significant gaming industry.
                                                                       In this £10bn investment prospectus you can learn more about
A natural home for pioneers, we have a diverse, resilient economy,     the strength of our offer and the boldness of our vision. We are
one of the youngest and fastest growing populations in Europe,         the most promising place to invest in the UK – and, like all good
great quality of life, unrivalled connectivity, brilliant centres of   businesses, we have a plan and are delivering it.
learning, and world-class businesses, large and small.
All this provides a once-in-a-generation opportunity.
We are seizing it, and you can too.

                                                                       Andy Street

                                                                                                                                           Be part of our story.
                                                                       Mayor of the West Midlands

02                                                                                                                                                                 03
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

                                                  THE TIME TO INVEST
Birmingham’s New Street Station and Grand
Central shopping centre has undergone a £750m
revamp and is now a world-class transport and
retail hub, attracting £175m in investment from

                                                  IS NOW.
Canada’s largest pension fund.

                                                  There has never been a more exciting time for the West Midlands. With strong strategic leadership
                                                  in place through the West Midlands Combined Authority and a thriving and resilient economy the
                                                  region is primed for unprecedented growth. This £10bn investment prospectus provides a significant
                                                  opportunity to make your mark in our region. We can provide investors with a simple entry point into
                                                  our region, connecting you with the people that matter and guiding you every step of the way.
                                                  With the region’s population forecast to grow by half a million        The West Midlands has all the elements in place to provide investor
                                                  over the next 20 years – equivalent to a city the size of Bristol or   certainty and strong long-term growth. The region is open for
                                                  Liverpool – and wage levels expected to rise faster than anywhere      business and the time to invest is now.
                                                  else in the UK, demand will continue to grow for new, quality
                                                  homes, services and jobs.
                                                                                                                           DID YOU KNOW?
                                                  Our diverse economy is another key strength with expanding
                                                  finance, digital, life sciences, and advanced materials industries
                                                                                                                          •	The region boasts a trade surplus with the United States of £4.5bn
                                                  further fuelling the dynamism of the region’s globally leading
                                                  transport, logistics and advanced manufacturing sectors.                •	Birmingham has been named as the UK’s most
                                                                                                                            investable city by Europe’s top real estate investors
                                                  The West Midlands Combined Authority fully supports the vision
                                                  for an even more prosperous city region, with a Strategic Economic      •	Coventry’s rate of jobs creation from FDI is six times higher
                                                  Plan and Local Industrial Strategy backed by an £8bn 30-year              than other UK regional cities and double that of London
                                                  investment programme and a significant annual investment in
                                                                                                                          •	£5.1bn is being invested in High Speed 2 rail and local
                                                  providing job-specific training. It is no surprise therefore that
                                                                                                                            public transport
                                                  investors are increasingly keen to make their mark in the West
                                                  Midlands. Canadian pension fund CPPIB demonstrated this                 •	The National Exhibition Centre near Birmingham
                                                  confidence by investing over £200m into major commercial                  Airport is the UK’s top exhibition venue
                                                  developments in central Birmingham.                                     •	Wolverhampton’s £250m Integrated Transport Interchange
                                                  Two of the largest UK regional investments in recent years were           will provide a state-of-the-art connectivity hub for the region
                                                  made in the West Midlands. Totalling over £330m, these student
                                                  housing and logistics deals have earned yields over 5% for their
                                                  Singaporean and South Korean investors.

04                                                                                                                                                                                                05
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

YESTERDAY...
The birthplace of Shakespeare… and the first Industrial Revolution
                                                                     TODAY...
                                                                     Home to creators, makers and doers…
                                                                     and pioneering the Fourth Industrial Revolution

                                                                     • 	Accommodating one of Europe’s youngest
                                                                          populations with almost a third of
                                                                          residents under 25 years old
                                                                     • 	16,938 additional new homes built in 2019,
                                                                          up 15% on the previous year
                                                                     • 	145,000m2 of prime office space under
                                                                           development
                                                                     • 	The fastest-growing UK region for goods
                                                                           exports with 27% growth between 2015
                                                                           and 2017
                                                                     • 	The £107.5bn West Midlands economy
                                                                           has grown by 16.5% in the last six years
                                                                     • 	Cluster of 12,400 technology and
                                                                           digital companies
                                                                     • 	Home to global brands including Jaguar
                                                                          Land Rover, JCB, Cadbury and AGA
                                                                     • 	Global centre for innovation in future
                                                                           transport systems and supply chain firms

The Ironbridge, in Shropshire, was the first bridge
                                                                     • 	Birmingham is the UK’s most investable
in the world fabricated from cast iron, made nearby.                       city, as voted by 500 of Europe’s top real   The West Midlands is home to a
The area is now known as the ‘birthplace of the                            estate investment experts                    fast-growing data-driven health
Industrial Revolution’.                                                                                                 and life sciences sector.

06                                                                                                                                                    07
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

BE PART OF OUR
             TOMORROW
                                                   2019  • One of the fastest growing economies of any UK region
                                                   2021     • Hosting the UK’s City of Culture
                                                   2022     • Delivering the 2022 Commonwealth Games
                                                   2026     • High Speed 2 rail links to London in 38 minutes
                                                         • 500,000 new residents
                                                   2030 	
                                                          • 215,000 more homes
                                                           • 500,000 more jobs
                                                   2033	   •	High Speed 2 rail links to Manchester and Leeds keeping
                                                               the region at the heart of the UK’s five largest urban areas

High Speed 2, one of the biggest infrastructure
projects ever undertaken in the UK, will connect
the West Midlands to London, as well as the
North of England and Scotland.

08                                                                                                                            09
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

The West Midlands is thriving.
Located at the heart of the UK, we
have a youthful and diverse population
that is open and friendly. Close to
London, but without the stress, hassle
and expense of the capital, we are a
region of opportunity that is growing    LIVE                                                                                                             DID YOU KNOW?
fast, attracting global investment,      Bustling urban centres, quiet green
                                         suburbs or wide open spaces, the
                                                                                                         With many of the UK’s best schools, high
                                                                                                         levels of personal safety, affordable housing,   •	Most popular UK destination for
                                                                                                                                                            relocating Londoners

new businesses and residents, and
                                         West Midlands offers a vast range                               a wealth of green space, and a vibrant and
                                         of lifestyle choices alongside easily                           diverse population, the West Midlands is         • 1.3 million residents under 25
                                         accessible attractions and expanding                            fast becoming the UK destination of choice       •	Average home 60% cheaper

holding onto the talent nurtured here.
                                         cultural offerings.                                             for businesses, giving their employees a           than London
                                         Recent years have seen a renaissance across                     great place to live, learn, work and play.
                                                                                                                                                          •	Birmingham has one of the highest
                                         the West Midlands’ diverse urban centres.                                                                          proportions of green space of

Our people are creative, innovative,     Coventry is set to become the UK’s 2021
                                         City of Culture, and Birmingham will host the
                                         2022 Commonwealth Games, and the region
                                                                                                                                                            any UK city
                                                                                                                                                          •	Coventry has one of the fastest

passionate, and connected –
                                                                                                                                                            population growth rates in the UK
                                         boasts football clubs in the English Premier
                                         League and Championship – all of which
                                         truly puts the region in the global spotlight.

and we get things done.
Come and invest with us.                 The annual Godiva Festival held over three days in
                                         Coventry is the largest free family music festival in the UK.
                                         Coventry will become the UK’s City of Culture in 2021.

