THE UK’S GROWTH CAPITAL

2020 INVESTMENT PROSPECTUS This is the Edinburgh , Belfast the UK’s Growth Capital. Manchester Liverpool Dublin The place to create, innovate and build the future. An entrepreneurial hub, with a pioneering spirit. A region where Amsterdam long-term, inclusive growth is driven by strategic leadership, London responsible investment, world-class businesses and passionate Cardiff entrepreneurs. Invest with us.

Paris The West Midlands Our Story

Welcome to the WEST MIDLANDS WHERE PIONEERS MAKE THEIR MARK Investors, more than ever, are looking for certainty and leadership. You need the reassurance that whatever volatility affects the global economy, your capital investments will make appropriate long-term gains.

The West Midlands offers this reassurance. For centuries our As Mayor of the West Midlands, I’m excited to be working region has been at the strategic heart of the United Kingdom, closely with a team of local leaders who are animated by the as an entrepreneurial hub for transport, logistics, manufacturing, same purpose: driving inclusive growth across our region. trade and innovation. Today, the UK’s second largest city region, With a background in business, at the helm of a leading UK home to 4.7 million people, hosts a new generation of highly retailer, I understand the importance of collaboration here skilled people that continue to shape our future. in the West Midlands, which is the spirit that drives us. We minted the first modern coin – and are now home to a major By bringing the West Midlands under a single entity charged FinTech hub. We invented the modern postal system and are now with powering inclusive growth, the investor-friendly West the UK’s first testbed for 5G, ushering in a new age of superfast Midlands Combined Authority provides our region with the connectivity. We created the first pneumatic tyres and are now strategic leadership and local knowledge needed to succeed. specialists in future transport systems, including autonomous Supported by the UK Government’s ambitious Industrial Strategy, vehicles. We are home to the birthplace of Shakespeare and we are building tomorrow’s homes, creating vibrant and thriving now have a thriving creative and media sector, as well as one of mixed-use places, investing in world-class infrastructure, and Europe’s fastest growing technology clusters, including a globally transforming the West Midlands into the UK’s growth capital. significant gaming industry. In this £10bn investment prospectus you can learn more about A natural home for pioneers, we have a diverse, resilient economy, the strength of our offer and the boldness of our vision. We are one of the youngest and fastest growing populations in Europe, the most promising place to invest in the UK – and, like all good great quality of life, unrivalled connectivity, brilliant centres of businesses, we have a plan and are delivering it. learning, and world-class businesses, large and small. All this provides a once-in-a-generation opportunity. We are seizing it, and you can too.

Andy Street Mayor of the West Midlands

02 Be part of our story. 03 The West Midlands Our Story

Birmingham’s New Street Station and Grand Central shopping centre has undergone a £750m revamp and is now a world-class transport and retail hub, attracting £175m in investment from THE TIME TO INVEST Canada’s largest pension fund. IS NOW.

There has never been a more exciting time for the West Midlands. With strong strategic leadership in place through the West Midlands Combined Authority and a thriving and resilient economy the region is primed for unprecedented growth. This £10bn investment prospectus provides a significant opportunity to make your mark in our region. We can provide investors with a simple entry point into our region, connecting you with the people that matter and guiding you every step of the way.

With the region’s population forecast to grow by half a million The West Midlands has all the elements in place to provide investor over the next 20 years – equivalent to a city the size of Bristol or certainty and strong long-term growth. The region is open for Liverpool – and wage levels expected to rise faster than anywhere business and the time to invest is now. else in the UK, demand will continue to grow for new, quality homes, services and jobs. DID YOU KNOW? Our diverse economy is another key strength with expanding finance, digital, life sciences, and advanced materials industries • The region boasts a trade surplus with the United States of £4.5bn further fuelling the dynamism of the region’s globally leading transport, logistics and advanced manufacturing sectors. •  has been named as the UK’s most investable city by Europe’s top real estate investors The West Midlands Combined Authority fully supports the vision for an even more prosperous city region, with a Strategic Economic • ’s rate of jobs creation from FDI is six times higher Plan and Local Industrial Strategy backed by an £8bn 30-year than other UK regional cities and double that of London investment programme and a significant annual investment in • £5.1bn is being invested in High Speed 2 rail and local providing job-specific training. It is no surprise therefore that public transport investors are increasingly keen to make their mark in the West Midlands. Canadian pension fund CPPIB demonstrated this • The National Exhibition Centre near Birmingham confidence by investing over £200m into major commercial Airport is the UK’s top exhibition venue developments in central Birmingham. • ’s £250m Integrated Transport Interchange Two of the largest UK regional investments in recent years were will provide a state-of-the-art connectivity hub for the region made in the West Midlands. Totalling over £330m, these student housing and logistics deals have earned yields over 5% for their Singaporean and South Korean investors.

04 05 The West Midlands Our Story YESTERDAY... TODAY... The birthplace of Shakespeare… and the first Industrial Revolution Home to creators, makers and doers… and pioneering the Fourth Industrial Revolution

•  Accommodating one of Europe’s youngest populations with almost a third of residents under 25 years old •  16,938 additional new homes built in 2019, up 15% on the previous year •  145,000m2 of prime office space under development •  The fastest-growing UK region for goods exports with 27% growth between 2015 and 2017 •  The £107.5bn West Midlands economy has grown by 16.5% in the last six years •  Cluster of 12,400 technology and digital companies •  Home to global brands including Jaguar Land Rover, JCB, Cadbury and AGA •  Global centre for innovation in future transport systems and supply chain firms

The Ironbridge, in Shropshire, was the first bridge •  Birmingham is the UK’s most investable in the world fabricated from cast iron, made nearby. city, as voted by 500 of Europe’s top real The West Midlands is home to a The area is now known as the ‘birthplace of the estate investment experts fast-growing data-driven health Industrial Revolution’. and life sciences sector.

06 07 The West Midlands Our Story BE PART OF OUR TOMORROW

2019  • One of the fastest growing economies of any UK region 2021 • Hosting the UK’s City of Culture 2022 • Delivering the 2022 Commonwealth Games 2026 • High Speed 2 rail links to London in 38 minutes 2030 • 500,000 new residents • 215,000 more homes • 500,000 more jobs 2033 • High Speed 2 rail links to Manchester and Leeds keeping the region at the heart of the UK’s five largest urban areas

High Speed 2, one of the biggest infrastructure projects ever undertaken in the UK, will connect the West Midlands to London, as well as the North of and Scotland.

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The West Midlands is thriving. Located at the heart of the UK, we have a youthful and diverse population that is open and friendly. Close to London, but without the stress, hassle and expense of the capital, we are a region of opportunity that is growing LIVE DID YOU KNOW? Bustling urban centres, quiet green With many of the UK’s best schools, high fast, attracting global investment, suburbs or wide open spaces, the levels of personal safety, affordable housing, • Most popular UK destination for West Midlands offers a vast range a wealth of green space, and a vibrant and relocating Londoners new businesses and residents, and of lifestyle choices alongside easily diverse population, the West Midlands is • 1.3 million residents under 25 accessible attractions and expanding fast becoming the UK destination of choice • Average home 60% cheaper cultural offerings. for businesses, giving their employees a than London great place to live, learn, work and play. holding onto the talent nurtured here. Recent years have seen a renaissance across • Birmingham has one of the highest the West Midlands’ diverse urban centres. proportions of green space of Coventry is set to become the UK’s 2021 any UK city City of Culture, and Birmingham will host the Our people are creative, innovative, • Coventry has one of the fastest 2022 Commonwealth Games, and the region population growth rates in the UK boasts football clubs in the English Premier passionate, and connected – League and Championship – all of which truly puts the region in the global spotlight. and we get things done.

The annual Godiva Festival held over three days in Come and invest with us. Coventry is the largest free family music festival in the UK. Coventry will become the UK’s City of Culture in 2021.

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CONNECT DID YOU KNOW? Connectivity is king in the global economy. Expanding infrastructure networks, With its strategic location at the heart established global partnerships and tightly • 90% of the UK population of the UK, the West Midlands is the best connected clusters of high value businesses within a four-hour drive connected city region in the country – by air, saw the West Midlands welcome the UK’s • The largest bus network road and rail. Served by Birmingham Airport, highest proportion of business visitors in outside London one of the UK’s fastest-growing airports, 2016. Connections to the global economy • The UK’s first 5G testing hub local labour mobility is being enhanced by a are being further enhanced by superfast represents a £50m investment into £5.1bn investment to expand rail, tram and broadband and 5G that will keep our future mobility and connectivity bus rapid transit systems. High Speed 2 will innovative businesses at the vanguard • High Speed 2 to connect to provide even quicker rail connections to of the Digital Age. London in 38 minutes by 2026 London, Heathrow Airport and continental and provide quicker links to Europe, as well as to regional hubs in the Manchester (41 minutes) and North of England and Scotland. Leeds (57 minutes) by 2033 • Rolling out 100% superfast LEARN broadband coverage DID YOU KNOW? • Constructing Europe’s longest Bus The West Midlands has always been Our diverse population provides Rapid Transit network with 125km The West Midlands has… known for creativity, innovation, design powerful connections to expand of dedicated and enforced bus lanes and making. We are home to the professional networks globally, while • Nine universities, including • The West Midlands has the birthplace of Shakespeare and the Lunar increasing the region’s cultural, two in the World’s Top 100 UK’s largest smartcard transport Society, whose members helped shape creative and culinary variety. • 56,000 graduates a year scheme outside London the Industrial Revolution. Today world- A multi-million-pound UK government- • Europe’s largest specialist leading educational centres and a young backed skills deal will provide further construction and built and entrepreneurial population puts the digital and technical skills to ensure environment campus West Midlands at the cutting edge of employers can access the talent required creativity and innovation. A high number of • World-class business schools to build the future. We are also working pioneering startups reinforces a growing producing more business students with leading employers to respond to reputation as the UK’s growth capital. than any location outside London labour shortages, create talent pipelines With nine universities and top research ahead of large projects and provide institutions, Birmingham, Coventry and in-work retraining to make jobs Wolverhampton are brimming with more sustainable. Based in Wolverhampton, luggage label The WMCA region attracted over 131 bright graduates, with many staying to Goodstart Jones is being supported by eBay million visitors in 2018, an increase of start businesses and build homes. in the UK-first Retail Revival innovation, aimed 2.6% (+3.4m visitors) over the past year. at combining expertise in new online shopping Birmingham Airport is undergoing a habits with a tangible shopfront experience. terminal transformation programme as part of its long term £500m master plan vision.

12 13 The West Midlands Our Story FROM WORKSHOP OF THE WORLD...

Historically known as the ‘workshop of the world’, today the West Midlands’ diverse range of thriving sectors and entrepreneurial spirit continue to drive global innovation and change. Home to both established global brands and a new generation of businesses already shaping the future, the region is a natural home for designers, creators, makers, innovators, and pioneers who want to make their mark. DID YOU KNOW? A unique mix of talented people, world- Enterprise Zones based in Birmingham and class research, business and government Black Country provide unique benefits and • Connected and autonomous investment has seen the West Midlands incentives to businesses and further cluster vehicles are potentially worth transition from industrial heartland to the area’s expertise in engineering, business £50-100bn to the UK economy high-tech hub, now home to Europe’s and financial services, pharmaceuticals and • The West Midlands produces one fastest growing technology cluster. With healthcare, and automotive. third of the nearly two million vehicles more patents for low carbon transport than manufactured annually in the UK Some of the world's best educational anywhere else in Europe, the region is a facilities and our commitment to becoming • Birmingham has the highest number global centre for future transport systems the UK's leading region for job-related skills of start-ups of any regional city and supply chain firms. development ensures we'll remain at the • Coventry's ratio of published Our unusually high concentration of games forefront of global innovation. patent applications is the UK's development companies, with around second highest 130 in a cluster known as Silicon Spa, are pioneering the Digital Age of augmented and virtual reality, while the development of advanced materials, bio-energy, FinTech, future power systems and autonomous vehicles will continue to shape the future. ...TO

The West Midlands is home to a high concentration of gaming companies in a fast- growing tech cluster known as Silicon Spa. 14 INNOVATION ENGINE 15 The West Midlands Our Story Future of Mobility • Connected and Automated Vehicles (CAVs) – self-driving vehicle trials for The West Midlands is the centre of the public beginning in the UK in 2021 transport innovation in the UK, leading and the West Midlands will deploy the the smart, low carbon movement of people WORLD-CLASS OPPORTUNITIES first fully operational CAVs in advance and goods and of the 2022 Commonwealth Games Supported by our landmark Local Industrial Strategy, the West Midlands has a diverse, to new opportunities. resilient and thriving economy, and four major new market opportunities. • UK Battery Industrialisation Centre Opportunities: (UKBIC) – a national facility and • Future Mobility Zone - the first to be research technology organisation established in the UK on a network of over 50 miles of roads, and to develop • National Automotive Innovation the next generation Electric and Centre – creating and developing novel Ultra-Low Emission Vehicles (ULEVs) and technologies to reduce dependency on Connected Autonomous Vehicles (CAVs) fossil fuels and to reduce CO2 emissions

• 5G West Midlands Testbed for Mobility

Data-driven health Modern Services Creative content, and life sciences The West Midlands is driving innovation techniques and technologies By leveraging value from investments in our and demand through its globally relevant The West Midlands is growing its core world-leading research and clinical bases, the cluster of business and professional services, creative industries and creative design skills West Midlands has already established itself offering ‘full service’ provision at scale and techniques as part of the transformation as a leading centre for the evaluation and unprecedented in any other UK city region. of products, processes and services. real-world application of health interventions. Opportunities: Opportunities: Opportunities: • Largest and fastest growing sector in • A core sector generating over £4bn of GVA • Enable the region to access region, with highly paid, high-skilled roles through 10,000 firms and 10 per cent of the state-of-the-art healthcare services UK games industry based in Silicon Spa • Driving business performance • Create a system that enables the rapid across all sectors • An advanced manufacturing sector adoption of digital technologies comprising over 134,000 employees • Application of disruptive technologies and across over 5,700 companies in a prime • Developing the West Midlands’ 5G to innovate next-generation services position to drive innovation and adoption Health Technologies Cluster of new opportunities for the sector • Compelling quality of life proposition • Developing a workforce equipped with attracting and retaining top talent • The creation of Create Central, the digital and entrepreneurial skills an industry-led body turbo-charging • Internationally recognised research games, TV and film industries in • Making the West Midlands the best centres for excellence for advanced the West Midlands place to train, work, live and grow services and responsible business a health technology business • Significant opportunities associated with Coventry’s UK City of Culture in 2021 16 and the 2022 Commonwealth Games 17 The West Midlands Our Story Birmingham Coventry Dudley BOLD LEADERSHIP STRONG PARTNERSHIPS

The West Midlands Combined Authority (WMCA) guarantees strong strategic leadership for the Solihull Chase North Warwickshire region and a single entry point for investors, providing key insight, knowledge and connections. Led by Mayor Andy Street, who ran John Lewis, one of the UK’s most successful retail businesses for nearly a decade, the WMCA team work with local leaders to champion the region and boost investment, economic growth, transport, housing and jobs.

