In a bid to create a new retail and leisure hub, Birmingham last week launched a £500 million proposal to breathe new life into a 14 hectare site at the heart of its city centre.
Being situated smack back in the middle of the city, Birmingham Smithfield will be able to take advantage of its position next to the prime shopping area – an area that draws more than 40 million visitors and contributes £2 billion towards the local economy. The new development will also be located close to New Street station, which is used by more than 51 million people a year.
The site will be part of a lively new area, which will feature high-quality pedestrian and cycle routes and a range of new public squares. One of these, Market Square, will be the focal point for the new development, where the markets and family leisure quarter will be found.
Predicted to create more than 100,000 sq. metres of new floorspace, 1,000 new homes and 3,000 new jobs, the 14 hectare site will add £474 million GVA to the local economy and entice millions more visitors to Britain’s second city.
Additionally, the city’s Midland Metro will be incorporated into the site, bringing Birmingham Smithfield within minutes of the planned high speed rail (HS2) terminus at nearby Curzon Street. Additional improvements to public transport facilities for the site will also be delivered.
“Birmingham Smithfield presents a once in a generation opportunity to build upon our recent successes and deliver a truly unique asset for the city,” Sir Albert Bore, Leader of Birmingham City Council, said
“Our plans for Birmingham Smithfield will create a vibrant new destination – adding to the city’s reputation as a top visitor destination and a great place to live and do business.”
Andy Street, Chair of the Greater Birmingham & Solihull LEP, added: “Birmingham Smithfield provides a new and exciting opportunity to secure investment for the city’s gathering renaissance – which will create new jobs and long-term economic growth.”
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