10                                                                                                                                                                                               11
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

                                                                                                                                             CONNECT
                                                                                                                                                                                                                                            DID YOU KNOW?
                                                                                                                                             Connectivity is king in the global economy.      Expanding infrastructure networks,
                                                                                                                                             With its strategic location at the heart         established global partnerships and tightly   •	90% of the UK population
                                                                                                                                             of the UK, the West Midlands is the best         connected clusters of high value businesses     within a four-hour drive
                                                                                                                                             connected city region in the country – by air,   saw the West Midlands welcome the UK’s        •	The largest bus network
                                                                                                                                             road and rail. Served by Birmingham Airport,     highest proportion of business visitors in      outside London
                                                                                                                                             one of the UK’s fastest-growing airports,        2016. Connections to the global economy       •	The UK’s first 5G testing hub
                                                                                                                                             local labour mobility is being enhanced by a     are being further enhanced by superfast         represents a £50m investment into
                                                                                                                                             £5.1bn investment to expand rail, tram and       broadband and 5G that will keep our             future mobility and connectivity
                                                                                                                                             bus rapid transit systems. High Speed 2 will     innovative businesses at the vanguard
                                                                                                                                                                                                                                            •	High Speed 2 to connect to
                                                                                                                                             provide even quicker rail connections to         of the Digital Age.
                                                                                                                                                                                                                                              London in 38 minutes by 2026
                                                                                                                                             London, Heathrow Airport and continental
                                                                                                                                                                                                                                              and provide quicker links to
                                                                                                                                             Europe, as well as to regional hubs in the
                                                                                                                                                                                                                                              Manchester (41 minutes) and
                                                                                                                                             North of England and Scotland.

LEARN
                                                                                                                                                                                                                                              Leeds (57 minutes) by 2033
                                                                                                                                                                                                                                            •	Rolling out 100% superfast
                                                                                                                                                                                                                                              broadband coverage
                                                                                            DID YOU KNOW?                                                                                                                                   •	Constructing Europe’s longest Bus
The West Midlands has always been             Our diverse population provides                                                                                                                                                                 Rapid Transit network with 125km
known for creativity, innovation, design      powerful connections to expand               The West Midlands has…
                                                                                                                                                                                                                                              of dedicated and enforced bus lanes
and making. We are home to the                professional networks globally, while        •	Nine universities, including
                                                                                                                                                                                                                                            •	The West Midlands has the
birthplace of Shakespeare and the Lunar       increasing the region’s cultural,              two in the World’s Top 100
                                                                                                                                                                                                                                              UK’s largest smartcard transport
Society, whose members helped shape           creative and culinary variety.               • 56,000 graduates a year                                                                                                                          scheme outside London
the Industrial Revolution. Today world-
                                              A multi-million-pound UK government-         •	Europe’s largest specialist
leading educational centres and a young
                                              backed skills deal will provide further        construction and built
and entrepreneurial population puts the
                                              digital and technical skills to ensure         environment campus
West Midlands at the cutting edge of
                                              employers can access the talent required     •	World-class business schools
creativity and innovation. A high number of
                                              to build the future. We are also working       producing more business students
pioneering startups reinforces a growing
                                              with leading employers to respond to           than any location outside London
reputation as the UK’s growth capital.
                                              labour shortages, create talent pipelines
With nine universities and top research       ahead of large projects and provide
institutions, Birmingham, Coventry and        in-work retraining to make jobs
Wolverhampton are brimming with               more sustainable.
                                                                                          Based in Wolverhampton, luggage label              The WMCA region attracted over 131
bright graduates, with many staying to                                                    Goodstart Jones is being supported by eBay         million visitors in 2018, an increase of
start businesses and build homes.                                                         in the UK-first Retail Revival innovation, aimed   2.6% (+3.4m visitors) over the past year.
                                                                                          at combining expertise in new online shopping      Birmingham Airport is undergoing a
                                                                                                                                             terminal transformation programme as part
                                                                                          habits with a tangible shopfront experience.
                                                                                                                                             of its long term £500m master plan vision.

12                                                                                                                                                                                                                                                                                  13
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

FROM WORKSHOP
OF THE WORLD...
Historically known as the ‘workshop of the world’, today the West
Midlands’ diverse range of thriving sectors and entrepreneurial
spirit continue to drive global innovation and change. Home
to both established global brands and a new generation of
businesses already shaping the future, the region is a natural
home for designers, creators, makers, innovators, and pioneers
who want to make their mark.
                                                                                                 DID YOU KNOW?
A unique mix of talented people, world-       Enterprise Zones based in Birmingham and
class research, business and government       Black Country provide unique benefits and         •	Connected and autonomous
investment has seen the West Midlands         incentives to businesses and further cluster        vehicles are potentially worth
transition from industrial heartland to       the area’s expertise in engineering, business       £50-100bn to the UK economy
high-tech hub, now home to Europe’s           and financial services, pharmaceuticals and       •	The West Midlands produces one
fastest growing technology cluster. With      healthcare, and automotive.                         third of the nearly two million vehicles
more patents for low carbon transport than                                                        manufactured annually in the UK
                                              Some of the world's best educational
anywhere else in Europe, the region is a                                                        •	Birmingham has the highest number
                                              facilities and our commitment to becoming
global centre for future transport systems                                                        of start-ups of any regional city
                                              the UK's leading region for job-related skills
and supply chain firms.
                                              development ensures we'll remain at the           •	Coventry's ratio of published
Our unusually high concentration of games     forefront of global innovation.                     patent applications is the UK's
development companies, with around                                                                second highest
130 in a cluster known as Silicon Spa, are
pioneering the Digital Age of augmented
and virtual reality, while the development
of advanced materials, bio-energy, FinTech,

                                                                                                                                              ...TO
future power systems and autonomous
vehicles will continue to shape the future.

14
                                                                                               The West Midlands is home to a high
                                                                                               concentration of gaming companies in a fast-
                                                                                               growing tech cluster known as Silicon Spa.     INNOVATION ENGINE   15
THE UK'S GROW TH CAPITAL - 2020 INVESTMENT PROSPECTUS - Invest in the West Midlands
The West Midlands Our Story

                                                                                                                                                     Future of Mobility                           •	Connected and Automated Vehicles
                                                                                                                                                                                                     (CAVs) – self-driving vehicle trials for
                                                                                                                                                     The West Midlands is the centre of

