Prospectus sets out £20bn of investment opportunities

UK and international investors and developers have been presented with £20bn worth of opportunities to invest in a range of housing, commercial, regeneration and infrastructure projects across the West Midlands.

Building on success of previous years, the West Midlands Investment Prospectus 2023 showcases opportunities across the region.

Schemes listed within the prospectus include the large scale regeneration of town and city centres diversifying what they can offer by introducing more leisure, office and residential development, including affordable housing to help local people secure good quality homes for rent or purchase.

Town and city centre schemes include:

Coventry City Centre Cultural Gateway
Creative Quarter Royal Leamington Spa
Interchange Commercial District Wolverhampton
Paradise Birmingham
Rugby Town Centre
Shrewsbury Riverside
Solihull Town Centre including Eastgate
Telford Town Centre Living Cluster
Transforming Nuneaton
Walsall Town Centre
West Bromwich Town Centre

During a visit to The Junction – a new housing development on the site of a derelict foundry on the outskirts of Oldbury town centre, Andy Street, Mayor of the West Midlands, said the prospectus offered investors an exciting opportunity to work with the WMCA and local councils to help drive transformational change across the region.

He said The Junction was a prime example of the private and public sector working together for the benefit of local people, helping to provide new homes and jobs while supporting the region’s transition to net zero.

The Junction site, which had laid empty for over 20 years, is being transformed by the WMCA and two of its strategic partners – L&G Affordable Homes and Lovell Partnerships.

Of the 234 energy efficient new homes, nearly half are classed as affordable under the WMCA’s own unique definition which is linked to real-world local incomes rather than surrounding property prices.

The scheme is also the first in a £4bn pipeline of investments that L&G is making across the region over the next eight years as part of its commitment as a WMCA strategic partner.

The Mayor said: “More and more major national and indeed global players are recognising the investment opportunities on offer here in our region – including both L&G and Lovell.

“With a young, skilled and diverse workforce, internationally renowned higher education institutions, and outstanding connectivity – set to be bolstered in the coming years by the arrival of HS2 – our economy is well placed to prosper in the months and years ahead.

“This Investment Prospectus comes on the back of last summer’s hugely successful Commonwealth Games as well as the new Deeper Devolution Deal this March where we secured £1.5bn of new funding from the Government – alongside a significant tranche of new powers covering housing & regeneration, transport and skills, giving us even more levers to deliver for local people and our partners in the private sector.”

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