Birmingham launches quest for Smithfield developer
Birmingham City Council, together with property consultants Cushman & Wakefield, have launched the search for a developer to spearhead the £600m Birmingham Smithfield project.
The scheme, involving the regeneration of city’s former wholesale markets, will be lead one of the largest city centre regeneration opportunities in Europe.
The selected developer will work with the city council is realising the vision for the 42-acre site set out in the Smithfield masterplan for a landmark, sustainable, mixed-use development including a family and leisure hub, supported by retail, restaurants, hotels and a public square as well as a residential neighbourhood and integrated transport facilities.
The development is expected to deliver more than 300,000m² of new floor space, 2,000 new homes and 3,000 new jobs, with an investment value of £1bn.
Cllr John Clancy, leader of Birmingham City Council, said: “Birmingham Smithfield will be one of the largest and most attractive city centre development sites in Europe and is a once in a generation opportunity for the council to partner with a private developer/investor to redevelop a major city centre site.”
“It sets the standard for inclusive economic growth and sustainable development and is a major part of the unprecedented change happening in Birmingham.”
Waheed Nazir, Corporate Director of Economy at Birmingham City Council, said: “The development of Smithfield marks our ambition to strengthen Birmingham’s national and international standing through the creation of a truly exemplar mixed use sustainable development that will attract millions more visitors to the city.
“The development will promote the city’s own unique character and protect the rich market heritage of the city with the creation of a new vibrant market complex; and a major family led leisure and cultural destination and residential area which is supported by high quality public realm and transportation links to the wider city centre and beyond.”
David Tonks, Head of the Birmingham office of Cushman & Wakefield, said he anticipated strong interest from a wide range of developers.
Interested parties have until September 12 to express interest and the winning bid is expected to be announced in March next year, possibly to coincide with the MIPIM property exhibition.