WORLD-CLASS OPPORTUNITIES
                                                                                                                                                                                                     the public beginning in the UK in 2021
                                                                                                                                                     transport innovation in the UK, leading
                                                                                                                                                                                                     and the West Midlands will deploy the
                                                                                                                                                     the smart, low carbon movement of people
                                                                                                                                                                                                     first fully operational CAVs in advance
                                                                                                                                                     and goods and connecting communities
                                                                                                                                                                                                     of the 2022 Commonwealth Games
Supported by our landmark Local Industrial Strategy, the West Midlands has a diverse,                                                                to new opportunities.
resilient and thriving economy, and four major new market opportunities.                                                                                                                          •	UK Battery Industrialisation Centre
                                                                                                                                                     Opportunities:
                                                                                                                                                                                                     (UKBIC) – a national facility and
                                                                                                                                                     •	Future Mobility Zone - the first to be       research technology organisation
                                                                                                                                                        established in the UK on a network of
                                                                                                                                                        over 50 miles of roads, and to develop    •	National Automotive Innovation
                                                                                                                                                        the next generation Electric and             Centre – creating and developing novel
                                                                                                                                                        Ultra-Low Emission Vehicles (ULEVs) and      technologies to reduce dependency on
                                                                                                                                                        Connected Autonomous Vehicles (CAVs)         fossil fuels and to reduce CO2 emissions

                                                                                                                                                     •	5G West Midlands Testbed for Mobility

Data-driven health                                Modern Services                                   Creative content,
and life sciences                                 The West Midlands is driving innovation           techniques and technologies
By leveraging value from investments in our       and demand through its globally relevant          The West Midlands is growing its core
world-leading research and clinical bases, the    cluster of business and professional services,    creative industries and creative design skills
West Midlands has already established itself      offering ‘full service’ provision at scale        and techniques as part of the transformation
as a leading centre for the evaluation and        unprecedented in any other UK city region.        of products, processes and services.
real-world application of health interventions.
                                                  Opportunities:                                    Opportunities:
Opportunities:                                    •	Largest and fastest growing sector in          •	A core sector generating over £4bn of GVA
•	Enable the region to access                       region, with highly paid, high-skilled roles      through 10,000 firms and 10 per cent of the
   state-of-the-art healthcare services                                                                UK games industry based in Silicon Spa
                                                  •	Driving business performance
•	Create a system that enables the rapid            across all sectors                             •	An advanced manufacturing sector
   adoption of digital technologies                                                                    comprising over 134,000 employees
                                                  •	Application of disruptive technologies and        across over 5,700 companies in a prime
•	Developing the West Midlands’                     5G to innovate next-generation services           position to drive innovation and adoption
   Health Technologies Cluster                                                                         of new opportunities for the sector
                                                  •	Compelling quality of life proposition
•	Developing a workforce equipped with              attracting and retaining top talent            •	The creation of Create Central,
   the digital and entrepreneurial skills                                                              an industry-led body turbo-charging
                                                  •	Internationally recognised research               games, TV and film industries in
•	Making the West Midlands the best                 centres for excellence for advanced               the West Midlands
   place to train, work, live and grow               services and responsible business
   a health technology business                                                                     •	Significant opportunities associated with
                                                                                                       Coventry’s UK City of Culture in 2021
16                                                                                                     and the 2022 Commonwealth Games                                                                                                          17
The West Midlands Our Story
                                                                                                                                     Birmingham              Coventry   Dudley               Sandwell

BOLD LEADERSHIP
STRONG PARTNERSHIPS
The West Midlands Combined Authority (WMCA) guarantees strong strategic leadership for the                                           Solihull                Walsall    Cannock Chase        North Warwickshire
region and a single entry point for investors, providing key insight, knowledge and connections.
Led by Mayor Andy Street, who ran John Lewis, one of the UK’s most successful retail businesses
for nearly a decade, the WMCA team work with local leaders to champion the region and boost
investment, economic growth, transport, housing and jobs.
Capitalising on a once-in-a-generation opportunity to power       The West Midlands is open to investment and business and
inclusive growth, the WMCA, with its first elected mayor,         we are working with our partners including the West Midlands
was established in 2017 to provide strategic leadership           Growth Company to attract jobs, investment, visitors and
across the region.                                                businesses to the area.
The WMCA works hand in glove with local leaders and partners,     The region has a relentless focus on delivery, with housing        Nuneaton and Bedworth   Redditch   Rugby                Shropshire
including the neighbouring East Midlands and larger Midlands      completions increasing at four times the national average in
Engine, to attract investment and drive inclusive growth.         recent years. We are now delivering on ambitious plans to
                                                                  transform the region’s diverse urban centres, unlock
As the fastest growing economy of any city region in the UK,
                                                                  brownfield land, and expand public transport.
with wage levels rising quicker than the rest of the country,
the West Midlands offers stellar investment opportunities.        With Coventry becoming the UK City of Culture in 2021 and
                                                                  Birmingham hosting the 2022 Commonwealth Games, the
Benefiting from a strategic approach to regeneration, transport
                                                                  region’s local and global reputation as a dynamic, cosmopolitan,
and growth and strong local networks, the WMCA has partnered
                                                                  open and business-friendly destination will continue to expand.
in major redevelopment projects, including the extensive
redevelopment around Birmingham’s central rail stations and
                                                                  The West Midlands Combined
Europe’s largest automotive R&D cluster.                          Authority brings together 17 local    Wolverhampton                Stratford-on-Avon       Tamworth   Telford and Wrekin   Warwickshire
                                                                  authority partners, all animated by
Three Local Enterprise Partnerships exist across the region,      same goal: driving inclusive growth
promoting collaboration on economic and employment                across the region.
growth between local businesses and local government.
The UK Government also fully supports the four pillars of our
Local Industrial Strategy: smart mobility; data-driven health
and life sciences; modern services; and creative content,
techniques and technologies.

18                                                                                                                                                                                                                19
The West Midlands Our Story

WE DELIVER                                      THE WEST MIDLANDS:
                                                A TRACK RECORD OF SUCCESS
                                                	Won the bid to host the UK City of Culture in 2021
The West Midlands is a place to innovate
– we embrace creators and makers and            	And the Commonwealth Games in 2022 − plans include a £60m
those with a pioneering spirit. But we are         state-of-the-art Sandwell Aquatics Centre
also a region of doers. Since the West
Midlands Combined Authority was created         	Secured a ground-breaking Devolution Deal in 2016, with a further
just three years ago, we have a strong track      £2bn devolved since then
record of success. Investors can be assured
that in the West Midlands they will find        	The £107.5bn West Midlands economy has grown by 16.5% in the last six years
dynamic and business-friendly partners
all animated by the same goal: driving          	 145,000m2 of prime office space under development
inclusive growth across the region. We can
help connect and guide you every step of        	Home to the UK's most investable city − as voted by 500 of Europe’s top real estate
the way. Together we can make it happen.           investment experts

                                                	 E
                                                    urope’s largest bank, HSBC, relocated its UK headquarters to the West Midlands
                                                   with 2,500 employees

                                                	 More jobs from foreign direct investment than any region outside London

                                                	 18,590 business registered in Birmingham in 2018, the highest outside London

                                                	£50m investment to develop the UK’s first 5G testing hub	

                                                	Delivering the first integrated public transport network outside London
Walsall born swimmer Ellie Simmonds,
who won five Paralympic gold medals, is now      £175m annually to provide the skills employers need to build the future
playing a leading role in organising the 2022
Commonwealth Games in Birmingham.
                                                 Additional new homes up from 6,839 (2011/12) to 16,938 (2018/19)
20                                                                                                                                       21
The West Midlands Make Your Mark

INVEST IN                                            This £10bn investment prospectus provides significant opportunity
                                                     to make your mark in the UK’s growth capital.
                                                     • 	Building tomorrow’s homes to accommodate the region’s growth, we will become a world

OUR FUTURE
                                                          leader in advanced methods of construction, placemaking, brownfield regeneration, urban
                                                          renewal and housing delivery

                                                     • 	 W
                                                           orking with visionary investors, developers, and architects we are creating great places
                                                          that are transforming our urban centres, leaving a legacy for generations to come

                                                     • 	With unprecedented backing from the UK Government we are delivering major strategic
                                                          infrastructure upgrades, including some of the largest projects in the country’s history

                                                     • With new expertise and investment we have unlocked a diverse range of challenging brownfield
                                                         regeneration sites including the largest brownfield housing site in the region (Friars Park)

                                                     • Working along new and existing transport corridors we will showcase portfolio corridor
                                                         investment opportunities making corridor thinking, planning and implementation the norm

The £700m Paradise Birmingham development,
delivered by Argent and Hermes and masterplanned
by Glenn Howells Architects, is one of the largest
and most important commercial developments
outside London.

