Latest News

Source: Advantage West Midlands (Regional Development Agency)

A successful and competitive Birmingham is playing a vital role in shaping the perceptions and prosperity of the West Midlands region, according to Advantage West Midlands chief executive Mick Laverty.

Welcoming Birmingham's new accolade of being ranked the UK's No 1 city for regeneration, with eight major developments ongoing, Mr Laverty said that the property investment industry should be left in no doubt that the city and wider West Midlands region was the place to invest.

Mr Laverty was speaking to influential property investment figures from the private and public sector gathered at MIPIM 2009, the world's biggest land and property exhibition, which is staged in Cannes, in the south of France.

"Birmingham has showcased a number of major projects, including the Big City Plan, which will have a significant impact.

"There are projects that are still going ahead in spite of the current economic climate, such as the Gateway at New Street Station which is underpinned by public sector funding including £100 million from Advantage West Midlands.

"Birmingham, the city of a million people, has a great deal to offer and plays a vital role in shaping the perceptions and prosperity of the West Midlands.

"A successful and competitive Birmingham goes a long way towards achieving a successful and competitive West Midlands.

"It is therefore vital that we make sure that investors are left in absolutely no doubt whatsoever that there are major opportunities to work with the public sector."

The Eastside Locks development is a £450 million mixed-use regeneration scheme, on the edge of the city centre, involving Advantage West Midlands, Birmingham City Council and private sector company Goodman.

The building of the 700,000 sq ft of office space, 350,000 sq ft of residential space, hotel, retail and leisure facilities will commence in 2010. The outline planning permission was granted in December 2008.

The Top 100 survey also shows which councils in the country have the most major regeneration schemes in the pipeline.

Birmingham City Council, which is home to eight Top 100 schemes, tops the list. Milton Keynes (6) is second, Greenwich (5) third, Manchester (4) fourth and Newham, Barnet and Glasgow (3 each) fifth equal.