Major regeneration investment options on offer

Regeneration bosses are looking to attract £19bn worth of investment in the West Midlands from national and global developers in HS2 terminals to affordable housing schemes and town centre revamps.

More than 60 investment sites are being promoted by county mayor Richard Parker at a trade show in Leeds this week.

Opportunities include Smithfield Birmingham, which is a £1.9bn regeneration of 17 hectares in the city, and the £3.2bn Arden Cross development, which spans 140 hectares around the HS2 Interchange Station in the county.

The investment bid comes ahead of the West Midlands Local Growth Plan being unveiled next month.

The sites are being promoted by the West Midlands Growth Company in partnership with the West Midlands Combined Authority, Birmingham, Coventry, Dudley, Sandwell, Solihull, Walsall and Wolverhampton councils.

Mr Parker said more than 1,500 acres of regeneration opportunities were being showcased under the banner Site Selection WM at the UK's Real Estate Investment and Infrastructure Forum event, which demonstrated "the enormous scale of West Midlands ambition".

"By offering a more innovative and transparent way to explore a range of development sites, it marks a step change in how the region engages the global investor community," he said.

"From town centre revitalisation projects; to forward-thinking, affordable housing-led schemes – bringing forward the right infrastructure is critical to my mission of fostering growth for everyone," added Mr Parker.

"I look forward to speaking to new potential partners with a shared commitment to our region's future."

Last summer, Lendlease, a global real estate group and developer behind the Smithfield development said it was stepping back from the construction phase of its UK projects.

The plans, which would see the city's former wholesale markets turned into a new landmark destination including residential living, offices, a park, retail and cultural spaces, were recommended for approval last June.

On Monday it emerged that King Charles's property company, the Crown Estate, struck a deal with Lendlease to back major projects, including Smithfield by taking a 50% stake in a new joint venture that also oversees five development schemes in London.

This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations.

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