22                                                                                                                                                      23
The West Midlands Make Your Mark
                                                                                                                                                                                                                                       This LoCal Homes factory in Walsall, using the latest in
                                                                                                                                                                                                                                       modern methods of construction, has capacity to produce
                                                                                                                                                                                                                                       1,000 high quality, energy efficient houses every year.

     INVEST IN
                                                                                                                                                                                                                                       Each home can be built in as little as one day.

     TOMORROW’S HOMES
     Harnessing the West Midlands’ entrepreneurial spirit, we believe in challenging the status quo and
     embracing new and innovative thinking. That also applies to housing, where we have a relentless
     focus on creating thoughtfully designed places, maximising our connectivity and delivering
     inclusive communities that bring together the very best practice in housing delivery, innovation
     in construction, regeneration, placemaking and urban transformation

     Housing completions have been increasing at four times the UK’s     Delivering more homes, diversifying an undersupplied rental stock
     average in recent years. In the last year alone overall housing     and maintaining housing affordability is central to ensuring the
     supply increased by 15% in just 1 year. As a strategic hub for      West Midlands remains a destination of choice. Supported by a
     advanced manufacturing and logistics, the region will become a      strategic approach to skills development, transport investment
     global leader in modern methods of construction, delivering high    and urban transformation the West Midlands will remain the most
     quality factory-made, digitally-enabled homes at scale and speed.   investor-friendly region for residential investment in the UK. We can
     With strong local and national government support and the largest   offer land for direct purchase, and the opportunity for joint venture
     developable brownfield land supply in the UK, the West Midlands     and public-private partnerships. We can also make introductions to
     is aiming to double housing delivery within a decade and triple     fast track the delivery of affordable housing and provide compelling
     the supply of affordable housing by 2031, with advanced methods     propositions. Join us in powering inclusive growth as we ensure
     of construction becoming the norm. A wave of brownfield sites       scale, pace and quality of development is achieved.
     which have been stalled and derelict because they were too
     difficult to develop have been unlocked by the WMCA working
     with its public and private sector partners – creating new homes,
     jobs and infrastructure for local communities and de-risking                                                                                DID YOU KNOW?
     private sector investment by positive public intervention.
                                                                                                                                                 •	The West Midlands has the UK’s second highest housing target – an average of 16,500 dwellings a year between now and and 2031,
                                                                                                                                                   and already ahead of trajectory
     BY 2031 THE WEST MIDLANDS WILL:
                                                                                                                                                 •	The region delivered an overall supply of 16,938 new homes in 2018 – that is more than double the figure just 7 years ago
 •	Increase affordable housing supply to 6,000 new completions annually
                                                                                                                                                 • The average home in Birmingham costs 7.3 times annual earnings versus 10.2 UK-wide and 17.8 in London
 •	Deploy the most advanced methods of manufacturing in construction in new
                                                                                                                                                 •	The region has created a public land disposals database to simplify planning and acquisition
   homes in line with the region’s advanced methods of construction strategy
                                                                                                                                                 •	The West Midlands’ residential property prices for 2017/18 grew 5.8% − one of the UK's fastest
 •	Secure high-quality design through a new regional design charter
                                                                                                                                                 •	Hong Kong investors put £300m into 1,000 new homes in Birmingham's city centre
 •	Deliver 16,500 new homes every year
                                                                                                                                                 •P
                                                                                                                                                   oor housing stock means one in 10 families struggle to heat their homes, representing a significant opportunity for new retrofitting
 • Deliver zero carbon buildings in line with the region’s 2041 Climate Change Action Plan.
                                                                                                                                                  technologies, aimed at tackling fuel poverty and improving sustainability and wellbeing
24                                                                                                                                                                                                                                                                                          25
The West Midlands Make Your Mark

                                                                                    INVEST IN GREAT PLACES
                                                                                    The West Midlands is undergoing a cultural and urban transformation. Robust partnerships
                                                                                    between commercial developers and public authorities are rapidly transforming the accessibility
                                                                                    and experience of the region’s urban centres, opening up new opportunities for workplaces,
                                                                                    retail, food and beverage, leisure and housing.
                                                                                    Large-scale regeneration in Birmingham, Coventry and                Our aspiration is to catalyse and deliver genuinely
                                                                                    Wolverhampton is only the start of this story. In smaller urban     high-quality development that supports strong and
                                                                                    centres across the region the WMCA’s urban town centre              socially inclusive communities. We will ensure that
                                                                                    improvement programme is further reviving their commercial          residents, businesses and visitors will enjoy the shared
                                                                                    appeal and redesigning the public realm.                            benefits, firmly establishing the region as the UK’s
                                                                                                                                                        destination of choice to live, learn, work and play.
                                                                                    Beyond our urban centres, strategic growth corridors where
                                                                                    development can be prioritised, aligned and accelerated have
                                                                                    been identified. New corridor investment plans are being created
                                                                                    for example along the Walsall to Wolverhampton and Sandwell           INCLUSIVE GROWTH CORRIDORS
                                                                                    to Dudley corridors to show investors and developers the
                                                                                    compelling vision, real estate evidence and different ingredients     •	Wolverhampton — Walsall: major regeneration and
                                                                                    and projects which make them great places to invest and build.          development opportunity, with circa £100m transport
                                                                                                                                                            upgrades planned to support the construction of over
                                                                                      URBAN TRANSFORMATION                                                  4,500 new homes, as well as major redevelopment in
                                                                                                                                                            Walsall and Wolverhampton urban centres
                                                                                                                                                          •	Sandwell — Dudley Metro Extension: the 11km Metro
                                                                                     •B
                                                                                       irmingham: £1bn+ Curzon Street High Speed 2 rail
                                                                                                                                                            extension between Wednesbury and Brierley Hill
                                                                                      station; Argent and Hermes’ £1bn, 7-hectare Paradise
                                                                                                                                                            links the Black Country with HS2 and supports the
                                                                                      project and LendLease’s £1.5bn 17—hectare Smithfield site
                                                                                                                                                            regeneration of Brierley Hill and Dudley town centres
                                                                                     •T
                                                                                       he Black Country: £6bn of investment opportunities                  − 17 new Metro stations will support investment and
                                                                                      in high density sites for residential, office, retail and             regeneration opportunities throughout the corridor.
                                                                                      technology enhances the region’s reputation as the UK’s
                                                                                                                                                          •	Perry Barr: the £280m Athletes Village for the 2022
                                                                                      largest high-value manufacturing cluster
                                                                                                                                                            Commonwealth Games provides the catalyst for
                                                                                     •	Wolverhampton: £3.7bn in urban regeneration                         regeneration of the wider area with an improved new
                                                                                        investment, with the former Springfield Brewery                     rail station, major public transport investment, and
                                                                                        becoming Europe’s largest specialist construction and               delivering new homes and jobs post-Games
                                                                                        built environment campus
                                                                                                                                                          •	Greater Icknield — Smethwick: major investment in land
                                   Designed by architect Allies & Morrison           •	Coventry: £700m Friargate development adding prime                  remediation and transportation improvements provide
                                   and developed by Cannon Kirk, Friargate is           office space, hotels, homes, shops, restaurants and                 a catalyst for a new mixed-use urban quarter just 10
                                   a 300,000m2 new mixed-use destination,               public space to the town centre                                     minutes from Birmingham city centre
                                   opening up a new green link into the town from
                                   Coventry’s soon-to-be upgraded rail station.
26                                                                                                                                                                                                                    27
The West Midlands Make Your Mark
                                                                                                                                           THE WEST MIDLANDS IS COMMITTED TO:

