£3.2bn mixed use scheme seeks investment and development partner
Arden Cross, the site that is home to the HS2 Interchange Station, says it is looking for an investment and development partner to help bring forward its proposals to create a “world leading economic hub”.
JLL has been appointed to help promote the £3.2bn mixed use scheme, which extends to 346 acres to the east of the NEC campus and M42 motorway. It will deliver 6m sq ft of commercial development space, up to 3,000 new homes and a network of sustainable new public realm and green spaces.
The scheme, which is centred around the principles of sustainability and connectivity, has the potential to boost the regional economy of the Midlands by over £1bn a year and in turn create and support up to 27,000 new jobs.
Arden Cross Limited has developed the masterplan in partnership with public sector stakeholders including the West Midlands Combined Authority, the Urban Growth Company and Solihull Metropolitan Borough Council to reflect a shared vision that unlocks the site’s full potential to deliver jobs, homes and public spaces for the region.
Councillor Ian Courts, leader of Solihull Council, said: “This opportunity is a unique proposition within the UK, creating a gateway location for Solihull, the West Midlands and the nation and a place where international organisations and businesses can interact and learn together. It will boost next generation R&D opportunities while complementing the strengths of the region’s existing sectors and unbeatable location, opportunity and lifestyle.”
Arden Cross Limited project pirector, Ben Gray, said: “Arden Cross will create a new economic powerhouse for the UK with significant international appeal. It is a once in a generation opportunity and the appointment of JLL is a significant step towards attracting a partner who will be able to capitalise on the masterplan principles to unlock the transformational Arden Cross vision and deliver a world class destination.”
Nick Brown, chairman of the Urban Growth Company (UGC), which is leading infrastructure investment and development across the wider UK Central Hub, said: “Our vision for The Hub has Arden Cross and the HS2 Interchange Station at its heart, alongside our other world-class assets such as Birmingham Airport, the NEC, Jaguar Land Rover and Birmingham International Station. This significant milestone for Arden Cross really sends a message to the world that The Hub is going to be one of Europe’s best-connected destinations for business, leisure and living. This new investment and development partner is going to be working alongside ambitious and committed partners determined to make The Hub a globally-renowned destination contributing unprecedented economic, environmental and social benefits here in the West Midlands and beyond.”
Alistair Meadows, head of investor-developer clients at JLL, said: “Arden Cross will appeal to international and domestic developers and investors encouraged by the transformational changes in the Midlands’ regional economy and the significant opportunity presented by this extensive, cohesive and connected mixed use scheme. It represents a key part of the Midlands Engine initiative to ambitiously grow our regional and national economy.”