Capitalising on a once-in-a-generation opportunity to power The West Midlands is open to investment and business and inclusive growth, the WMCA, with its first elected mayor, we are working with our partners including the West Midlands was established in 2017 to provide strategic leadership Growth Company to attract jobs, investment, visitors and across the region. businesses to the area. The WMCA works hand in glove with local leaders and partners, The region has a relentless focus on delivery, with housing Nuneaton and Bedworth Redditch Rugby Shropshire including the neighbouring East Midlands and larger Midlands completions increasing at four times the national average in Engine, to attract investment and drive inclusive growth. recent years. We are now delivering on ambitious plans to transform the region’s diverse urban centres, unlock As the fastest growing economy of any city region in the UK, brownfield land, and expand public transport. with wage levels rising quicker than the rest of the country, the West Midlands offers stellar investment opportunities. With Coventry becoming the UK City of Culture in 2021 and Birmingham hosting the 2022 Commonwealth Games, the Benefiting from a strategic approach to regeneration, transport region’s local and global reputation as a dynamic, cosmopolitan, and growth and strong local networks, the WMCA has partnered open and business-friendly destination will continue to expand. in major redevelopment projects, including the extensive redevelopment around Birmingham’s central rail stations and The West Midlands Combined Europe’s largest automotive R&D cluster. Authority brings together 17 local Wolverhampton Stratford-on-Avon Tamworth and Wrekin Warwickshire authority partners, all animated by Three Local Enterprise Partnerships exist across the region, same goal: driving inclusive growth promoting collaboration on economic and employment across the region. growth between local businesses and local government. The UK Government also fully supports the four pillars of our Local Industrial Strategy: smart mobility; data-driven health and life sciences; modern services; and creative content, techniques and technologies.

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THE WEST MIDLANDS: WE DELIVER A TRACK RECORD OF SUCCESS Won the bid to host the UK City of Culture in 2021 The West Midlands is a place to innovate – we embrace creators and makers and  And the Commonwealth Games in 2022 − plans include a £60m those with a pioneering spirit. But we are state-of-the-art Sandwell Aquatics Centre also a region of doers. Since the West Midlands Combined Authority was created Secured a ground-breaking Devolution Deal in 2016, with a further just three years ago, we have a strong track £2bn devolved since then record of success. Investors can be assured that in the West Midlands they will find The £107.5bn West Midlands economy has grown by 16.5% in the last six years dynamic and business-friendly partners all animated by the same goal: driving  145,000m2 of prime office space under development inclusive growth across the region. We can help connect and guide you every step of Home to the UK's most investable city − as voted by 500 of Europe’s top real estate the way. Together we can make it happen. investment experts

 Europe’s largest bank, HSBC, relocated its UK headquarters to the West Midlands with 2,500 employees

 More jobs from foreign direct investment than any region outside London

 18,590 business registered in Birmingham in 2018, the highest outside London

£50m investment to develop the UK’s first 5G testing hub 

Delivering the first integrated public transport network outside London Walsall born swimmer Ellie Simmonds, who won five Paralympic gold medals, is now £175m annually to provide the skills employers need to build the future playing a leading role in organising the 2022 Commonwealth Games in Birmingham. Additional new homes up from 6,839 (2011/12) to 16,938 (2018/19) 20 21 The West Midlands Make Your Mark

This £10bn investment prospectus provides significant opportunity to make your mark in the UK’s growth capital. INVEST IN •  Building tomorrow’s homes to accommodate the region’s growth, we will become a world leader in advanced methods of construction, placemaking, brownfield regeneration, urban renewal and housing delivery

•  Working with visionary investors, developers, and architects we are creating great places OUR FUTURE that are transforming our urban centres, leaving a legacy for generations to come • With unprecedented backing from the UK Government we are delivering major strategic infrastructure upgrades, including some of the largest projects in the country’s history

•  With new expertise and investment we have unlocked a diverse range of challenging brownfield regeneration sites including the largest brownfield housing site in the region (Friars Park)

•  Working along new and existing transport corridors we will showcase portfolio corridor investment opportunities making corridor thinking, planning and implementation the norm

The £700m Paradise Birmingham development, delivered by Argent and Hermes and masterplanned by Glenn Howells Architects, is one of the largest and most important commercial developments outside London.

22 23 The West Midlands Make Your Mark This LoCal Homes factory in Walsall, using the latest in modern methods of construction, has capacity to produce 1,000 high quality, energy efficient houses every year. INVEST IN Each home can be built in as little as one day. TOMORROW’S HOMES Harnessing the West Midlands’ entrepreneurial spirit, we believe in challenging the status quo and embracing new and innovative thinking. That also applies to housing, where we have a relentless focus on creating thoughtfully designed places, maximising our connectivity and delivering inclusive communities that bring together the very best practice in housing delivery, innovation in construction, regeneration, placemaking and urban transformation

Housing completions have been increasing at four times the UK’s Delivering more homes, diversifying an undersupplied rental stock average in recent years. In the last year alone overall housing and maintaining housing affordability is central to ensuring the supply increased by 15% in just 1 year. As a strategic hub for West Midlands remains a destination of choice. Supported by a advanced manufacturing and logistics, the region will become a strategic approach to skills development, transport investment global leader in modern methods of construction, delivering high and urban transformation the West Midlands will remain the most quality factory-made, digitally-enabled homes at scale and speed. investor-friendly region for residential investment in the UK. We can With strong local and national government support and the largest offer land for direct purchase, and the opportunity for joint venture developable brownfield land supply in the UK, the West Midlands and public-private partnerships. We can also make introductions to is aiming to double housing delivery within a decade and triple fast track the delivery of affordable housing and provide compelling the supply of affordable housing by 2031, with advanced methods propositions. Join us in powering inclusive growth as we ensure of construction becoming the norm. A wave of brownfield sites scale, pace and quality of development is achieved. which have been stalled and derelict because they were too difficult to develop have been unlocked by the WMCA working with its public and private sector partners – creating new homes, jobs and infrastructure for local communities and de-risking DID YOU KNOW? private sector investment by positive public intervention. • The West Midlands has the UK’s second highest housing target – an average of 16,500 dwellings a year between now and and 2031, and already ahead of trajectory BY 2031 THE WEST MIDLANDS WILL: • The region delivered an overall supply of 16,938 new homes in 2018 – that is more than double the figure just 7 years ago • Increase affordable housing supply to 6,000 new completions annually • The average home in Birmingham costs 7.3 times annual earnings versus 10.2 UK-wide and 17.8 in London • Deploy the most advanced methods of manufacturing in construction in new • The region has created a public land disposals database to simplify planning and acquisition homes in line with the region’s advanced methods of construction strategy • The West Midlands’ residential property prices for 2017/18 grew 5.8% − one of the UK's fastest • Secure high-quality design through a new regional design charter • Hong Kong investors put £300m into 1,000 new homes in Birmingham's city centre • Deliver 16,500 new homes every year • Poor housing stock means one in 10 families struggle to heat their homes, representing a significant opportunity for new retrofitting • Deliver zero carbon buildings in line with the region’s 2041 Climate Change Action Plan. technologies, aimed at tackling fuel poverty and improving sustainability and wellbeing 24 25 The West Midlands Make Your Mark

INVEST IN GREAT PLACES The West Midlands is undergoing a cultural and urban transformation. Robust partnerships between commercial developers and public authorities are rapidly transforming the accessibility and experience of the region’s urban centres, opening up new opportunities for workplaces, retail, food and beverage, leisure and housing.

Large-scale regeneration in Birmingham, Coventry and Our aspiration is to catalyse and deliver genuinely Wolverhampton is only the start of this story. In smaller urban high-quality development that supports strong and centres across the region the WMCA’s urban town centre socially inclusive communities. We will ensure that improvement programme is further reviving their commercial residents, businesses and visitors will enjoy the shared appeal and redesigning the public realm. benefits, firmly establishing the region as the UK’s destination of choice to live, learn, work and play. Beyond our urban centres, strategic growth corridors where development can be prioritised, aligned and accelerated have been identified. New corridor investment plans are being created for example along the Walsall to Wolverhampton and Sandwell INCLUSIVE GROWTH CORRIDORS to Dudley corridors to show investors and developers the compelling vision, real estate evidence and different ingredients • Wolverhampton — Walsall: major regeneration and and projects which make them great places to invest and build. development opportunity, with circa £100m transport upgrades planned to support the construction of over URBAN TRANSFORMATION 4,500 new homes, as well as major redevelopment in Walsall and Wolverhampton urban centres • Sandwell — Dudley Metro Extension: the 11km Metro • Birmingham: £1bn+ Curzon Street High Speed 2 rail extension between Wednesbury and Brierley Hill station; Argent and Hermes’ £1bn, 7-hectare Paradise links the Black Country with HS2 and supports the project and LendLease’s £1.5bn 17—hectare Smithfield site regeneration of Brierley Hill and Dudley town centres • The Black Country: £6bn of investment opportunities − 17 new Metro stations will support investment and in high density sites for residential, office, retail and regeneration opportunities throughout the corridor. technology enhances the region’s reputation as the UK’s • Perry Barr: the £280m Athletes Village for the 2022 largest high-value manufacturing cluster Commonwealth Games provides the catalyst for • Wolverhampton: £3.7bn in urban regeneration regeneration of the wider area with an improved new investment, with the former Springfield Brewery rail station, major public transport investment, and becoming Europe’s largest specialist construction and delivering new homes and jobs post-Games built environment campus • Greater Icknield — : major investment in land Designed by architect Allies & Morrison • Coventry: £700m Friargate development adding prime remediation and transportation improvements provide and developed by Cannon Kirk, Friargate is office space, hotels, homes, shops, restaurants and a catalyst for a new mixed-use urban quarter just 10 a 300,000m2 new mixed-use destination, public space to the town centre minutes from Birmingham city centre opening up a new green link into the town from Coventry’s soon-to-be upgraded rail station. 26 27 The West Midlands Make Your Mark THE WEST MIDLANDS IS COMMITTED TO:

• Investing up to £5bn in transport upgrades, to deliver an integrated world-class transport network and fully connect local transport INVEST IN WORLD-CLASS networks and communities into our HS2 stations • Extending the West Midlands Metro system, by 30km by 2026, including the delivery of light rail extensions to Dudley-Brierley Hill INFRASTRUCTURE and through East Birmingham to North Solihull and the High Speed 2 Interchange Station • Delivering £50m in investment to create the UK’s first multi-city 5G testbed across Birmingham, Wolverhampton and Coventry The West Midlands lies at the strategic heart of the UK, as an entrepreneurial hub for transport, • Delivering the UK’s first Future Mobility Zone and the UK’s largest connected and autonomous vehicles testbed logistics, manufacturing, trade, health and innovation. To enhance its global position and to secure • Delivering the biggest station and infrastructure investment programme for a generation – building seven new suburban rail sustainable growth, the region is now undertaking major infrastructure improvements, including stations, reopening 31km of track new passengers and providing 20,000 new seats some of the biggest investments in UK history and the UK’s first 5G testbed. • Investing up £100m, in time for Birmingham 2022, to deliver the longest bus rapid transit system in Europe This unprecedented programme includes major rail projects To remain at the cutting edge of the digital revolution, the • Delivering a network of new cross city bus routes and supporting town centres in order to promote inclusive growth such as High Speed 2, local transport improvements, including region is rolling out 100% superfast broadband coverage. the first integrated public transport network outside London, We are also hosting the UK’s first and largest public test ensuring places, homes and businesses remain highly environment for 5G as well as trialling connected and connected, driving inclusive growth while lowering emissions. autonomous vehicles, both important pillars of the UK’s industrial strategy. A £5.1bn investment is underway to expand rail and tram networks, including new stations in congested areas and bus An annual energy bill of £10bn and significant development rapid transit lines to connect to key development sites. The and investment plans provide a platform for local clean energy West Midlands will also boast two High Speed 2 rail stations, innovators to grow into major export businesses. The region with £1.1bn being invested in strategic station upgrades to is also committed to playing a major part in delivering carbon improve capacity across the region. The UK government is neutral growth and hosts many of the UK’s leading energy investing £2.9bn in 234km of smart highways radiating from research institutions. Birmingham and 11 major road schemes supporting housing Opportunities for infrastructure innovators and investors to and growth across the region. make their mark are significant – supported by a clear strategy for inclusive growth and strong leadership. DID YOU KNOW?