     INVEST IN WORLD-CLASS
                                                                                                                                           •	Investing up to £5bn in transport upgrades, to deliver an integrated world-class transport network and fully connect local transport
                                                                                                                                             networks and communities into our HS2 stations

     INFRASTRUCTURE
                                                                                                                                           •	Extending the West Midlands Metro system, by 30km by 2026, including the delivery of light rail extensions to Dudley-Brierley Hill
                                                                                                                                             and through East Birmingham to North Solihull and the High Speed 2 Interchange Station
                                                                                                                                           • Delivering £50m in investment to create the UK’s first multi-city 5G testbed across Birmingham, Wolverhampton and Coventry
     The West Midlands lies at the strategic heart of the UK, as an entrepreneurial hub for transport,                                     • Delivering the UK’s first Future Mobility Zone and the UK’s largest connected and autonomous vehicles testbed
     logistics, manufacturing, trade, health and innovation. To enhance its global position and to secure
                                                                                                                                           •	Delivering the biggest station and infrastructure investment programme for a generation – building seven new suburban rail
     sustainable growth, the region is now undertaking major infrastructure improvements, including                                          stations, reopening 31km of track new passengers and providing 20,000 new seats
     some of the biggest investments in UK history and the UK’s first 5G testbed.
                                                                                                                                           • Investing up £100m, in time for Birmingham 2022, to deliver the longest bus rapid transit system in Europe
     This unprecedented programme includes major rail projects         To remain at the cutting edge of the digital revolution, the        • Delivering a network of new cross city bus routes and supporting town centres in order to promote inclusive growth
     such as High Speed 2, local transport improvements, including     region is rolling out 100% superfast broadband coverage.
     the first integrated public transport network outside London,     We are also hosting the UK’s first and largest public test
     ensuring places, homes and businesses remain highly               environment for 5G as well as trialling connected and
     connected, driving inclusive growth while lowering emissions.     autonomous vehicles, both important pillars of the UK’s
                                                                       industrial strategy.
     A £5.1bn investment is underway to expand rail and tram
     networks, including new stations in congested areas and bus       An annual energy bill of £10bn and significant development
     rapid transit lines to connect to key development sites. The      and investment plans provide a platform for local clean energy
     West Midlands will also boast two High Speed 2 rail stations,     innovators to grow into major export businesses. The region
     with £1.1bn being invested in strategic station upgrades to       is also committed to playing a major part in delivering carbon
     improve capacity across the region. The UK government is          neutral growth and hosts many of the UK’s leading energy
     investing £2.9bn in 234km of smart highways radiating from        research institutions.
     Birmingham and 11 major road schemes supporting housing
                                                                       Opportunities for infrastructure innovators and investors to
     and growth across the region.
                                                                       make their mark are significant – supported by a clear strategy
                                                                       for inclusive growth and strong leadership.
 DID YOU KNOW?

 •	The West Midlands has an annual energy bill at £10bn, second only to London
 •	The clean energy sector generates £134,638 GVA per employee, more than double the UK average
 •	The West Midlands manages the largest public bus network outside London, with a clear
   commitment to a clean fleet by 2020
 • High Speed 2 will increase access to and around one of the UK’s fastest growing airports
 •	90% of UK businesses are located within a four-hour drive from the West Midlands
                                                                                                                                         The West Midlands is hosting the
                                                                                                                                         UK’s first testbed for 5G technology
                                                                                                                                         and autonomous vehicles, putting
                                                                                                                                         the region at the leading edge of the
                                                                                                                                         fourth Industrial Revolution.
28                                                                                                                                                                                                                                                                                   29
The West Midlands Make Your Mark

...

      INVEST IN THE WEST MIDLANDS...                                                                                                                  AND IN OUR FUTURE
      A region that supports inclusive growth − doing things differently, and doing them better.                                                      We are the most promising place to invest in the UK – offering unprecedented
                                                                                                                                                      growth opportunity; strong strategic leadership and a thriving and diverse economy.
      The West Midlands Combined Authority brings local authorities          This means going beyond the usual ways of working – and doing
      together under a single strategic entity committed to driving          more to make sure that inclusive growth is at the heart of our plans     A region that gave birth to the Industrial Revolution is now   We are on an exciting journey. Join us on it.
      inclusive growth across the region. We have an ambitious               for the region. We are the most promising place to invest in the         pioneering the new industries and technologies that will       We can help you every step of the way.
      growth strategy that is already delivering; creating good jobs,        UK – we have a clear vision and a strategy for delivering it and can     shape our future. We are young, entrepreneurial and creative
      real skills progression and a pipeline of developments that will       provide you with the reassurance that your capital investments will      − and are fast becoming the UK destination of choice.
      benefit all of our communities.                                        make appropriate long-term gains. Together we are committed to
                                                                             doing things differently, and doing them better. Join us.
      Investing in the West Midlands means investing in our
      communities: they are vibrant, diverse and welcoming.
      They are your future talent and your future market. That
      is why we want inclusive growth to ensure that all our                 CONNECTING COMMUNITIES
      communities have a chance to contribute and benefit.                   Our plans actively support housing and infrastructure
                                                                             development in places, and for people, that need it the most.
                                                                             This means new transport connectivity that connects outlying
                                                                             communities with centres of job growth and economic
      GREAT HOMES AND PLACES
                                                                             prosperity. It means working with our public service partners
      We are committed to not just building houses, but building homes,      to make sure the social infrastructure in our places is modern,
      communities and vibrant places where people can live and work          connected and helps support resilient communities that can
      together with pride. So we will promote wellbeing by design, quality   play their part.
      across the board, and we will measure success on how inclusive
      our development has been – on the ROI to society, as well as the        FORWARD-THINKING PARTNERS
      economy. The WMCA operates a single funding portal (the single          Inclusive growth means ensuring all of our communities benefit
      commissioning framework) for all devolved housing and land              from the value growth and development creates. We cannot
      funds – a convenient means to access the investment developers          accept economic growth that leaves our communities behind,
      and investors need to unlock their housing and regeneration sites       so we will work tirelessly to recognise partners who want to
      with clear rules of the game on eligibility and decision-making         invest in our places for the right reasons, to leave a real legacy
      timeframes. The framework puts inclusive growth and placemaking         for our citizens and communities. This is forward-thinking,
      front and centre of every investment decision.                          responsible investment with a shared reward.
      BUILDING SOCIAL VALUE
      We are resolutely focused on growing the social economy in the
      region – through our commitment to social value procurement
      and supply chain development that proactively includes local
      businesses that develop skills, wealth and expertise within our
                                                                                                                                                    Central Birmingham is being
      communities. We want partnerships that can grow this ethos and
                                                                                                                                                    transformed by the £700m Paradise
      help leave a lasting legacy of social value in the West Midlands.       The Gravelly Hill Interchange, opened in 1972 in the West Midlands,   project, as well as the recent opening
                                                                              is the world’s first ‘spaghetti junction’.                            of HSBC’s UK head office.
30                                                                                                                                                                                                                                                                   31
THE UK’S BEST                                                                                                                                                                                                                              AIR
CONNECTED REGION                                                                                                                                                                                    Birmingham Airport has embarked on a major three year £65m
                                                                                                                                                                                                   terminal transformation project to enlarge the departure lounge
                                                                                                                                                     Edinburgh
                                                                                                                                                                                                  and passenger security search area, as well as introducing further
                                                                                                                                                                                                    self-service bag drop kiosks and additional baggage carousels

