£1.5bn regeneration scheme set for major step forward

A major step forward for a “milestone” Birmingham city centre redevelopment scheme could be sealed next week with a joint venture to bring forward the scheme set to be agreed by council chiefs.

Birmingham City Council’s Cabinet meeting on December 15 will discuss a report on the £1.5bn Smithfield regeneration scheme. The report, which recommends the council enters into a JV with property and investment group Lendlease Europe – identified as the council’s preferred development partner for the project in January 2019 – could see a new urban quarter built in the city.

Smithfield will also bring forward a new home for Birmingham’s historic Bull Ring Markets, leisure and cultural facilities, a new public square, an integrated transport hub and more than 2,000 homes with a public park and community facilities.

Following discussion at Cabinet and subject to its approval, the proposed joint venture agreement would then be put to Lendlease Board to obtain its approval – that decision is expected to be made in early 2021.

Work on the final planning process for the scheme could then begin ahead of submitting a planning application, and a full public consultation to enable local people to have their say as more detailed plans are developed.

The development of Birmingham Smithfield is part of the city’s Big City Plan, launched in 2010, which sets out a 25-year vision to grow the city centre by more than 25%. It is expected to take 15 years to build.