• The West Midlands has an annual energy bill at £10bn, second only to London • The clean energy sector generates £134,638 GVA per employee, more than double the UK average • The West Midlands manages the largest public bus network outside London, with a clear commitment to a clean fleet by 2020 • High Speed 2 will increase access to and around one of the UK’s fastest growing airports • 90% of UK businesses are located within a four-hour drive from the West Midlands The West Midlands is hosting the UK’s first testbed for 5G technology and autonomous vehicles, putting the region at the leading edge of the fourth Industrial Revolution. 28 29 The West Midlands Make Your Mark

... INVEST IN THE WEST MIDLANDS... AND IN OUR FUTURE A region that supports inclusive growth − doing things differently, and doing them better. We are the most promising place to invest in the UK – offering unprecedented growth opportunity; strong strategic leadership and a thriving and diverse economy. The West Midlands Combined Authority brings local authorities This means going beyond the usual ways of working – and doing together under a single strategic entity committed to driving more to make sure that inclusive growth is at the heart of our plans A region that gave birth to the Industrial Revolution is now We are on an exciting journey. Join us on it. inclusive growth across the region. We have an ambitious for the region. We are the most promising place to invest in the pioneering the new industries and technologies that will We can help you every step of the way. growth strategy that is already delivering; creating good jobs, UK – we have a clear vision and a strategy for delivering it and can shape our future. We are young, entrepreneurial and creative real skills progression and a pipeline of developments that will provide you with the reassurance that your capital investments will − and are fast becoming the UK destination of choice. benefit all of our communities. make appropriate long-term gains. Together we are committed to doing things differently, and doing them better. Join us. Investing in the West Midlands means investing in our communities: they are vibrant, diverse and welcoming. They are your future talent and your future market. That is why we want inclusive growth to ensure that all our CONNECTING COMMUNITIES communities have a chance to contribute and benefit. Our plans actively support housing and infrastructure development in places, and for people, that need it the most. This means new transport connectivity that connects outlying GREAT HOMES AND PLACES communities with centres of job growth and economic prosperity. It means working with our public service partners We are committed to not just building houses, but building homes, to make sure the social infrastructure in our places is modern, communities and vibrant places where people can live and work connected and helps support resilient communities that can together with pride. So we will promote wellbeing by design, quality play their part. across the board, and we will measure success on how inclusive our development has been – on the ROI to society, as well as the FORWARD-THINKING PARTNERS economy. The WMCA operates a single funding portal (the single Inclusive growth means ensuring all of our communities benefit commissioning framework) for all devolved housing and land from the value growth and development creates. We cannot funds – a convenient means to access the investment developers accept economic growth that leaves our communities behind, and investors need to unlock their housing and regeneration sites so we will work tirelessly to recognise partners who want to with clear rules of the game on eligibility and decision-making invest in our places for the right reasons, to leave a real legacy timeframes. The framework puts inclusive growth and placemaking for our citizens and communities. This is forward-thinking, front and centre of every investment decision. responsible investment with a shared reward. BUILDING SOCIAL VALUE We are resolutely focused on growing the social economy in the region – through our commitment to social value procurement and supply chain development that proactively includes local businesses that develop skills, wealth and expertise within our communities. We want partnerships that can grow this ethos and Central Birmingham is being transformed by the £700m Paradise help leave a lasting legacy of social value in the West Midlands. The Gravelly Hill Interchange, opened in 1972 in the West Midlands, project, as well as the recent opening is the world’s first ‘spaghetti junction’. of HSBC’s UK head office. 30 31 THE UK’S BEST AIR

CONNECTED REGION Birmingham Airport has embarked on a major three year £65m

Edinburgh terminal transformation project to enlarge the departure lounge and passenger security search area, as well as introducing further self-service bag drop kiosks and additional baggage carousels

This work is the first phase of a 15 year vision which will accommodate the forecasted growth in passenger numbers from the current 12.7m today to 18m by the year 2033 RAIL Newcastle Birmingham Airport serves more than 400 direct or one stop destinations globally with 50 airlines and is the UK’s fifth largest airport with the highest percentage of business travellers after High Speed 2 will reduce travel time into London to Belfast London Heathrow. 38 minutes by 2026, with journey times to Heathrow Airport cut to just one hour, quicker than from many parts of London West Midlands is one of the UK’s fastest growing regions for international visitors – attracting Phase 2 of High Speed 2 will halve travel times a record 1.9 million overseas visitors in 2017 to Manchester and Leeds by 2033 Leeds Birmingham New Street is the UK’s busiest passenger station outside London Manchester Liverpool Around £1.1bn investment in strategic stations, Dublin including £700m in Birmingham New Street; £200m PUBLIC in Birmingham International; £82m in Coventry and TRANSPORT £132m in Wolverhampton Station

Wolverhampton Over £5bn is being invested in transport upgrades, Coventry delivering an integrated world-class network ROAD Birmingham Metro and rail public transport usage continue to increase across 90% of the UK population within a four-hour drive the West Midlands, peaking at almost 40% of all trips into Birmingham during the morning rush-hour Forms the backbone of the UK’s ‘golden triangle’ with more warehouse space for logistics than London, The £1.3bn West Midland Metro expansion will triple the network size, Scotland and Wales combined Cardi add 50 additional trams by 2026, increasing passenger numbers from 7.2 Bristol London million to 30 million and interchanging with both High Speed 2 stations Within four hours by road of nine of the UK’s 13 major ports, including Dover, Europe’s busiest Investing up to £100m, in time for Birmingham 2022, to deliver passenger port and Felixstowe, the UK’s biggest our flagship bus rapid transit system in Europe. and busiest container port Bus is the backbone of the West Midlands transport network 234km of Smart Motorway being delivered carrying 80% of all public transport trips. The region has the largest to improve links from the West Midlands bus network in the UK (outside of London), with over 2000 buses to London and Manchester and 260 million journeys per annum, across 300 bus routes The West Midlands Make Your Mark £10bn of investment INVEST IN US opportunities inside. The West Midlands Mayor and Combined Authority provide strategic leadership for the region and offer a soft landing for investors looking to make their mark. Strong relationships with local partners and businesses gives us the contacts, knowledge Now make your mark. and expertise to simplify your entry into our region.

Clive Heaphy Martin Reeves Kevin O’Keefe, David Stevens, CEO Birmingham City Council CEO Coventry City Council CEO Dudley Council CEO Sandwell Council

Deborah Cadman Neil Rami CEO West Midlands CEO West Midlands Combined Authority Growth Company

Nick Page Dr Helen Paterson Tim Johnson CEO Solihull Council CEO Walsall Council CEO City of Wolverhampton Council

Discover how this amazing city region is once again the place to be. Come and talk to us. [email protected] www.wmgrowth.com

32 INVESTMENT INDEX AND WEST MIDLANDS MARKET DATA

CURRENT INVESTMENT COMING SOON OPPORTUNITIES TO INVESTORS ONES TO WATCH

01 Birmingham Curzon 01 Birmingham International Station 01 Creative Quarter Royal Leamington Spa 02 Eastgate, Church Hill/Homer Road, Integrated Transport Exchange Solihull 02 Former Ironbridge Power Station Solihull Town Centre 02 City Centre South Coventry 03 Springfield Campus Wolverhampton 03 Friargate Coventry 03 DY5 Dudley’s Business 04 Walsall Town Centre 04 i54 South Staffordshire Western Extension and Innovation Enterprise Zone 05 Eastern Quarter 05 Interchange Commercial District 04 Dudley Town Centre and Canalside Living Quarter Wolverhampton 05 Friar Park, Sandwell MARKET DATA 06 MIRA Technology Park Southern 06 Greater Icknield and Smethwick Manufacturing Sector Nuneaton 07 M6 Junction 10 Cluster Walsall 01 West Midlands Housing Data 07 Paradise Birmingham 02 West Midlands Investment Market 08 Perry Barr Regeneration, Commonwealth 08 Telford Investment Cluster Games 2022 and Legacy 03 West Midlands Logistics Data 09 The Brewers Yard Wolverhampton 04 West Midlands Retail Data 10 Transforming Nuneaton 11 UK Central Hub and HS2 Interchange Solihull CURRENT INVESTMENT OPPORTUNITIES 01

BACKGROUND The arrival of HS2 will be the catalyst to unlock and accelerate a range of development and regeneration initiatives including an expansion of the city’s Birmingham Curzon Birmingham will be at the heart of the UK High Speed Rail network providing office core as well as opportunities around the Science Park and Knowledge a once-in-a-century opportunity to radically enhance the city’s Hub, which is home to five universities and colleges and 25,000 students. Birmingham Curzon is a 141 hectare regeneration area at connectivity, and accelerate its economic growth potential. A brand new the heart of the city and the UK High Speed rail network. city centre HS2 station, Birmingham Curzon, will be the catalyst for a major The Creative Quarter centred on Digbeth, Birmingham’s former industrial mixed-use regeneration scheme in a prime location. The Curzon masterplan heartland, is a key part of the Curzon regeneration area and home to more sets out the City Council’s aims for the station and demonstrates the than 400 creative companies making it a powerful digital hub. Digbeth has an OPPORTUNITY regeneration potential of the surrounding 141 hectares that could result eclectic mix of street art, music venues, street food vendors, bars and pubs in a £4bn economic uplift. Centred around a new High Speed 2 (HS2) terminus station a number of major and regeneration plans aim to enhance its distinctive character and heritage investment opportunities exist for parties interested in exploring development Birmingham buildings as well as providing scope for new commercial development. partner/funder and equity investment on sites ranging up to 3.3 hectares and covering a selection of commercial and residential uses. Birmingham City Council DESCRIPTION as promoter is working with Homes England as well as private sector landowners The 141 hectare regeneration area comprises over 30 strategic development PROMOTER AND PARTNERSHIPS to help bring forward investable development projects within the Curzon opportunities and is within the extended City Centre Enterprise Zone. These Birmingham City Council as promoter is working in partnership with public regeneration area. There is a strategic opportunity to help shape projects at an sites can provide around 4,000 new homes and 600,000m2 of commercial, and private sector landowners to bring forward development as well as the early stage, as these are expected to come forward over the next 2–5 years. leisure and market floorspace. Greater Birmingham Solihull Local Economic Partnership and West Midlands Combined Authority to provide infrastructure funding. With preparatory work underway the station will be operational by 2029. THE FACTS A £724m investment programme has been agreed with the UK Government for Curzon, which will integrate the station into the city centre, lead to LOCATION Promoter: the expansion of the Midland Metro network and provide the necessary Birmingham City Council and infrastructure to unlock key sites bringing growth and development forward The Curzon HS2 terminus occupies a city centre location adjacent to main multiple private landowners within the city and beyond. retail, and business districts as well as Creative Quarter and the Knowledge Hub and benefits from exceptional local and regional connectivity. Scale: £1bn+ GDV Sector: Office, Residential, Hotel and Leisure Location: Birmingham City Centre Investment Type: Development partner/funder; Equity investor Programme: 2020–2036 Planning Status: Strategic masterplan in place Website: www.birmingham.gov.uk/birminghamcurzonhs2 CURRENT INVESTMENT OPPORTUNITIES 02

BACKGROUND • The delivery of retail, leisure, Food & Beverage and ancillary uses to create a distinctive, vibrant new quarter within the town - enhancing activity Eastgate, Solihull town centre is already a leading regional retail, leisure and office location throughout the day and into the evening, in a scheme that is connected with a number of high profile occupiers and international retailers and brands. Church Hill/Homer Road, to, and integrated with the rest of the town centre The Solihull Town Centre Masterplan identifies the strategic development • To provide a good mix of quality private and affordable housing units within opportunity sites in the town centre, as well as the additional infrastructure an attractive setting, including community space, which connects with and Solihull Town Centre requirements necessary to facilitate this development and wider growth. supports the vitality of the wider town centre Investment in accessibility through improved junctions, corridors and public Solihull Town Centre presents a range of occupier, • The provision of attractive and high-quality public spaces including a realm across the centre is underway, creating connected quarters and supporting investment and development partner opportunities. significant new public space for the town centre and linkages to create a Solihull development. Designs are being developed for a new Integrated Transport Hub lively hub and meeting place for residents, workers, shoppers and customers at Solihull rail station, incorporating new facilities and development, alongside a pioneering Low Carbon Energy Network, reducing operational costs for new and OPPORTUNITY • To improve town centre permeability and pedestrian flows through existing commercial and public sector schemes. Through a phased development approach, the Business & Commercial Quarter the provision of high-quality linkages, spaces, paths and other transport movements offers opportunities from 2020, the first being the Council’s Westgate scheme to The first opportunity site to come to market, led by the Council, is the 2 deliver 10,600m of Grade A office and collaborative space at the head of Homer 10,600m2, Grade A office development Westgate: 21 Homer Road – delivering Road between the town centre and rail station. The building will be ready for prime collaborative working spaces in a key location between the High Street PROMOTER AND PARTNERSHIPS occupation in Summer 2022 and occupier interest is invited. and Solihull rail station. The site is under the majority ownership of Solihull Metropolitan Borough Solihull Metropolitan Borough Council are also inviting developers to engage and Council, with third party ownerships to the north of the masterplan site explore innovative design and delivery solutions for the development of Eastgate, Bookending the Business & Commercial Quarter, the Eastgate, Church Hill/ alongside the High Street. Church Hill/Homer Road - a prime site within the Quarter. The site will incorporate Homer Road site is strategically significant with connectivity into the High civic and office functions for the Council alongside prime residential and mixed- Street Retail Core. Its scale and potential are highly significant for Solihull. The site is being promoted by Solihull Metropolitan Borough Council, use retail and leisure opportunities at the heart of Solihull town centre. supported by the West Midlands Combined Authority. THE FACTS DESCRIPTION The project objectives for the Eastgate site and the desired outputs are: Promoter: LOCATION Solihull Metropolitan Borough Council • The re-provision of Council accommodation as an ancillary occupation, Located immediately off Junction 5 of the M42 Motorway, the town Scale: which offers public facing co-located services within a building which is centre offers exceptional connectivity via road and rail. Solihull town £100m+ GDV flexible and capable of adapting to future change centre is minutes away from Birmingham Airport, connecting to 140 direct international destinations, and the planned High Speed Interchange station Sector: connecting to London in 38 minutes. Housing, Commercial and Retail Location: Solihull Town Centre Investment Type: Development Partner Programme: Market engagement commencing in Spring 2020. Preferred bidder stage currently programmed for Spring 2021 Planning Status: Town Centre site with existing town centre uses Website: www.investinukcentral.com Westgate, 21 Homer Road CURRENT INVESTMENT OPPORTUNITIES 03

BACKGROUND DESCRIPTION Friargate Coventry Less than one hour from London, Friargate is one of the largest mixed-use The whole development will provide 297,290m2 and generate 15,000 new jobs. developments in the West Midlands. An ambitious new business destination, In total, Friargate will deliver 25 sustainable new buildings including 213,677m2 Friargate is an Office-led mixed-use and multi-phase Friargate is delivering prime new office space, hotels, homes, shops, of Grade A offices, two hotels, 19,974m2 of retail, up to 400 new homes plus development providing many options for investment. restaurants and public space – all next to 10,219m2 of leisure space. and a five minute walk from the city centre. Planning Consent for a second office building, Two Friargate, has been OPPORTUNITY Selected as UK City of Culture in 2021 and taking part in the 2022 Commonwealth granted, extending to 12,635m2 net. Detailed construction design is Friargate JV Project Limited is open to various investment structures Games, Coventry is a city very much on the rise. One Friargate completed in underway to deliver a contemporary Grade A office building, perfect 2 2 to accelerate the delivery of future phases including offices, residential, September 2017 and fully occupied with 2,323m of the 11,613m floorspace let for modern business. The hotel is further advanced with planning retail, leisure and hotels. Coventry to The Financial Ombudsman Service, an inward investor with a view to possible consent and a contractor appointed in readiness for a start on site expansion as further buildings are brought forward. Friargate has already delivered a framework of new infrastructure, new public spaces and the first high quality office building, One Friargate, The building won a number of awards in 2018, including the British Council for PROMOTER AND PARTNERSHIPS occupied by Coventry City Council and The Financial Ombudsman Service. Offices (BCO) regional awards: Best Corporate Workplace and the LABC West Friargate JV Project Limited is a UK registered limited company established The project is about to commit to a new 100-room boutique hotel for Midlands Awards: Best Public Service Building. to deliver the Friargate project. It is owned and controlled by Coventry City completion in 2021 and a second office building, Two Friargate for 2023. Council and the Cannon Kirk Group, a Dublin-based development and THE FACTS Friargate also won the 2017 West Midlands Regeneration Project of the Year, property investment business that includes US venture capital, Oaktree West Midlands Property Awards. Capital Management, among its shareholders. Promoter: Friargate JV Project Limited The JV Company consolidates a long-standing working arrangement with Scale: Coventry City Council to help accelerate project delivery while working £700m+ GDV closely with Coventry and Warwickshire Local Economic Partnership, and Sector: West Midlands Combined Authority. Office led mixed-use Location: LOCATION Coventry City Centre Friargate benefits from direct access to London in under an hour and is only a Investment Type: 10-minute train journey from Birmingham Airport – with connections to Europe, Range including partnership, direct China, India, Australia, Dubai and the USA. There are few developments, development or co-investment anywhere in the country, that are as well connected as Friargate. Programme: Under construction, phased over a 15-year period Planning Status: Friargate Masterplan approved, first building built, second building with detailed approval Website: www.friargatecoventry.co.uk CURRENT INVESTMENT OPPORTUNITIES 04