                                                                                                                                                                                                      This work is the first phase of a 15 year vision which will
                                                                                                                                                                                                  accommodate the forecasted growth in passenger numbers from

                                   RAIL                                                                                                                                    Newcastle
                                                                                                                                                                                                         the current 12.7m today to 18m by the year 2033

                                                                                                                                                                                                       Birmingham Airport serves more than 400 direct or one stop
                                                                                                                                                                                                      destinations globally with 50 airlines and is the UK’s fifth largest
                                                                                                                                                                                                      airport with the highest percentage of business travellers after
      High Speed 2 will reduce travel time into London to                                                                        Belfast
                                                                                                                                                                                                                            London Heathrow.
 38 minutes by 2026, with journey times to Heathrow Airport
 cut to just one hour, quicker than from many parts of London                                                                                                                                                West Midlands is one of the UK’s fastest growing
                                                                                                                                                                                                              regions for international visitors – attracting
        Phase 2 of High Speed 2 will halve travel times
                                                                                                                                                                                                               a record 1.9 million overseas visitors in 2017
             to Manchester and Leeds by 2033                                                                                                                                   Leeds

         Birmingham New Street is the UK’s busiest
             passenger station outside London                                                                                                                     Manchester
                                                                                                                                                     Liverpool
                                                                                                                        Dublin
         Around £1.1bn investment in strategic stations,
     including £700m in Birmingham New Street; £200m                                                                                                                                                                                                                  PUBLIC
      in Birmingham International; £82m in Coventry and
               £132m in Wolverhampton Station
                                                                                                                                                                                                                                                                      TRANSPORT
                                                                                                                                                Wolverhampton                                                                                      Over £5bn is being invested in transport upgrades,
                                                                                            ROAD
                                                                                                                                                                                  Coventry
                                                                                                                                                                                                                                                     delivering an integrated world-class network
                                                                                                                                                                   Birmingham
                                                                                                                                                                                                                                           Metro and rail public transport usage continue to increase across
                                                                 90% of the UK population within a four-hour drive                                                                                                                           the West Midlands, peaking at almost 40% of all trips into
                                                                                                                                                                                                                                                     Birmingham during the morning rush-hour
                                                                Forms the backbone of the UK’s ‘golden triangle’ with
                                                                  more warehouse space for logistics than London,                                                                                                                       The £1.3bn West Midland Metro expansion will triple the network size,
                                                                           Scotland and Wales combined                                     Cardiff                                                                                     add 50 additional trams by 2026, increasing passenger numbers from 7.2
                                                                                                                                                                 Bristol                     London                                     million to 30 million and interchanging with both High Speed 2 stations
                                                                    Within four hours by road of nine of the UK’s
                                                                  13 major ports, including Dover, Europe’s busiest                                                                                                                          Investing up to £100m, in time for Birmingham 2022, to deliver
                                                                  passenger port and Felixstowe, the UK’s biggest                                                                                                                                    our flagship bus rapid transit system in Europe.
                                                                             and busiest container port                                                                                                                                      Bus is the backbone of the West Midlands transport network
                                                                    234km of Smart Motorway being delivered                                                                                                                               carrying 80% of all public transport trips. The region has the largest
                                                                     to improve links from the West Midlands                                                                                                                               bus network in the UK (outside of London), with over 2000 buses
                                                                           to London and Manchester                                                                                                                                           and 260 million journeys per annum, across 300 bus routes
The West Midlands Make Your Mark

                                                                                                                        £10bn of investment
INVEST IN US                                                                                                            opportunities inside.
The West Midlands Mayor and Combined Authority provide strategic leadership for
the region and offer a soft landing for investors looking to make their mark. Strong
relationships with local partners and businesses gives us the contacts, knowledge                                       Now make your mark.
and expertise to simplify your entry into our region.

Clive Heaphy                  Martin Reeves               Kevin O’Keefe,                  David Stevens,
CEO Birmingham City Council   CEO Coventry City Council   CEO Dudley Council              CEO Sandwell Council

Deborah Cadman                Neil Rami
CEO West Midlands             CEO West Midlands
Combined Authority            Growth Company

Nick Page                     Dr Helen Paterson           Tim Johnson
CEO Solihull Council          CEO Walsall Council         CEO City of Wolverhampton Council

Discover how this amazing city region is once again the place to be.
Come and talk to us.
investinus@wmca.org.uk                                                                               www.wmgrowth.com
32
INVESTMENT INDEX AND WEST MIDLANDS MARKET DATA

CURRENT INVESTMENT                               COMING SOON
OPPORTUNITIES                                    TO INVESTORS                                     ONES TO WATCH

01 Birmingham Curzon                             01 B
                                                     irmingham International Station             01 Creative Quarter Royal Leamington Spa

02 Eastgate, Church Hill/Homer Road,               Integrated Transport Exchange Solihull        02 Former Ironbridge Power Station
    Solihull Town Centre                         02 City Centre South Coventry                    03 Springfield Campus Wolverhampton
03 Friargate Coventry                            03 D
                                                     Y5 Dudley’s Business                        04 Walsall Town Centre
04 i54 South Staffordshire Western Extension        and Innovation Enterprise Zone                05 West Bromwich Eastern Quarter
05 I nterchange Commercial District             04 Dudley Town Centre
    and Canalside Living Quarter Wolverhampton   05 Friar Park, Sandwell                          MARKET DATA
06 M
    IRA Technology Park Southern                06 G
                                                     reater Icknield and Smethwick
   Manufacturing Sector Nuneaton                 07 M6 Junction 10 Cluster Walsall                01 West Midlands Housing Data
07 Paradise Birmingham                                                                            02 West Midlands Investment Market
                                                 08 P
                                                     erry Barr Regeneration, Commonwealth
08 Telford Investment Cluster                       Games 2022 and Legacy                         03 West Midlands Logistics Data

