Birmingham launches £350m development site to investors
A Birmingham development opportunity which could create up to 10,000 jobs and contribute £350m to the city region’s economy has been officlally launched to potential developers and investors.
The Peddimore scheme was unveiled at this year’s MIPIM property exhibition in Cannes and Birmingham City Council has now invited expressions of interest for the massive site.
The land, capable of supporting up to three million sq ft of development, is likely to attract interest from manufacturers and logistics operators.
Its location on the outer edge of the A38 industrial corridor to the east of Birmingham, puts it within easy reach of the UK’s motorway network, with connections to the M42, M6 Toll and M6. It is also less than half an hour’s drive of both Birmingham and East Midlands airports, to say nothing of the future potential of HS2 and the interchange station being located at Birmingham Airport.
Tenants would also be able to draw on a skilled workforce from 2.6 million people living within 40 minutes’ drive time of the site.
The city council therefore believes the site to be one of the most strategically well-positioned and connected development opportunities to emerge in the UK during the last five years.
Expressions of interest from investors and developers are sought by the end of July, followed by a shortlisting and tender process, with an anticipated final selection by early 2018.
The council is marketing the land via the OJEU procurement process in order to select a development partner to bring forward the site.
Birmingham City Council leader, Cllr John Clancy said: “We want to create a market-leading development opportunity for the city region that will help create thousands of jobs, boost the local economy and act as catalyst for further growth in the region. To make this happen, we’re unlocking excellently located prime land at Peddimore for manufacturing and logistics uses.”
Waheed Nazir, the city council’s director for economy, added: “This is simply the best strategic development opportunity of its kind to come forward in many years. We’re therefore pleased to have begun the process of seeking a development partner at the top of its game to deliver our ambition of creating a major new industrial development at the centre of the UK.”
The Industrial and Logistics team at GVA is advising the council on the process.
David Willmer, national head of team, said: “We are confident that this outstanding development opportunity will attract the very best development partner to underwrite its success.”