BACKGROUND PROMOTER AND PARTNERSHIPS i54 South Staffordshire The i54 South Staffordshire Business Park is home to Jaguar Land Rover’s The City and County Councils will be working as a Joint Venture and are fully Engine Manufacturing Centre, Moog Aerospace and other global businesses. supported by the Black Country and Stoke and Staffordshire Local Enterprise Western Extension With its own direct access to J2 of the M54 Motorway the scheme is highly Partnerships and West Midlands Combined Authority. accessible to the national road and rail network. i54 South Staffordshire Western Extension is an Advanced Manufacturing South Local Authority partners, City of Wolverhampton Council, Staffordshire LOCATION development adjacent to Junction 2 of the M54 Motorway. Staffordshire County Council and South Staffordshire Council, who delivered the successful i54 South Staffordshire is an internationally significant advanced engineering i54 South Staffordshire business park, have progressed plans to extend the business park occupying a prime location in the centre of the UK, within the existing park with this new development opportunity well underway. Black Country Enterprise Zone. Its position adjacent to the M54 Motorway, OPPORTUNITY and its own dedicated access to Junction 2, makes it one of the best- The Western Extension at the i54 South Staffordshire development is seeking connected and most central hubs for advanced manufacturing in the UK. a development partner and investors for forward funding of new development DESCRIPTION with an identified occupier. Within the 40 hectares site 24 hectares are owned by City of Wolverhampton It is already home to a number of leading manufacturers and has been the Council and 16 hectares owned by Severn Trent’s property vehicle, Midlands focus of huge investment from Jaguar Land Rover as it consolidates its plans The opportunity to shape a highly significant public and private sector led Land Portfolio Ltd. All parties are collaborating to realise the full potential of for growth in the West Midlands, building on the existing expertise in the UK’s employment project which will deliver up to 40 hectares for development and the site with 24 hectares providing up to 100,000m2 of floor space and the traditional manufacturing heartland. help continue the expansion of the growing cluster of advanced manufacturing remaining 16 hectares a further 60,000m2 . businesses around i54/Junction 2 of the M54 motorway. Working with Black Country and Stoke and Staffordshire Local Enterprise The project will help address the regional shortfall in strategic employment Partnerships the partners have secured outline planning consent for the land targeted specifically at high value manufacturing. 24 hectares and associated access road.

THE FACTS Construction of the access road will be completed early 2020. Platform Preparation and Services Infrastructure works will follow in Spring 2020 Promoter: with development plots being available during 2021. City of Wolverhampton Council, Staffordshire County Council, South Staffordshire Council and Severn The site’s location with excellent regional and national accessibility makes 2 Trent’s property vehicle Midlands Land Portfolio Ltd i54 a highly desirable investment opportunity. Further Investment in land and Scale: Infrastructure is planned for the wider M54 Junction 2 area including the £200m+ GDV proposed West Midlands Rail Interchange at Four Ashes approximately four kilometres north of the i54 development. M54 Sector: Advanced Manufacturing – Aerospace, Automotive, NEW ACCESS ROAD Technical, Research & Development COMPLETION SPRING 2020 Location: i54 South Staffordshire (Junction 2 of M54) Investment Type: 100 ACRE EXTENSION

i54 South Staffordshire Developer partner; forward funding - Western Extension with an identified occupier NEW ACCESS ROAD Programme: 100 ACRE EXTENSION 2020–2025 Planning Status: M54 Outline planning consent for 24 hectares. 2 Access road and infrastructure under construction. Dedicated Motorway Access Website: www.i54online.com CURRENT INVESTMENT OPPORTUNITIES 05

BACKGROUND PROMOTER AND PARTNERSHIPS Interchange Commercial The Wolverhampton Canalside and City Interchange project is the next The Canalside and Interchange programme is promoted by City of phase of a highly successful city centre mixed use regeneration programme, Wolverhampton Council in partnership with Canal and River Trust, Ion District and Canalside providing direct access into the High Speed 2 (HS2) network. Development, West Midlands Combined Authority, Homes England, Network Rail, West Midlands Rail, Virgin Trains and Midland Metro Alliance. It forms The £150m transformation to the Interchange area is creating an part of the West Midlands Combined Authority’s Walsall to Wolverhampton Living Quarter integrated commuter hub and modern railway station incorporating Inclusive Growth Corridor programme. Wolverhampton more than 4.7 million passengers a year, improved facilities for motorists A mixed-use city centre development with Offices adjacent and cyclists and extended Metro services. Works to redevelop the station began in December 2017 and works for the tram extension are underway. LOCATION to City Interchange and Canalside living within five minutes walk. Located side by side in a unique waterside location, Interchange Commercial Less than five minutes’ walk from the City Interchange, Canalside Quarter will District and Canalside Living Quarter are situated in an enviable city centre represent an extension to the city centre, by offering residential, leisure and OPPORTUNITY location at the heart of the City’s integrated transport network. commercial opportunities within a historic setting. The historic infrastructure The promoters welcome the interest of developers and investors for a range of the canal, railway viaduct and associated heritage Victorian buildings of opportunities around the Canalside/Interchange area, across a range of provide a rich multi-layered canvas within the site. investment and delivery structures.

Plots within the Canalside and City Interchange area offer investment suitable DESCRIPTION for residential, leisure and commercial developments. Potential exists for up to Wolverhampton has the potential around the transport interchange to grow 92,903m2 of commercial and leisure floorspace aligned to the excellent location its office offer by up to 93,000m2 over ten years. This would allow the City of the City Interchange as well as over 1,000 new homes as part of the first phases to capitalise upon its location and connectivity as a Commercial Gateway of of the Canalside Quarter. regional significance. The centrepiece being i9 – a distinctive new landmark office building within two minutes’ walk of the railway station and five minutes THE FACTS from the city’s retail centre.

Promoter: The construction of the new station building is due to be completed in 2020. City of Wolverhampton Council, Canal & River Trust Alongside this a new multi-storey car park completed in 2017 which serves Scale: Interchange with much improved access arrangements enabling the metro £250m+ GDV line extension to come forward. The construction of the next phase of the Interchange masterplan, i9, has commenced onsite delivering 6,503m2 of Sector: Grade A office space. Mixed-use Location: Wolverhampton Investment Type: Developer partner/funding, equity Programme: The City Centre regeneration programmes identifies a range of sites for delivery across 0-3, 3-6 and 6-10 year programmes with associated infrastructure Planning Status: Planning certainty provided by recently adopted Area Action Plan and Masterplan signalling use-type but remaining flexible on detailed design Website: www.investwolverhampton.com CURRENT INVESTMENT OPPORTUNITIES 06

BACKGROUND PROMOTER AND PARTNERSHIPS MIRA Technology MIRA Technology Park is one of the UK’s leading Enterprise Zones, and with The Technology Park development is being promoted and delivered by over 40 major international automotive engineering companies such as Bosch, HORIBA MIRA who are both owners and operate their facilities from the Park Southern Toyota and Jaguar Land Rover as occupiers, it comprises Europe’s largest and Park. HORIBA MIRA works closely with key stakeholders in the Enterprise fastest growing automotive R&D cluster. Zone and Southern Manufacturing Sector which includes Leicestershire and Coventry & Warwickshire Local Economic Partnerships, West Midlands Manufacturing Sector The Technology Park lies at the centre of the UK’s automotive heartland, within Combined Authority, Hinckley and Bosworth Borough Council and North an economic growth corridor accessed from the newly upgraded A5 between Warwickshire Council. This major southern extension to HORIBA MIRA’s Technology Nuneaton Atherstone and Hinckley in Warwickshire. Park provides for a further automotive-related development LOCATION in Nuneaton, Warwickshire. DESCRIPTION Being situated on a major arterial route with excellent transport links in the The Technology Park contains 40 major test facilities and over 106 kilometres centre of the Midlands, MIRA Technology Park has exceptional access to those of test tracks making it a world-class facility and a global attraction for manufacturing and supply companies at the heart of the UK automotive sector. OPPORTUNITY companies to the UK. The synergy between the industry cluster and facilities The location, together with the UK’s most comprehensive automotive proving A £200m funding opportunity for occupier-led investment in the industrial sector at the existing MIRA Technology Park provides an opportunity for companies ground and test facilities, makes MIRA Technology Park the preferred site for with potential also for a multi-phased development approach. at the forefront of new transport technologies to capitalise on this centre of many world-class automotive brands. technological development in the transport industry. The Southern Manufacturing Sector provides a rare opportunity for a strategic automotive-related manufacturing facility with associated links to the extensive Whilst the Technology Park benefits from an existing planning consent R+D facilities at MIRA. for 139,716m2, on completion it will comprise 394,830m2. The Southern Manufacturing Sector comprises an additional 59 hectares linking directly into THE FACTS the existing MIRA Technology Park site. It provides a highly complementary opportunity for approximately 232,250m2 of automotive related advanced Promoter: manufacturing facilities. HORIBA MIRA Ltd The site benefits from the recent delivery of major power and road infrastructure Scale: investment to facilitate the development of MIRA Technology Park. Whilst £260m GDV progressing through planning an early application would enable delivery Sector: of the development by late 2021. Industrial with focus on automotive manufacturing and R+D Location: Nuneaton, Warwickshire Investment Type: Forward funding for identified occupier(s) Programme: 2020–2022 Planning Status: The site is identified in the draft local plan for employment use (B1/B2) associated with MIRA and the automotive industry Website: https://www.miratechnologypark.com/ CURRENT INVESTMENT OPPORTUNITIES 07

BACKGROUND Paradise Phase Two includes One Centenary Way, a 26,010m2 office building, with space for shops and restaurants at the ground and upper ground level Paradise Located on a 69,000m2 site at the city’s heart, Paradise links Birmingham’s civic due for completion in late 2022; A new 4 star hotel with approximately 250 and cultural quarters. Comprising ten individually designed buildings across bedrooms; and Three Chamberlain Square, offering 13,006m2 of Grade A the £1bn development, it is one of the largest and most strategically important Birmingham Offices/Retail together with new public realm, including Ratcliff Square, city centre schemes outside of London. Paradise comprises almost 185,000m2 will complete Phase Two in approximately 2023. of high quality commercial, retail, leisure and hotel space, all set in superbly Paradise is a high quality mixed-use development that introduces crafted public realm, truly befitting its exemplary historical setting. new public realm to a historic city centre setting. Phase Three has outline planning permission to deliver a further five buildings and a new large public square, completing the improvements in pedestrian Phase One lettings are well progressed. International professional services connectivity and public space across the city. This will encompass 64,855m2 firm PwC has taken all the 13,935m2 of commercial space in One Chamberlain of Grade A office and ground floor retail space. The project is within the OPPORTUNITY Birmingham Square and relocated its 2,000 strong Birmingham team in January 2020 with Birmingham City Centre Enterprise Zone (EZ) and has delivered infrastructure The opportunity for investment is available in partnership with Hermes the potential to accommodate a further 300 people by the end of 2020 in its works with EZ funding. Investment Management, including co-investment/development finance cutting edge space. Indian eatery Dishoom will be located on the ground floor. to support Phases two and three or on a building-by-building basis. Leading global business law firm DLA Piper will relocate to Two Chamberlain PROMOTER AND PARTNERSHIPS Argent and Hermes enjoy a strong track record for delivery with a particular Square in 2020, taking 3,716m2 on the top two floors. Award winning wine bar strength in the creation of successful city-centre, mixed-use developments. and restaurant Vinoteca will open in Spring 2020. The project promoter is a joint venture between Hermes and Birmingham Paradise will benefit from the continuity and commitment of this working City Council. The Paradise redevelopment is being brought forward through partnership that has already delivered 408,770m2 of development through Paradise Circus Limited Partnership (PCLP), a private-public joint venture. some of the most significant and challenging regeneration projects in the UK DESCRIPTION PCLP is delivering the enabling works including the creation of serviced development platforms for the Building Developers. The private sector including Brindleyplace in Birmingham, Piccadilly in Manchester and King’s Phase One comprises One Chamberlain Square and Two Chamberlain Square funding for the specific buildings is being managed by Hermes Investment Cross in London. providing 15,980m2 and 17,000m2 of Grade A office and ground floor retail Management, which has partnered with Canada Pension Plan Investment space respectively. Works to complete in Spring 2020 also incorporate the Board (CPPIB) on the first phase of the development. THE FACTS much improved and enhanced Chamberlain Square and connected public realm, together with associated highways alterations and a basement car park that initially provides up to 300 car park spaces. This will link with the Promoter: LOCATION Paradise Circus Limited Partnership completion of other significant neighbouring projects such as the West Midlands Metro extension to Broad Street, the £13m refurbishment of Paradise sits at the true heart of the city, between the Council House, Town Scale: Centenary Square and HSBC’s relocation of its business and personal Hall and Museum & Art Gallery and the business and entertainment zones £700m GDV banking headquarters from London to nearby Broad Street. further west. Easily accessible, and with its own tram stop, the development Sector: is also just a few minutes’ walk from New Street station and Grand Central. Mixed-use including commercial, retail, leisure and hotel Location: Birmingham City Centre Investment Type: Development partner or funder Programme: Phase Two, 2019 - 2023. Phase Three and project completion 2027. Planning Status: Paradise masterplan for all phases has outline planning consent Website: www.paradisebirmingham.co.uk CURRENT INVESTMENT OPPORTUNITIES 08

BACKGROUND All the sites that form the investment opportunity benefit from allocation in the adopted local plan. In addition a large proportion of sites are also subject to Telford Investment Telford located west of Birmingham on the M54 was created as a New Town in outline planning consent granted in December 2018. 1968 and retains a legacy of publicity owned land for commercial development, predominantly in the ownership of the Government through Homes England. Cluster The Telford Investment Cluster is particularly attractive at a time, and in support, of the drive for growth through the UK Government’s Industrial Strategy. Already boasting a central location, access to a skilled workforce and This cluster offers sites for new Industrial or Advanced Telford affordably priced land, the town is transforming the land offer into immediately Manufacturing development strategically located close deliverable opportunities free from constraints. The Telford Land Deal PROMOTER AND PARTNERSHIPS to the M54 corridor. conceived in April 2016 differentiates Telford from its rivals. The project is being promoted by Telford and Wrekin Council in partnership Since its launch, the Telford Land Deal has attracted £236m of investment to the with Homes England and The Marches Local Enterprise Partnership. OPPORTUNITY area and promoted the sale of £27.3m worth of land. It has created over 1,100 new jobs as well as stimulating the construction of over 86,000m2 of commercial floor Telford Investment Cluster is an immediate investment opportunity for LOCATION developers, equity investors and forward funding for identified occupiers. space. Investors include Magna International, a supplier to nearby Jaguar Land Rover and German plastics and polymer specialist Craemer Group. Telford is the fastest growing town in the West Midlands with over 600,000 people living within a 30-minute peak time recruitment catchment area. As The cluster of sites is an industrial sector opportunity on 50 hectares of a new town Telford benefits from a modern road network ensuring excellent prime development land, and part of the region’s Advanced Manufacturing connectivity for businesses with direct links to the highway network, four and Innovation Corridor. The sites available for purchase provide the ability DESCRIPTION airports within an hour’s drive and a direct train link to London. to deliver a mixture of industrial units to meet demand from national and Whilst significant investment has already been secured in the area there international firms in a highly skilled employment location. remains a strong continuing demand for industrial floor space.