                                                 09 The Brewers Yard Wolverhampton                04 West Midlands Retail Data

                                                 10 Transforming Nuneaton
                                                 11 UK Central Hub and HS2 Interchange Solihull
CURRENT INVESTMENT OPPORTUNITIES                                                                                                                                                                                                                                                          01

Birmingham Curzon                                                                                                                BACKGROUND
                                                                                                                                 Birmingham will be at the heart of the UK High Speed Rail network providing
                                                                                                                                                                                                                 The arrival of HS2 will be the catalyst to unlock and accelerate a range of
                                                                                                                                                                                                                 development and regeneration initiatives including an expansion of the city’s
                                                                                                                                                                                                                 office core as well as opportunities around the Science Park and Knowledge
                                                                                                                                 a once-in-a-century opportunity to radically enhance the city’s national rail
Birmingham Curzon is a 141 hectare regeneration area at                                                                                                                                                          Hub, which is home to five universities and colleges and 25,000 students.
                                                                                                                                 connectivity, and accelerate its economic growth potential. A brand new
the heart of the city and the UK High Speed rail network.                                                                        city centre HS2 station, Birmingham Curzon, will be the catalyst for a major
                                                                                                                                                                                                                 The Creative Quarter centred on Digbeth, Birmingham’s former industrial
                                                                                                                                 mixed-use regeneration scheme in a prime location. The Curzon masterplan
                                                                                                                                                                                                                 heartland, is a key part of the Curzon regeneration area and home to more
                                                                                                                                 sets out the City Council’s aims for the station and demonstrates the
                                                                                                                                                                                                                 than 400 creative companies making it a powerful digital hub. Digbeth has an
OPPORTUNITY                                                                                                                      regeneration potential of the surrounding 141 hectares that could result
                                                                                                                                                                                                                 eclectic mix of street art, music venues, street food vendors, bars and pubs
Centred around a new High Speed 2 (HS2) terminus station a number of major                                                       in a £4bn economic uplift.
                                                                                                                                                                                                                 and regeneration plans aim to enhance its distinctive character and heritage
investment opportunities exist for parties interested in exploring development                                                                                                                                   buildings as well as providing scope for new commercial development.
                                                                                                                    Birmingham
partner/funder and equity investment on sites ranging up to 3.3 hectares and
covering a selection of commercial and residential uses. Birmingham City Council
                                                                                                                                 DESCRIPTION
as promoter is working with Homes England as well as private sector landowners                                                   The 141 hectare regeneration area comprises over 30 strategic development       PROMOTER AND PARTNERSHIPS
to help bring forward investable development projects within the Curzon                                                          opportunities and is within the extended City Centre Enterprise Zone. These
                                                                                                                                                                                                                 Birmingham City Council as promoter is working in partnership with public
regeneration area. There is a strategic opportunity to help shape projects at an                                                 sites can provide around 4,000 new homes and 600,000m2 of commercial,
                                                                                                                                                                                                                 and private sector landowners to bring forward development as well as the
early stage, as these are expected to come forward over the next 2–5 years.                                                      leisure and market floorspace.
                                                                                                                                                                                                                 Greater Birmingham Solihull Local Economic Partnership and West Midlands
                                                                                                                                                                                                                 Combined Authority to provide infrastructure funding.
                                                                                                                                 With preparatory work underway the station will be operational by 2029.
                                                                                   THE FACTS                                     A £724m investment programme has been agreed with the UK Government
                                                                                                                                 for Curzon, which will integrate the station into the city centre, lead to
                                                                                   Promoter:
                                                                                                                                                                                                                 LOCATION
                                                                                                                                 the expansion of the Midland Metro network and provide the necessary
                                                                                   Birmingham City Council and                   infrastructure to unlock key sites bringing growth and development forward      The Curzon HS2 terminus occupies a city centre location adjacent to main
                                                                                   multiple private landowners                   within the city and beyond.                                                     retail, and business districts as well as Creative Quarter and the Knowledge
                                                                                                                                                                                                                 Hub and benefits from exceptional local and regional connectivity.
                                                                                   Scale:
                                                                                   £1bn+ GDV
                                                                                   Sector:
                                                                                   Office, Residential, Hotel and Leisure
                                                                                   Location:
                                                                                   Birmingham City Centre
                                                                                   Investment Type:
                                                                                   Development partner/funder; Equity investor
                                                                                   Programme:
                                                                                   2020–2036
                                                                                   Planning Status:
                                                                                   Strategic masterplan in place
                                                                                   Website:
                                                                                   www.birmingham.gov.uk/birminghamcurzonhs2
CURRENT INVESTMENT OPPORTUNITIES                                                                                                                                                                                                                                                                              02

Eastgate,                                                                                                                                BACKGROUND
                                                                                                                                         Solihull town centre is already a leading regional retail, leisure and office location
                                                                                                                                                                                                                                  •T
                                                                                                                                                                                                                                    he delivery of retail, leisure, Food & Beverage and ancillary uses to create
                                                                                                                                                                                                                                   a distinctive, vibrant new quarter within the town - enhancing activity

Church Hill/Homer Road,
                                                                                                                                                                                                                                   throughout the day and into the evening, in a scheme that is connected
                                                                                                                                         with a number of high profile occupiers and international retailers and brands.
                                                                                                                                                                                                                                   to, and integrated with the rest of the town centre
                                                                                                                                         The Solihull Town Centre Masterplan identifies the strategic development

Solihull Town Centre
                                                                                                                                                                                                                                  •T
                                                                                                                                                                                                                                    o provide a good mix of quality private and affordable housing units within
                                                                                                                                         opportunity sites in the town centre, as well as the additional infrastructure
                                                                                                                                                                                                                                   an attractive setting, including community space, which connects with and
                                                                                                                                         requirements necessary to facilitate this development and wider growth.
                                                                                                                                                                                                                                   supports the vitality of the wider town centre