The delivery of the sites is underpinned by a multi-skilled consultancy service THE FACTS BIT-Group, wholly owned by Telford and Wrekin Council, who provide a full turnkey solution, and with no barriers preventing development in Telford. Promoter: Therefore as a developer/investor there is the ability to deliver a range Telford and Wrekin Council of industrial units to meet demand and spread risk in already established Scale: employment locations along the northern edge of Telford. £105m GDV Sector: Each development within the cluster can be delivered in phases and therefore Industrial and Advanced Manufacturing the opportunity exists for positive return for longer term investment over the phased construction period. Location: Telford, Shropshire Investment Type: Developers, equity investors and forward funding for identified occupiers Programme: 2020 onwards Planning Status: Allocation for employment use in the adopted Local Plan. Website: www.enterprise-telford.co.uk COMING SOON TO INVESTORS 01

BACKGROUND PROMOTER AND PARTNERSHIPS Birmingham International The UK Central Hub in Solihull is set to become a world-leading, international The UGC is a local, special-purpose delivery vehicle established and wholly gateway, at the heart of the UK, bringing together air, rail and road networks. owned by Solihull Council and supported by the West Midlands Combined Station Integrated As well as being home to Birmingham Airport and providing direct access to Authority and Greater Birmingham & Solihull Local Enterprise Partnership. the UK’s Motorway network, The Hub also boasts Birmingham International The UGC oversees and coordinates investment into the UK Central Hub in Station, which will be directly connected to the new HS2 Interchange Station order to fully maximise the economic opportunities associated with the Transport Exchange via a new automated people mover. arrival of high speed rail.

This redevelopment will transform Birmingham International Station With the arrival of high-speed rail, forecasts suggest that the number of The UGC is seeking a suitably experienced commercial partner to work with passengers using Birmingham International Station will increase by 239% the company to complete the design and build of this high-profile transport into one of the world’s best-connected, fully-integrated and multi-modal Solihull over the next 20 years. exchange. transport exchanges. This project will seamlessly incorporate existing rail and high-speed rail connectivity, light-rail Metro trams and a people The Urban Growth Company (UGC), a special-purpose delivery vehicle mover, traditional and Sprint buses, private vehicles, cycles and pedestrians, established to coordinate and deliver infrastructure and development LOCATION across The Hub more widely, is leading the plan to redevelop and transform creating a new and outstanding gateway to the UK. The UK Central Hub in Solihull is at the heart of the UK’s transport network, Birmingham International Station. offering development opportunities that have direct access to the national rail network, future high speed rail, Birmingham Airport and the Motorway OPPORTUNITY network. It is also home to world-class assets such as the National Exhibition THE FACTS DESCRIPTION Centre and major international businesses including Jaguar Land Rover, Rolls This is an opportunity to become involved with a large-scale The plan to create a fully-integrated transport exchange at Birmingham Royce and Fujitsu. and high-profile transport redevelopment project which offers Promoter: International Station – bringing together multiple modes of transport a long-term return on investment. The Urban Growth Company on behalf of Solihull Council ahead of HS2’s arrival – is one of a number of initiatives and projects Scale: being progressed by the UGC at The Hub. The plan is to redevelop the current Birmingham International Station on the Up to £350m GDV UK’s West Coast Mainline and create a world-leading, multi-modal transport The UGC’s Hub Growth & Infrastructure Vision predicts that there is the Sector: exchange providing new connections to surrounding assets including potential to create an environment which will support 70,000 jobs, 5,000 Infrastructure and Commercial Birmingham Airport, the National Exhibition Centre, Jaguar Land Rover, homes and 650,000m2 of commercial space, generating £6.2bn GVA Birmingham Business Park and the new HS2 Interchange Station at the Location: per annum – the same as the city of Southampton. Arden Cross development site. Solihull Investment Type: Through vastly-improved transport connectivity, there is also an opportunity According to a recent MODex benchmarking assessment, Infrastructure and Construction to bring 1.3m people to within a 45-minute public transport commute of The this redevelopment will move Birmingham International Station Hub, above and beyond the immediate impact of HS2. into the world’s top-ten best connected transport exchanges, alongside Programme: the likes of Kings Cross St Pancras and Beijing’s Wangjing Station. 2020–2026 Planning Status: Early market engagement will begin in March 2020 for this six-year Subject to planning consent in 2020/21 redevelopment project. Website: www.ugcsolihull.uk COMING SOON TO INVESTORS 02

BACKGROUND As well as creating an exciting destination in its own right, City Centre South will act as an interface between a number of other key city centre schemes, City Centre Shearer Property Group is appointed as the Developer to deliver the City which together will regenerate the whole city centre and deliver a step change Centre South scheme. The group have a proven track record of delivering in people’s perceptions of the city. South Coventry mixed-use development including Southgate Centre Bath, Grand Arcade Cambridge, the Former Dickins & Jones Department Store in Regent Street London and Parkway, Newbury. City Centre South Coventry is an urban mixed-use development PROMOTER AND PARTNERSHIPS with significant residential, retail and leisure components. Located in a strategically important location close to the railway station, the City Centre South has specifically involved Shearer Property Group working in Friargate Business District and the Council’s new Waterpark, City Centre South partnership with Coventry City Council, West Midlands Combined Authority will deliver an ambitious multi-million pound mixed use urban regeneration and Coventry & Warwickshire Local Enterprise Partnership. OPPORTUNITY Coventry scheme transforming both the quality of Coventry’s residential, retail and The developer, Shearer Property Group, welcomes the interest of wider city centre offer and the surrounding physical environment/public realm. development funding partners to discuss a range of investment LOCATION opportunities associated with the City Centre South development. The City Council has secured a £98.8m grant from the West Midlands A city full of potential in a great location at the heart of the UK, just one hour Combined Authority towards the cost of the scheme. from London Euston rail terminus. A young and vibrant city attracting new City Centre South marks the next stage of the ongoing regeneration of investors with continuous development and regeneration. The city has two Coventry’s city centre. The site is located in the southern part of the city world renowned universities, over 55,000 students and European City of Sport centre and comprises 69,000m2 including Bull Yard, Shelton Square, DESCRIPTION 2019, UK City of Culture 2021 and Commonwealth Games 2022 Partner City. Market Way, City Arcade and Hertford Street. Shearer Property Group’s development proposal for Coventry will deliver a cutting edge retail and leisure offer, a significant number of new homes (for THE FACTS sale and rent), restaurants, hotel and other city centre uses to provide a vibrant, modern live, work and play experience. Promoter: Shearer Property Group The scheme is set to deliver a range of transformational benefits, including the creation of around 1,500 permanent jobs and over 2,000 construction jobs, Scale: increased footfall to the city centre, a significantly broadened catchment visitor £450m+ GDV population and generation of an extra £20 million a year of income to the city. Sector: Mixed city centre uses with significant retail, leisure and residential components Location: Coventry City Centre Investment Type: Range including partnership, direct development or co-investment Programme: 2020–2026 Planning Status: Progressing towards an outline planning application Website: www.spglondon.com COMING SOON TO INVESTORS 03

BACKGROUND Investment options in the six areas include: DY5 Dudley’s Business DY5 covers 70 hectares, with six main areas offering office, technology, Waterfront – 8 hectares comprising existing commercial office space leisure and residential high density mixed-use development opportunities suitable for refurbishment and potential residential conversion. and Innovation all within an attractive waterfront location. It has already attracted millions of pounds of new investment and has delivered new speculative industrial Archill – 17 hectares with potential for a mixed-use office development. Further investment is now required to deliver future commercial and residential development. Enterprise Zone and residential opportunities. Harts Hill – 14.5 hectares with potential for industrial development. The enterprise zone is set to benefit from major infrastructure investment, DY5 Enterprise Zone offers new opportunities in mixed-use Dudley improving connectivity and adding to the attractiveness of the area. The Industrial, Residential and Office developments. Canal Walk – 7 hectares with potential for a residential led £449m Wednesbury to Brierley Hill Metro Extension will provide a direct link to mixed-use development. Birmingham and the wider West Midlands by 2023. The enterprise zone is also home to a new Music Institute, ‘Resonance’, which will open in 2020, providing OPPORTUNITY Blackbrook Valley – 6 hectares with potential for industrial development. degree qualifications in a range of specialisms linked to the music industry, Dudley Council is seeking to secure a development partner and equity including sound production, lighting and staging. investor for forward funding new industrial, office, retail, residential and Pensnett – 17.5 hectares of recently delivered industrial development. mixed-use development. The promoter particularly welcomes interest in establishing long-term development partnerships. DESCRIPTION PROMOTER AND PARTNERSHIPS DY5, created in 2017, includes exciting new investment opportunities for Dudley Council is working to deliver refurbished floor space and new The promoter, Dudley Council, is bringing forward the sites working closely residential, office and mixed-use development. It can offer business rate relief mixed-use development across six areas. There is a strategic opportunity with the Black Country Local Economic Partnership, West Midlands Combined for commercial occupiers, streamlined local authority planning support and to help shape the nature and usage of the projects at an early stage, Authority and private sector partners. potential to access land remediation funding for new development. over the next three to five years.

THE FACTS LOCATION Dudley is undergoing an exciting transformation with over £1bn of Promoter: investment on site or planned for development in the coming years. Dudley Council It is the historic capital of the Black Country, a region located in the heart Scale: of the West Midlands and the centre of the UK. It is close to the M5 and M6 £100m GDV Motorways, just 13 kilometres from Birmingham City Centre and within easy Sector: reach of Birmingham Airport. Mixed use Industrial, Residential and Office Location: Dudley Investment Type: Development partner; Equity investor Programme: 2020–2025 Planning Status: Planning certainty provided via a Local Development Order and an outline design led masterplan signalling use – type and suggested development density Website: www.dudleybusinessfirst.org.uk COMING SOON TO INVESTORS 04

BACKGROUND The sites available for development will not only complement the planned £82m Portersfield retail, residential and leisure development but will be Dudley Town Centre The aim is to improve economic performance of the town centre and part of a package of over £500m of investment planned for the town centre capitalise on the £1bn of investment planned or on site in the borough in the next five years. In addition to transport improvements, a new ‘Very A town centre offer that is seeking partners for mixed-use over the coming years. Light Rail’ innovation centre, backed by Warwick Manufacturing Group will developments across a comprehensive investment programme. begin construction in 2020, providing a test track and innovation centre for The investment programme takes a multi-dimensional approach and includes an exciting light rail solution. It also includes incubator space for startups developing the visitor economy, promoting new retail, leisure, commercial and focussing on the new technologies that Very Light Rail will bring. OPPORTUNITY housing uses within the town centre, and improving connectivity in the town, with direct connections to national and international rail and airport hubs. Dudley Council is seeking investors to work in partnership with the local Dudley The announcement of funding from the West Midlands Combined Authority authority, West Midlands Combined Authority and Homes England to bring for the St Thomas Quarter (Dudley Town Centre) will provide further Improvements to the urban environment include the improvement of heritage forward a phased programme of development of residential, retail, leisure investment opportunities for town centre led residential schemes assets and underutilised opportunity sites and buildings. These will create and employment projects across Dudley Town Centre. to compliment the planned investment elsewhere in the town. improved conditions to enable the private sector to invest into the town, This comprehensive investment programme includes the following projects: bringing vacant premises back into use and improve accessibility to generate increased levels of visitor attraction. PROMOTER AND PARTNERSHIPS • Portersfield retail, leisure and residential scheme Dudley Council is developing this programme with support from the • Dudley Transport Interchange A new Institute of Technology, offering qualifications in modern manufacturing Black Country Local Economics Partnership. Partners including Avenbury • Housing and employment sites technologies, will bring a further 500 students into the town centre and the Developments, Midland Metro, Transport for West Midlands, Heritage Lottery • Dudley Gateway infrastructure package £24m ‘Forging Ahead’ initiative will see the Black Country Living Museum expand further working with Dudley Zoological Gardens, home to the Fund, European Regional Development Fund, Dudley Zoological Gardens, THE FACTS Medieval Dudley Castle and Dudley Canal and Tunnel Trust. There is a major Black Country Living Museum and the University Technical College. opportunity to significantly develop the visitor offer in the town centre. Promoter: Dudley Council LOCATION Scale: DESCRIPTION Dudley is undergoing an exciting transformation with over £1bn of investment £110m GDV The project comprises a number of significant (vacant) sites in a town on site or planned for development in the coming years. Sector: centre location. The development of a new Midland Metro line through It is the historic capital of the Black Country, a region located in the heart Mixed-Use. Housing, employment and leisure Dudley Town Centre in 2023, complemented by a new transport interchange which will ensure that the town centre is well connected to the remainder of the West Midlands and the centre of the UK. It is close to the M5 and M6

Location: of Dudley and the wider region. Development of these sites will help Motorways, just 13 kilometres from Birmingham City Centre and within easy Dudley Town Centre Dudley in delivering a step change in terms of economic development reach of Birmingham Airport. Investment Type: and regeneration. Developer partner Programme: 2020–2025 Planning Status: Design phase with a masterplan in accordance with Local Plan policies Website: www.dudley.gov.uk COMING SOON TO INVESTORS 05