Solihull Town Centre presents a range of occupier,                                                                                       Investment in accessibility through improved junctions, corridors and public
                                                                                                                                                                                                                                  •T
                                                                                                                                                                                                                                    he provision of attractive and high-quality public spaces including a
                                                                                                                                         realm across the centre is underway, creating connected quarters and supporting
investment and development partner opportunities.                                                                             Solihull   development. Designs are being developed for a new Integrated Transport Hub
                                                                                                                                                                                                                                   significant new public space for the town centre and linkages to create a
                                                                                                                                                                                                                                   lively hub and meeting place for residents, workers, shoppers and customers
                                                                                                                                         at Solihull rail station, incorporating new facilities and development, alongside a
                                                                                                                                         pioneering Low Carbon Energy Network, reducing operational costs for new and
OPPORTUNITY                                                                                                                                                                                                                       • To improve town centre permeability and pedestrian flows through
                                                                                                                                         existing commercial and public sector schemes.
Through a phased development approach, the Business & Commercial Quarter                                                                                                                                                             the provision of high-quality linkages, spaces, paths and other
offers opportunities from 2020, the first being the Council’s Westgate scheme to                                                                                                                                                     transport movements
                                                                                                                                         The first opportunity site to come to market, led by the Council, is the
deliver 10,600m2 of Grade A office and collaborative space at the head of Homer                                                          10,600m2, Grade A office development Westgate: 21 Homer Road – delivering
Road between the town centre and rail station. The building will be ready for                                                            prime collaborative working spaces in a key location between the High Street
occupation in Summer 2022 and occupier interest is invited.                                                                                                                                                                       PROMOTER AND PARTNERSHIPS
                                                                                                                                         and Solihull rail station.
                                                                                                                                                                                                                                  The site is under the majority ownership of Solihull Metropolitan Borough
Solihull Metropolitan Borough Council are also inviting developers to engage and
                                                                                                                                         Bookending the Business & Commercial Quarter, the Eastgate, Church Hill/                 Council, with third party ownerships to the north of the masterplan site
explore innovative design and delivery solutions for the development of Eastgate,
                                                                                                                                         Homer Road site is strategically significant with connectivity into the High             alongside the High Street.
Church Hill/Homer Road - a prime site within the Quarter. The site will incorporate
civic and office functions for the Council alongside prime residential and mixed-                                                        Street Retail Core. Its scale and potential are highly significant for Solihull.
                                                                                                                                                                                                                                  The site is being promoted by Solihull Metropolitan Borough Council,
use retail and leisure opportunities at the heart of Solihull town centre.
                                                                                                                                                                                                                                  supported by the West Midlands Combined Authority.
                                                                                      THE FACTS                                          DESCRIPTION
                                                                                                                                         The project objectives for the Eastgate site and the desired outputs are:
                                                                                      Promoter:                                                                                                                                   LOCATION
                                                                                      Solihull Metropolitan Borough Council                                                                                                       Located immediately off Junction 5 of the M42 Motorway, the town
                                                                                                                                         • The re-provision of Council accommodation as an ancillary occupation,
                                                                                      Scale:                                                which offers public facing co-located services within a building which is             centre offers exceptional connectivity via road and rail. Solihull town
                                                                                      £100m+ GDV                                            flexible and capable of adapting to future change                                     centre is minutes away from Birmingham Airport, connecting to 140 direct
                                                                                                                                                                                                                                  international destinations, and the planned High Speed Interchange station
                                                                                      Sector:
                                                                                                                                                                                                                                  connecting to London in 38 minutes.
                                                                                      Housing, Commercial and Retail
                                                                                      Location:
                                                                                      Solihull Town Centre
                                                                                      Investment Type:
                                                                                      Development Partner
                                                                                      Programme:
                                                                                      Market engagement commencing in Spring 2020.
                                                                                      Preferred bidder stage currently programmed
                                                                                      for Spring 2021
                                                                                      Planning Status:
                                                                                      Town Centre site with existing town centre uses
                                                                                      Website:
                                                                                      www.investinukcentral.com
                                                                                                                                         Westgate, 21 Homer Road
CURRENT INVESTMENT OPPORTUNITIES                                                                                                                                                                                                                                                                     03

Friargate Coventry                                                                                                                       BACKGROUND
                                                                                                                                         Less than one hour from London, Friargate is one of the largest mixed-use
                                                                                                                                                                                                                           DESCRIPTION
                                                                                                                                                                                                                           The whole development will provide 297,290m2 and generate 15,000 new jobs.
                                                                                                                                         developments in the West Midlands. An ambitious new business destination,         In total, Friargate will deliver 25 sustainable new buildings including 213,677m2
Friargate is an Office-led mixed-use and multi-phase                                                                                     Friargate is delivering prime new office space, hotels, homes, shops,             of Grade A offices, two hotels, 19,974m2 of retail, up to 400 new homes plus
development providing many options for investment.                                                                                       restaurants and public space – all next to Coventry railway station               10,219m2 of leisure space.
                                                                                                                                         and a five minute walk from the city centre.
                                                                                                                                                                                                                           Planning Consent for a second office building, Two Friargate, has been
OPPORTUNITY                                                                                                                              Selected as UK City of Culture in 2021 and taking part in the 2022 Commonwealth   granted, extending to 12,635m2 net. Detailed construction design is
Friargate JV Project Limited is open to various investment structures                                                                    Games, Coventry is a city very much on the rise. One Friargate completed in       underway to deliver a contemporary Grade A office building, perfect
to accelerate the delivery of future phases including offices, residential,                                                              September 2017 and fully occupied with 2,323m2 of the 11,613m2 floorspace let     for modern business. The hotel is further advanced with planning
retail, leisure and hotels.                                                                                                   Coventry   to The Financial Ombudsman Service, an inward investor with a view to possible    consent and a contractor appointed in readiness for a start on site
                                                                                                                                         expansion as further buildings are brought forward.
Friargate has already delivered a framework of new infrastructure, new
public spaces and the first high quality office building, One Friargate,                                                                 The building won a number of awards in 2018, including the British Council for    PROMOTER AND PARTNERSHIPS
occupied by Coventry City Council and The Financial Ombudsman Service.                                                                   Offices (BCO) regional awards: Best Corporate Workplace and the LABC West         Friargate JV Project Limited is a UK registered limited company established
The project is about to commit to a new 100-room boutique hotel for                                                                      Midlands Awards: Best Public Service Building.                                    to deliver the Friargate project. It is owned and controlled by Coventry City
completion in 2021 and a second office building, Two Friargate for 2023.
                                                                                                                                                                                                                           Council and the Cannon Kirk Group, a Dublin-based development and
                                                                              THE FACTS                                                  Friargate also won the 2017 West Midlands Regeneration Project of the Year,       property investment business that includes US venture capital, Oaktree
                                                                                                                                         West Midlands Property Awards.                                                    Capital Management, among its shareholders.
                                                                              Promoter:
                                                                              Friargate JV Project Limited
                                                                                                                                                                                                                           The JV Company consolidates a long-standing working arrangement with
                                                                              Scale:                                                                                                                                       Coventry City Council to help accelerate project delivery while working
                                                                              £700m+ GDV                                                                                                                                   closely with Coventry and Warwickshire Local Economic Partnership, and
                                                                              Sector:                                                                                                                                      West Midlands Combined Authority.
                                                                              Office led mixed-use
                                                                              Location:                                                                                                                                    LOCATION
                                                                              Coventry City Centre
                                                                                                                                                                                                                           Friargate benefits from direct access to London in under an hour and is only a
                                                                              Investment Type:                                                                                                                             10-minute train journey from Birmingham Airport – with connections to Europe,
                                                                              Range including partnership, direct                                                                                                          China, India, Australia, Dubai and the USA. There are few developments,
                                                                              development or co-investment                                                                                                                 anywhere in the country, that are as well connected as Friargate.
                                                                              Programme:
                                                                              Under construction,
                                                                              phased over a 15-year period
                                                                              Planning Status:
                                                                              Friargate Masterplan approved, first building
                                                                              built, second building with detailed approval
                                                                              Website:
                                                                              www.friargatecoventry.co.uk
You can also read