BACKGROUND PROMOTER AND PARTNERSHIPS Friar Park, Sandwell Following the West Midlands Combined Authority’s acquisition of the former Sandwell Council are promoting the site together with West Midlands Sewage works from Severn Trent, the Friar Park site is now jointly owned Combined Authority and the Black County Local Enterprise Partnership. The promoters will be seeking a delivery partner to invest by Sandwell Council and the Combined Authority. The two partners have and develop this residential led development, that is in close signed a joint agreement to work together to bring forward a comprehensive LOCATION proximity to the heart of UK’s Motorway and Rail network. residential scheme on one of the largest and longest neglected brownfield sites in the region. It is intended that a detailed Masterplan will be prepared to Sandwell is home to 325,000 people and around 9,000 businesses who guide the residential scheme and this will be followed by an Outline Planning collectively employ over 140,000 people. Sandwell is strategically located Sandwell OPPORTUNITY Application to establish the principle of development. adjacent to the UK’s second city and with 90% of the population of England and Wales less than 2 hours away accessible either from the Strategic Road Friar Park is a residential development opportunity for 750 new homes Network (M5 and M6 Motorways) or from the national rail network. in the Bescot and Friar Park Priority Intervention Area. Working jointly, DESCRIPTION Sandwell Council and West Midlands Combined Authority intend to The site is in an area of the West Midlands region with strong housing promote a planning application and undertake remediation. Once demand. Sandwell Council’s housing need has been calculated as 1,450 de-risked, they will seek a partner to deliver the scheme. homes per year for the period 2014-2036 and this strategic site provides the best and largest opportunity to contribute towards the delivery of this supply. The site extends to approximately 26 hectares with 14 hectares owned THE FACTS by Sandwell Council and the remainder by the West Midlands Combined Authority. The Combined Authority have allocated funding to enable the Promoter: remediation of the site to be completed. Sandwell Metropolitan Borough Council & West Midlands Combined Authority A planning application is anticipated during 2020, with the first phase of remediation in 2021. Construction is planned for 2022 and beyond. Scale:

£150m GDV Sector: Residential led development Location: Sandwell Investment Type: Delivery partner Programme: 2020–2025 Planning Status: The site is allocated in the adopted Development Plan for residential development Website www.sandwell.gov.uk/FriarPark COMING SOON TO INVESTORS 06

BACKGROUND In the adjacent area falling within Birmingham City Council boundary, public sector partners have been active with land assembly to bring forward 3,000 Greater Icknield The areas of Greater Icknield and Smethwick are prime development areas. homes, the most recent of which has been the acquisition of the majority of The location is in close proximity to extensive retail and leisure facilities in the Birmingham City Hospital site by Homes England. This facility is being Birmingham City Centre and affords direct access onto the region’s highway and Smethwick masterplanned by Homes England and will subsequently be marketed to network, with easy access to the national Motorway and Rail networks, investor developers for 800 new quality homes. In 2018, the first phase of 207 including the planned High Speed Rail (HS2) station at Birmingham Curzon. Greater Icknield and Smethwick is a significant Residential led new homes and open space on Icknield Port Loop also commenced. Major mixed-use development at the heart of the West Midlands region. infrastructure improvements are planned along Dudley Road, as the main DESCRIPTION connection to the city centre, and a new secondary school is also planned for the area. Greater Icknield and Smethwick are identified as strategic development areas OPPORTUNITY Sandwell/Birmingham to accommodate large areas of growth. The promoters are open to all aspects of delivery and investment options PROMOTER AND PARTNERSHIPS with the opportunity to shape parts of the future development of sites. In Sandwell, housing delivery will be concentrated on the Grove Lane area The project is being promoted by Sandwell Metropolitan Borough Council and of Smethwick, located close to the boundary with Birmingham. The area Birmingham City Council, working in partnership with a range of private sector The project covers a development area of 137 hectares, able to accommodate will deliver up to 860 new homes over a phased period, with associated developers, the West Midlands Combined Authority, and Homes England approximately 5,000 new homes. It offers one of the largest opportunities for infrastructure to support the new community, helping to relieve the given the area’s status as a Housing Zone. brownfield regeneration in the UK and is ideally located between the centres high demand for housing land in this sought-after area. It will also assist of Birmingham and West Bromwich. in regenerating extensive areas of land surrounding the new Midland Metropolitan University Hospital which is already attracting substantial LOCATION THE FACTS investment. The first phase is under construction for 143 new modular style homes with further phases to come forward for development. The Grove Greater Icknield and Smethwick borders Birmingham City Centre and the gateway to Sandwell, part of the Black Country. A range of transport modes Project Promoter: Lane area has received Housing Zone status from Central Government and are available including bus, rail and Metro, and easy access to the Motorway Sandwell Metropolitan Borough Council granted £224,000 of capacity funding in March 2017 to assist in bringing the and Birmingham City Council development forward. The majority of land is privately owned with recent network and proximity to major retail and employment opportunities makes this area an attractive and sustainable location for investment. Scale: significant developer interest signifying the attractiveness and potential for £850m GDV investment in this area. Sector: Mixed-use Residential Location: Smethwick, Sandwell and Birmingham Investment Type: A range of delivery and investment options Programme: 2020–2027 Planning Status: The sites are allocated in the adopted Local Plans Website: www.birmingham.gov.uk/planning www.sandwell.gov.uk/ GreaterIcknieldAndSmethwick COMING SOON TO INVESTORS 07

BACKGROUND Development partners can invest in delivery of the sites in different ways from land acquisition through to development finance. Walsall Council has already M6 Junction 10 Cluster The area around M6 Junction 10 is a highly attractive setting for manufacturing taken a lead role in supporting delivery of two of the key sites within the cluster and logistics businesses given its place at the heart of the UK’s Motorway to act as a catalyst for future investment. Henry Boot Developments have been This strategic cluster of sites around M6 Junction 10 offers new network, providing direct access for both customers and suppliers. Walsall selected as developer partner for the 18 hectare Phoenix 10 site, one of the industrial developments in the UK’s manufacturing heartland. Council is working to directly support the delivery of a number of vacant largest employment opportunity sites in the West Midlands region and jointly employment sites in this highly sought after area. owned by the UK Government and Walsall Council. The site is connected to and highly visible from the main Motorway network, and a significant multi- OPPORTUNITY The local road network has recently seen substantial improvements with Walsall million pound public investment has been agreed to undertake enabling works £26m of investment and Junction 10 of the M6 is due to benefit from a As promoter Walsall Council is seeking development partners and and prepare the site for the delivery of major employment space. forward funding on a number of significant sites to bring forward exciting £78m enhancement expected to commence in June 2020 and completed in Spring 2023. new industrial development. An 8 hectare former Gasholders site within the cluster has been acquired from the National Grid to facilitate future development, and Walsall Council With 58 hectares of highly accessible and developable employment land DESCRIPTION are working closely with private landowners within the cluster to support this cluster of opportunity meets increasing market demand and addresses further development opportunities. Development is being informed by The project comprises the development of a number of significant vacant the identified regional shortfall in strategic employment land. masterplanning within the Black Country Enterprise Zone. employment sites within a 1.75 kilometres radius of M6 Junction 10, some of which are defined within the Black Country Enterprise Zone. THE FACTS PROMOTER AND PARTNERSHIPS Walsall Council is working closely with private landowners and is fully supported Project Promoter: by the Black Country Local Enterprise Partnership and West Midlands Combined Walsall Council Authority who have funding available to help support delivery. Scale: £300m+ GDV LOCATION Sector: Located at the heart of the UK Motorway network at J10 of the M6 the cluster Advanced Manufacturing, is a highly attractive location for investment. In addition, the M54 which Construction Technologies, connects to the M6 at J10a provides direct connection to the i54 Business Park Transport Technologies, Logistics at J2 which is home to Jaguar Land Rover’s Engine Manufacturing Centre, Location: Moog Aerospace and other global business. There is also easy access via the M6 Junction 10, Walsall M6, M5 and M42 to Birmingham Airport as well as direct Motorway routes to Investment Type: Manchester and Heathrow Airport. Forward funding developers, and identified occupiers Programme: 2020–2025 Planning Status: Allocated employment land in the Council’s Site Allocation Document adopted in January 2019 Website: https://go.walsall.gov.uk/regeneration_intro COMING SOON TO INVESTORS 08

BACKGROUND During the Games this will provide accommodation for c. 6,500 athletes and officials; after the Games the residential accommodation will be retrofitted to Perry Barr Regeneration, Identified as a key area of growth in the Birmingham Development Plan provide more than 1,000 new homes – one and two-bed apartments and three the city is capitalising on the opportunity presented by hosting the 2022 and four-bed town houses which will be brought forward for sale and rent. The Commonwealth Games to transform Perry Barr, accelerating the delivery of an Commonwealth Games scheme will include community facilities and significant green public space. ambitious vision for the area. This transformation is a key legacy outcome for Birmingham and investment will provide much needed housing, a high quality The Games-time Village will also include a range of temporary ancillary facilities public realm, and significantly improved transport infrastructure. 2022 and Legacy such as a dining hall, a transport mall, medical facilities and a number of other essential services for athletes and team officials to use, accommodated on land This will include a redeveloped rail station and multimodal transport interchange, Perry Barr is at the heart of the Birmingham 2022 Commonwealth to the east of Wellhead Lane. The site of these temporary facilities will provide a ‘sprint’ bus rapid transit route linking Birmingham to Walsall along the A34, and for the second phase of housing growth, providing up to 500 new homes, new Games, incorporating the Athletes’ Village and revamped Alexander Birmingham a segregated 2-way cycle route, complemented by highway improvements which public space, and access to local leisure facilities. Stadium. The Games is a catalyst for growth including commercial unlock development opportunities and create a high quality environment. floorspace and ultimately more than 5,000 new homes. Land assembly to complement the highway improvements at Birchfield Developing a sense of place will also be key, creating a truly attractive lifestyle Island will enable the creation of a new ‘Birchfield Gateway’ with significant offer and distinctive location for visitors to the area through the mix of activities landmark buildings bringing a new vibrancy to the centre and accommodating OPPORTUNITY – including a new school and enhanced access to leisure facilities, high quality some 400 residential units. spaces and distinctive buildings. With more than 60 hectares of brownfield land at Perry Barr there is an opportunity for investment to deliver an exciting vision for the regeneration of Within the Perry Barr area, there are a range of further opportunities for Identified as a new Inclusive Growth Corridor for the region investment in Perry Barr as part of the Commonwealth Games legacy. residential development. Around 50 sites have been identified, with infrastructure, sustainable transport and placemaking will be the platform capacities ranging up to 300 units. for creating value uplift and sustaining growth in the Perry Barr area. The development of the Athletes’ Village together with significant investment in sustainable transport and placemaking will act as a catalyst for significant The Council is developing a disposal strategy that will set out how the sites housing growth in Perry Barr. The Village development represents the first DESCRIPTION in its ownership will be marketed for 2023 onwards. It is also developing phase of a wider programme to ultimately deliver more than 5,000 new homes THE FACTS a strategy to promote the development of sites outside its ownership. as well as driving opportunities for schemes to enhance the local centre. The development of Phase One, the residential element of the Athletes’ Village, Project Promoter: comprises new permanent accommodation on the former Birmingham City Birmingham City Council University teaching campus near Perry Barr Greyhound Stadium and the One PROMOTER AND PARTNERSHIPS Scale: Stop Shopping Centre, off the A453 Road. Birmingham City Council is assembling key sites for delivery and will work £180m GDV c. (Phase One) with other landowners to unlock opportunities. The plans for the area have Sector: also received strong support from the West Midlands Combined Authority Residential and the UK Government. Location: Perry Barr, Birmingham Investment Type: LOCATION Development partner/funder; Equity investor Perry Barr centre is just 1.6 kilometres from Alexander Stadium, which will Programme: play a pivotal role during the Games as the venue for the Opening and Closing 2020–2031 Ceremonies and Athletics competition. Planning Status: Full planning approval in place for the development of Phase One, the Athletes’ Village residential development. The wider regeneration of Perry Barr is identified in the Birmingham Development Plan (the City’s Local Plan). Website: www.birmingham.gov.uk/perrybarrregen COMING SOON TO INVESTORS COMING SOON TO INVESTORS 09

BACKGROUND Planning consent is being sought for the development during the course of 2020, with an anticipated construction start in mid - 2021. The Brewers Yard The Brewers Yard is located to the North East of the city centre and plays a major part in the regeneration of that area of the city alongside The ultimate objective will be to progress a transformational mixed-use Wolverhampton University’s Springfield Campus. Wolverhampton regeneration scheme via a delivery partnership that will deliver over 1,300 homes with complimentary mixed-use/commercial uses. Located just a few hundred metres from the train station which provides The Brewers Yard is a key city centre mixed-use regeneration site quick, direct access to Birmingham, London and Manchester, the site also Wolverhampton adjacent to Wolverhampton Railway Station and Wolverhampton offers great accessibility to the city centre and University Campuses. PROMOTER AND PARTNERSHIPS University, at the heart of the City of Wolverhampton. The objective is to deliver transformational place making, quality public open The promoters for The Brewers Yard are the City of Wolverhampton Council space and innovative construction techniques in a key city centre location. and Court Collaboration, in tri-partite Joint Venture with West OPPORTUNITY The project will support and address growing city centre housing market Midlands Combined Authority. The public and private strategic delivery partnership will look to secure demand for a quality product with mixed tenure options, and build upon existing and emerging regional and national transport infrastructure links investors and occupiers to help deliver this ambitious residential-led mixed-use LOCATION regeneration project. adjacent to Wolverhampton Railway Station and Wolverhampton University. The Brewers Yard site lies close to the city centre and adjacent to the University of Wolverhampton and Springfield Campus. It is within a Through partnership working the opportunity exists to accelerate site 5-minute walk to the City Interchange and Wolverhampton Rail station preparation and fast track delivery, leading to de-risked phasing of key investible DESCRIPTION providing direct access to London, Birmingham and Manchester and opportunities from regional, national and international funding institutions. The proposed scheme sees the regeneration of a 10-acre brownfield site to provide a mixed use development of 1,300 residential units, both a mixture into the High Speed 2 (HS2) network. of townhouses and apartments, and 5,575m2 of new retail and commercial THE FACTS space. The scheme aims to deliver high quality, affordable living in some of Wolverhampton’s tallest towers alongside high quality, well thought out public realm. Promoter: City of Wolverhampton Council The scheme is set to deliver a number of benefits to the local area, not least and Court Collaboration the new residential accommodation, but through hundreds of permanent new Scale: jobs, over 1,000 construction jobs plus built environment apprenticeships £250m GDV and training opportunities being offered to students of the university. Sector: Residential led mixed-use development Location: Wolverhampton City Centre Investment Type: Forward funding; Development funding Programme: 2020 onwards Planning Status: Anticipated during 2020 Website: www.investwolverhampton.com COMING SOON TO INVESTORS 10

BACKGROUND Planning advice has been sought for prospective developers and initial site investigations and topographical surveys are complete with no areas of Transforming Nuneaton is a well located West Midlands town providing a mix of retail, concern. This site presents a significant opportunity to introduce a mixed-use office and leisure, and currently limited amount of town centre residential. residential development into the heart of the town. Nuneaton The centre has already seen investment on the edge of the town. In 2019 CoFresh invested over £10m in a new 130,000m2 manufacturing and In addition, adjacent to the shopping area, Abbey Street is a 2.3 hectare site in distribution centre, and Goodman recently completed a new 230,000m2 unit. Aimed at creating a thriving, vibrant town with an ambitious full public ownership, with advanced plans for a leisure led development. Key In the town centre, recent investments include a 1600m2 gym from a major investigative work has already been completed alongside land assembly, with and aspirational programme of mixed-use development café/bar chain Loungers opened a 380m2 store, and work began on creating outline design currently being developed. including residential, leisure and offices. additional residential space adjacent to the first phase of the Transforming Nuneaton Nuneaton programme. Improved infrastructure has also been added with A prospectus including plans to regenerate Nuneaton town centre and the improved road and new rail links delivered by the County Council and the surrounding area are available, including a detailed capacity study for the OPPORTUNITY Coventry & Warwickshire Local Enterprise Partnership, including direct rail town, developed with advice from the planning authority. The promoters are seeking a developer for a prime development site in the services to Leamington Spa via Coventry, with further planned infrastructure heart of Nuneaton town centre. Anchored by Warwickshire County Council’s to come. new library and business centre, this 2 hectare site provides the perfect PROMOTER AND PARTNERSHIPS opportunity for a private developer to bring in new mixed uses to the town, Warwickshire County Council and Nuneaton and Bedworth Borough Council building on the new McCarthy and Stone development opposite and linking DESCRIPTION are working together with the Coventry & Warwickshire Local Enterprise to the wider ambitions for the town. Transforming Nuneaton comprises the development of several key sites in Partnership and the West Midlands Combined Authority. Nuneaton town centre alongside supporting infrastructure improvement Nuneaton town centre is the largest town in Warwickshire, near Birmingham schemes. The local councils have secured significant funding to date to and East Midlands airports and High Speed 2 Hub at UK Central, the first advance the ambitions including government’s Local Growth Fund (£7.5m), LOCATION stopping point on HS2 from London. It is also the mainline station town for Warwickshire County Council (£19.5m), West Midlands Combined Authority the 200,000m2 auto technology campus MIRA Technology Park and is on the (£1.5m) and are now developing substantial proposals for the Future High Nuneaton, Warwickshire’s largest town, lies in an area of high growth in the doorstep of two major research universities Street Fund and the Towns Fund. West Midlands, particularly in the auto, aero and logistics sectors, and is THE FACTS a rail mainline town with excellent road links. Only a short drive from both Vicarage Street is a 2 hectare site adjacent to the ring road and directly Birmingham International and East Midlands Airports and the new High Speed Promoter: linked to the primary shopping area. This newly assembled site will house 2 Hub at UK Central, MIRA Technology Park and two major local universities. Warwickshire County Council, Nuneaton Warwickshire County Council’s new library and business centre, a landmark It has direct rail connections with journey times to London of 75mins and to & Bedworth Borough Council 4,200m2 building, forming the cornerstone of this site. With recently approved Birmingham in 30mins. Scale: investment of £19.5m Warwickshire County Council will progress plans whilst £100m+ GDV working with a developer for the remainder of the site. Sector: Leisure, Office, Residential and Retail Location: Nuneaton Town Centre Investment Type: Forward funding, Joint Venture Developer Programme: 2020–2028 Planning Status: Existing employment land, detailed planning required Website: www.warwickshire.gov.uk/transformingnuneaton COMING SOON TO INVESTORS 11

BACKGROUND • Leading the redevelopment of Birmingham International Station on the West Coast Mainline to create a world-leading, multi-modal transport exchange, UK Central Hub The UK Central Hub in Solihull is a 1,300 hectare area of land in Solihull, seamlessly connecting the HS2 Interchange Station, the NEC, Birmingham just off Junction 6 of the M42 Motorway. It is home to Birmingham Airport, International Station and Birmingham Airport as well as passengers travelling the National Exhibition Centre (NEC), Birmingham International Station, and HS2 Interchange from outside The Hub; Birmingham Business Park, Jaguar Land Rover and the 140-hectare Arden Cross development site which will be the location of the new HS2 Interchange Station. The Hub sits at the centre of the UK’s transportation network and • Ensuring the future-proof supply of energy essential for the growth and decarbonisation plans of partners including Jaguar Land Rover and is unique in offering development opportunities which benefit from On behalf of Solihull Council, the Urban Growth Company’s task is to maximise Birmingham Airport, as well as development at Arden Cross; and unrivalled connectivity. With the arrival of high speed rail and with the opportunities associated with the arrival of HS2 at The Hub, by aligning the growth plans of all the stakeholders and creating a unified framework for a redeveloped Birmingham International Station at its heart, The Hub • Alongside new and improved public transport, the UGC is working with development, as well as leading and delivering major infrastructure investment. will become Europe’s best-connected destination for business, Solihull Solihull Council and Highways England to coordinate improvements to the local and strategic highway network. It is also bringing together major leisure and living; a new and outstanding gateway to the UK. The UGC’s Hub Growth & Infrastructure Vision predicts that The Hub stakeholders like the Airport and the NEC to make best use of the 40,000+ has the potential to support 70,000 jobs, 5,000 new homes, 650,000 m2 existing car parking spaces across The Hub and ensure that future provision of commercial space and generate £6.2bn GVA per annum. With vastly factors in changing patterns of car use and ownership. OPPORTUNITY improved connectivity, it also predicts bringing 1.3 million people to within The UK Central Hub in Solihull offers opportunities for long-term equity a 45-minute commute of The Hub, above and beyond the impact of HS2. investors, large-scale development funders and operational partners PROMOTER AND PARTNERSHIPS interested in infrastructure, energy, transport and large-scale, mixed-use The UGC is a local, special-purpose delivery vehicle established and wholly development. DESCRIPTION owned by Solihull Council and supported by the West Midlands Combined The UGC is delivering four key, strategic projects at The Hub to ensure it Authority and Greater Birmingham & Solihull Local Enterprise Partnership. With the new HS2 Interchange Station at its heart, a new 140-hectare THE FACTS becomes Europe’s best-connected destination for business, leisure and living: The UGC oversees and coordinates investment into the UK Central Hub in development site known as Arden Cross will form a new, mixed-use, Promoter: order to fully maximise the economic opportunities associated with the arrival sustainable urban quarter, creating an environment to deliver thousands • Working with HS2 Ltd to deliver additional and improved infrastructure The Urban Growth Company on behalf of Solihull Council of high speed rail. Approximately £52m of public investment has been secured of new jobs and homes, as well as leisure facilities and unrivalled connectivity. around the HS2 Interchange Station site, facilitating the creation of a new, in UK Central by UGC and Solihull Council over the past four years, out of a The opportunity at The Hub is unlike any other in the UK; it benefits from Scale: sustainable, mixed-use quarter at Arden Cross to deliver genuine economic planned programme of almost £400m. This is in addition to investment by a combination of factors that no other national proposal, either in place or £2bn+ GDV growth, create high-value jobs and generate opportunities for local people. partners including HS2, Birmingham Airport, NEC, Birmingham Business planned, can compete with. Sector: UGC has signed the first Construction Framework Agreement with HS2 Park, Highways England and Jaguar Land Rover. Mixed-use: infrastructure, commercial, and is co-ordinating, designing and funding a programme of significant It is unrivalled in terms of the scale of the development proposals, the healthcare and residential infrastructure improvements; infrastructure investment, the proximity to major conurbations and nine Location: LOCATION leading universities being in the vicinity. Solihull The UK Central Hub in Solihull is at the heart of the UK’s transport network, offering Additionally, Solihull boasts one of the strongest economies in the UK with Investment Type: development opportunities that have direct access to the national rail network, high levels of employment, above-average incomes and access to a highly- Long-term equity investor, large-scale development funder future high speed rail, Birmingham Airport and the Motorway network. It is also skilled workforce comprising an enviably youthful demographic. and operational partner (property, utilities home to world-class assets such as the National Exhibition Centre and major and infrastructure) international businesses including Jaguar Land Rover, Rolls Royce and Fujitsu. Programme: Phase One (up to 2023), Phase Two (2024–2028) Phase Three (2029 onwards) Planning Status: Proposed for development in Solihull Council Draft Local Plan Website: www.ugcsolihull.uk ONES TO WATCH 01

BACKGROUND The geography covers an area stretching down from the River Leam to the canal, with Bath Street as the spine, and lies between the commercial centre Creative Quarter The town is one of the most buoyant market towns in the Midlands, located of the town and the mainline railway station. It also includes some of the in an area with the fastest growth measured by productivity gains, outside of Town Centre to the North of the river including part of Hamilton Terrace London, and home to a large amount of employment in knowledge intensive Royal Leamington Spa (up to Newbold Street). and creative businesses.

The Old Town of Leamington Spa is being regenerated as The Creative Quarter will not only restore several key buildings but also create The South of the town has historically underperformed against the area to a new gateway into the town, as well as improve the routes and environment a new Creative Quarter – a focus for the burgeoning gaming the North of the river. The new Creative Quarter is a key redevelopment from the railway station to the town centre. It will support the growth of the industry and other creatives, providing cool space and the site, prime for regeneration given its location next to the station and pleasing district’s thriving creative community by establishing a sustainable creative architecture. There is a well-established talent base with high demand for urban lifestyle that is key to further expansion of one of the Royal place in Royal Leamington Spa. office space which is of high priority with the local authorities for investment. UK’s leading creative clusters. Leamington Spa There is a diverse selection of successful creative individuals and companies CDP and its partners are keen to work with investors and developers attracted by a strong pool of local talent and a lively local creative community. interested in regenerating privately owned site in the area with the potential The focus of this has been around the Old Town area, where nationally and OPPORTUNITY to be acquired and regenerated to create space to support the Creative internationally acclaimed companies such as Motion House, Heartbreak Quarter plans. A partnership is in place to both deliver projects and to encourage investment Productions and The Assembly music venue are based. in the area of south Leamington Spa, known locally as Old Town. Recent investments to the local area include the 3,716m2 HQ’s of designer PROMOTER AND PARTNERSHIPS This is planned to be delivered both through direct investment from the furniture maker Vitsoe on relocation from London, the £17.2m 187 bed The CDP and Warwick District Council are working in partnership with local authority and its development partner on Council owned sites and Union student development at Althorpe St and the £17.4m purchase of The Warwickshire County Council and Coventry & Warwickshire Local further development by third party investors and developers as part of a THE FACTS Parade by property investor REI. coordinated initiative. Enterprise Partnership (CWLEP). Promoter: There are opportunities for new creative offices and mixed use schemes to DESCRIPTION Complex Development Projects LOCATION service buoyant demand from the creative sector, where demand currently and Warwick District Council Complex Development Projects Ltd (CDP) are in partnership with Warwick Royal Leamington Spa is a beautiful, historic and affluent spa town considerably outstrips supply. The town is known as ‘Silicon Spa’, due to its District Council to deliver an ambitious masterplan to regenerate the Old Scale: in the middle of Warwickshire in close proximity to Warwick and UK leading games developer cluster, including both blue-chip companies Town of Leamington Spa as a new Creative Quarter. It will regenerate and £50m+ GDV Stratford-upon-Avon, and located only one hour from London by and a large network of smaller creative businesses. breathe new life into the Old Town of Leamington Spa whilst enhancing the train, with direct rail links to major cities like Birmingham and Sector: economic development of the new town and joining up the two distinct areas. Regularly voted among the Best Places to Live in the UK, Leamington Spa is Mixed Use Leisure, Office and Residential Manchester. It is located in a high growth area of the West Midlands, only one hour from London and 20mins from Birmingham. It is also home to close to HQ centres for National Grid, Aston Martin Lagonda, Location: 6,000 students from the University of Warwick. Dennis Eagle, Jaguar Land Rover and games development. Royal Leamington Spa Town Centre Investment Type: Funding and Development Opportunities Programme: 2020–2028 Planning Status: Existing employment and residential, mixed use sites, detailed planning required Website: www.leamingtoncreativequarter.co.uk ONES TO WATCH 02

BACKGROUND The outline application includes plans for 1,000 homes, a new local centre to contain a mix of leisure, commercial, retail and health uses, a primary school, Former Ironbridge The power station ceased to generate power in 2015 and was sold by previous nature corridors, public open space and the re-use of the site’s pump house to owner, Uniper, to the Harworth Group plc following the completion of support either retail, community or river-based uses. This site’s 20 hectares of decommissioning works in June 2018. Power Station employment land has the potential to create 4,520 jobs. It is located on the southern bank of the River Severn approximately one The developers of the site will be bringing forward a high-quality The application is supported by a number of key documents which explain how kilometre from Ironbridge village. The boundaries of the eastern part of the the plan has been arrived at, including a detailed Design & Access Statement, a design-led development right in the heart of Shropshire, close Ironbridge site lie immediately adjoining, but excluded from, the Ironbridge Gorge full Transport Assessment and a series of environmental plans including flood to the birthplace of the industrial revolution. World Heritage Site which is a key visitor attraction. risk and ecological assessments. Since buying the site, Harworth Group plc has both masterplanned development The application follows eighteen months of detailed consideration, including OPPORTUNITY and began the 27- month demolition programme for the site, which included the two public consultations held on-site in 2018 and 2019 which attracted nearly demolition of its four iconic cooling towers in December 2019. The former Ironbridge Power Station site has been masterplanned for a 1,000 people in total, establishing a detailed understanding of the site’s assets new development incorporating a range of housing, employment and leisure and constraints and considering the site’s role in supporting lronbridge’s leisure uses and associated community facilities. DESCRIPTION & tourism offer. The application is expected to take between six to twelve months to consider and then determine. At the centre of the site will be the re-use of the site’s former rail connection, The former Ironbridge Power Station forms the largest single redevelopment which will not only improve the sustainability credentials of the new development site in Shropshire. Its 142 hectare located on the border of neighbouring but has the potential to significantly improve public transport connections for Telford at the heart of Shropshire is in a rural environment with good road and PROMOTER AND PARTNERSHIPS local residents and tourists in to this part of the West Midlands region. rail connectivity to the Black Country and wider West Midlands. THE FACTS The Former Ironbridge Station is being promoted by Shropshire Council, working in partnership with site owner and developer the Harworth Group plc. Harworth Group plc has submitted an outline planning application to both Promoter: Shropshire Council and Telford & Wrekin Council as they seek permission Harworth Group plc from Shropshire Council for the 142 hectare site’s long term redevelopment. They have also submitted LOCATION Scale: a separate application to extract up to 1.9million tonnes of sand and gravel £250m+ GDV to Shropshire Council. The Ironbridge Power Station site is located in the historic setting of Ironbridge on the Telford and wider Shropshire border in close proximity Sector: to the M54 Motorway and wider West Midlands region. Housing, employment, leisure and community uses Location: Ironbridge, Shropshire Investment Type: A range of future delivery and investment options Programme: 2020–2036 Planning Status: Outline planning application submitted in late 2019 Websites: www.ironbridgeregeneration.co.uk www.investinshropshire.co.uk/current-property- availability/current-developments/former-ironbridge- power-station ONES TO WATCH 03

BACKGROUND Moving Wolverhampton University’s School of Architecture and Built Environment onto the Campus in 2019/20 delivers the glue which will hold Springfield Campus The site of the former Springfield brewery is being transformed into Europe’s the public sector offer together, and thereby unlocking private sector largest specialist construction and built environment campus, bringing industry partners, professional bodies, and supply chain members help Phase Two of Springfield Campus provides a unique opportunity together businesses and the education sector to maximise the impact on create the vision for the Campus, by co-location or co-delivery of a demand for sector industry partners to co-locate on, what will become, the economy. The £100+ million development is acting as the catalyst for for education, research and innovation. Europe’s largest specialist construction and built environment campus. economic and social regeneration, tailored to creating jobs, facilitating innovation and delivering the technical and professional experts required Wolverhampton Phase Two is site ready for investment with services and infrastructure by this country. in place and a number of plots available. OPPORTUNITY Springfield Campus in the City of Wolverhampton is a strategic investment DESCRIPTION opportunity of a nationally significant development at the heart of the PROMOTER AND PARTNERSHIPS The new development will act as a smart specialisation hub in the region, West Midlands. The University of Wolverhampton as promoter of the development is working and over a 30-year project lifecycle bring an estimated GVA benefit to in partnership with the City of Wolverhampton Council, the Black Country the Black Country of over £300m. Phase One, which covers nearly half of the site, is nearing completion Local Enterprise Partnership and the West Midlands Combined Authority. and the promoter is looking to consider a range of delivery, investment The University has an established Springfield Board which oversees the The vision of the super campus is to create a hub where the education and partnership arrangements with a scale of investment options for the development, and reports into the University’s Board of Governors. elements in Phase One sit alongside sector leading innovation, research remaining 24,000m2 to complete Phase Two. and training generated from private sector occupiers in Phase Two. THE FACTS LOCATION Within Phase One the successful opening of the West Midlands Construction University Technical College in November 2016, closely The University of Wolverhampton and Springfield Campus is in close Promoter: followed by the Elite Centre for Manufacturing Skills hub demonstrates proximity to the proposed Canalside Living Quarter, and within five minutes University of Wolverhampton a considerable public sector commitment to the Campus. walk to the City Interchange and Wolverhampton Rail station providing Scale: direct access into the High Speed 2 (HS2) network. It forms part of the West £125m+ GDV Midlands Combined Authority’s new Walsall to Wolverhampton Inclusive Growth Corridor programme. Sector: Education/Construction/Training Location: Wolverhampton City Centre Investment Type: Investor, co-development, development funding Programme: 2020 onwards Planning Status: Phase Two: As part of the local area plan Website: www.wlv.ac.uk/Springfield ONES TO WATCH 04

BACKGROUND The Council is currently preparing a project to deliver 2 key masterplan interventions; Transforming the Rail Station and Connected Hubs. These Walsall Town Centre Since 2007 over £425m of investment has been delivered in the town centre interventions will improve connectivity between transport hubs, modernise resulting in the development of circa 85,000m² of floorspace (retail, leisure, and re-purpose existing retail space, create a vibrant public space in the A town centre mixed-use development with excellent office, health and education uses), as well as both a 100-bed and 60-bed hotel. heart of the town centre, and attract new leisure and residential uses. access to the heart of the UK’s motorway network. The Council has acquired the Saddlers Centre shopping centre, with its direct access to Walsall Railway Station. There are other development opportunities in the town centre, including commercial sites with a ring road frontage for approximately 73,000m2 of OPPORTUNITY Walsall Town Centre is located in close proximity to M6 Junction 10. The town Walsall office floorspace by 2026, and sites for residential development close to centre also benefits from frequent bus and rail services to nearby centres and The promoter Walsall Council is seeking a range of investment opportunities Walsall Railway Station which offer conveniently located town centre living. including development partners, forward funding and occupiers in new office, Birmingham New Street. In 2019 there were significant improvements to rail services on the into Walsall and the introduction of direct rail services retail, leisure, residential and mixed-use town centre developments. Proposals are being informed by the visionary Walsall Town Centre Masterplan from Walsall to Birmingham International and London Euston. There are plans which is underpinned by the Town Centre Area Action Plan (January 2019) to enhance links further through the introduction of passenger services to The prospect to work in partnership with the Council and other agencies is which provides the planning framework for the town centre and, together with Wolverhampton, which will also include opening two new stations on the line being developed to secure the delivery of a number of attractive investment the Masterplan, the basis for future planning and investment decisions. opportunities in support of the Council’s long term vision for the town centre. at and Willenhall. HS2 connectivity will also help to realise growth. This will build on the significant investment in the Waterfront scheme and world-class New Art Gallery. DESCRIPTION PROMOTER AND PARTNERSHIPS The town centre development programme is being led by Walsall Council The Walsall Town Centre Masterplan was published in July 2019 providing THE FACTS working closely with existing occupiers and private landowners, and fully a visionary and deliverable framework for physical change in Walsall town supported by key partners the Black Country Local Enterprise Partnership, centre over the next 15-20 years. Promoter: West Midlands Combined Authority and Homes England. It forms part of the Walsall Council West Midlands Combined Authority’s new Walsall to Wolverhampton Inclusive The Masterplan’s ‘catalytic interventions’ will tackle the current challenges, Growth Corridor programme. Scale: enhance Walsall’s significant opportunities and improve the environment £300m+ GDV within the town centre to create a strong identity and a Walsall experience which will attract private sector investment. Sector: LOCATION Mixed-use Retail, Leisure, Office and Residential Walsall town centre is ideally located within the West Midlands region, at the heart of the UK’s Motorway network. The central location of Walsall Railway Location: Station gives convenient links to Birmingham City Centre and further afield. Walsall Town Centre The increase in passenger services to and from the station will further enhance Investment Type: Walsall as a location to invest in and the interventions set out in the town centre Development partners, forward masterplan will support future investment. funding and occupiers Programme: 2020–2025 Planning Status: Walsall Town Centre Area Action Plan adopted January 2019 Website: https://go.walsall.gov.uk/regeneration_intro ONES TO WATCH 05

BACKGROUND Through land assembly with willing vendors, supported by the public sector significant development opportunity exists, Sandwell Council is working West Bromwich West Bromwich has undergone significant regeneration in the last 15 years to support the delivery of more than 1,600 new town centre homes in West that has seen the town fulfil its performance and status as one of four strategic Bromwich and a supporting leisure, retail and commercial offer, which will centres in the Black Country. The addition of the New Square development has Eastern Quarter bring new users and sustain the long-term viability of the town centre. The supplied a significant level of high quality retail and leisure, setting the pace aspiration is for more high-quality town centre living accommodation, that and scale for change in the town. The relocation and amalgamation of four A mixed-use Residential led opportunity to shape a long-term will not only retain the existing but continue to attract a skilled workforce, Sandwell College campuses has resulted in a large student population, and that will sustain and support the growth of traditional town centre uses, sustainable development in the Eastern Quarter of the town centre. Sandwell award winning new housing developments. The public realm and key transport supporting retail and business. Initial works to bring these opportunities nodes have also undergone a significant upgrade. to the market are currently underway, comprising land assembly, site OPPORTUNITY clearance and remediation. The promoters are open to all aspects of delivery and investment options DESCRIPTION As part of its investment strategy West Bromwich is also bidding for with the opportunity to shape parts of the future development of sites. The eastern side of the town centre represents an enormous opportunity the Town Fund and Future High Street Fund with a potential total public for regeneration, capitalising on its accessibility to Birmingham City Centre, investment leverage of £50m. The project covers a number of sites that form a development area cluster public transport nodes, the town’s retail centre and new homes. The scale of 22 hectares in West Bromwich, Sandwell’s strategic centre. This is an of this opportunity is the total transformation and long-term sustainable opportunity to be a major development partner in the regeneration of the development of the Eastern Quarter of the Town Centre. PROMOTER AND PARTNERSHIPS eastern part of the town centre delivering over 1,600 new homes, leisure, The West Bromwich ‘East’ project is being promoted by Sandwell Council and key ancillary commercial and retail floorspace. It offers a prime opportunity to redevelop in the inner town centre at a working in partnership with a range of private sector developers and the scale not often seen in such a central location. The opportunity sites cluster West Midlands Combined Authority. THE FACTS around key transportation links to Birmingham within 15 minutes via a frequent Metro service and the proximity of J1 of the M5 Motorway are Promoter: particularly attractive features of this location. LOCATION Sandwell Metropolitan Borough Council The location is a prime town centre contiguous cluster of development sites, Scale: much of which being within Sandwell Council’s ownership. There are excellent £100m+ c. GDV links to Birmingham via West Bromwich Central Metro Stop delivering Sector: passengers to/from Birmingham city centre in 15 minutes, with a service Mixed-use Residential led frequency of six minutes. Junction 1 of the M5 Motorway is 1.6 kilometres away and the main West Bromwich bus station is adjacent to the sites. These Location: excellent transport links, with proximity to the heart of the retail centre and West Bromwich, Sandwell employment opportunities, make this area a sustainable location for investment Investment Type: in new housing and business to meet the town and region’s growing needs. A range of delivery and investment options Programme: 2020–2027 Planning Status: The sites are consistent with local planning policy and the West Bromwich Area Action Plan Website: www.sandwell.gov.uk/WestBromwichEasternQuarter WEST MIDLANDS MARKET DATA 01

Acknowledgment: West Midlands Sourced by Knight Frank Housing Data

The housing market has slowed across much of the country KEY FACTS over the last few years, with political uncertainty contributing to a moderation in both price growth and activity but the West Midlands appears to be significantly more robust than other parts of the UK. London or the South East, for example, reported falls of 8-9% in sales volumes over the same period against 4% for the West Midlands. 16% HIGHER

Even with this level of growth, the average house price in the West Midlands Price growth has remained resilient. Since the June 2016 is around £201,000, notably lower than the UK average. This price differential referendum average values are 16% higher in the WM, underlines just one of the key drivers of the market – its relative affordability outperforming the national growth rate of 10% compared to other areas of the UK, especially those in the south of England. The average income to average house price ratio sits at 7.6 across England as a whole. In the West Midlands it is 6.8, significantly cheaper than the South East (10.2), or London (12.2), for example. This gives the West Midlands a significant advantage at attracting and retaining a skilled workforce, which in turn will help drive GVA IN THE WEST MIDLANDS long-term economic growth. Oxford Economics, with gross value added (GVA) in the

West Midlands, a measure of the value of goods and services Indeed, fairly robust economic expansion is forecast over the next decade, produced in an area, set to climb 14% by 2030. according to Oxford Economics, with gross value added (GVA) in the West Midlands, a measure of the value of goods and services produced in an area, set to climb 14% by 2030.

Given the uplift in both job creation, amenity, transport and population, the demand for both city living, and property in the towns and villages within the region, is expected to continue to grow. HOUSE PRICE RATIO

The average income to average house price ratio sits at 6.8 in the WM, significantly cheaper than London at12.2 WEST MIDLANDS MARKET DATA 02

Acknowledgment: West Midlands Sourced by JLL

Investment Market KEY FACTS

The West Midlands investment market experienced a stronger than expected 2019, bucking the wider UK trend with volumes up 7% at £2.3bn. £2.3bn INVESTMENT

This was driven by the Living Sector, which saw £1bn of investment across There was £2.3bn of investment in the West Midlands in the region, up 143% on the previous year. In addition, the Birmingham office 2019, up 7% on 2018 and the third highest year on record, investment market where volumes were £395m (in 14 transactions), an after 2014 (£2.9bn) and 2016 (£2.6bn). improvement of over £95m year on year.

However, despite industrial volumes being down 16%, prime yields remained TWO MAJOR CITIES constant at circa 4.5% through the year, although it should be noted that the definition of prime narrowed as investors become more forensic in their analysis The biggest sector was Living, which saw £1.0bn of of risk and stock selection. investment across the region, up 143% on the previous year and comfortably the highest ever volumes and share We have seen a buoyant start to 2020, with the reduced political uncertainty and of total investment. the passing of the EU exit deal. From an office perspective Birmingham’s relatively high prime yield in global terms of 4.75% will look very attractive indeed. We also anticipate that renewed investor confidence combined with strong occupational market dynamics will cause investors to return to the funding of speculative INTERNATIONAL development. INVESTMENT

With the government’s desire for a strong domestic policy, and an openness to International investors accounted for 58% of total increases in public spending, particularly focussed on infrastructure and the investment, the highest ever share. The America’s region regions, the West Midlands is exceptionally well placed to benefit. With significant was the biggest, accounting for 21% of total investment. announcements on infrastructure and public investment anticipated during 2020, this will strengthen the region’s investor profile and provide the opportunity for us to more widely diversify the global investor interest in our market. REGIONAL TRANSACTION

£190m - the biggest individual regional transaction in 2019 was M7’s purchase of The Mailbox from Brockton/ Milligan Retail. WEST MIDLANDS MARKET DATA 03

Acknowledgment: West Midlands Sourced by Savills Logistics Data

Occupier activity within the West Midlands has risen KEY FACTS following the initial decline in activity post Brexit referendum.

Take-up for units over 100,000 sq ft in 2019 reached 3.66m sq ft representing a 7.5% increase on 2018 which is an extremely positive indicator given the recent headwinds the region has faced. Consequently, the increase in take-up has reduced the amount of vacant warehouse space by 4% from 2018 to stand at 7.5% 7.2m sq ft through 40 separate units, based upon past take-up trends this equates INCREASE to just 1.51 years’ worth of supply left within the region. The current supply revolves around two major cities, Coventry has the largest amount of vacant Take-up for units over 100,000 sq ft in 2019 reached space totalling 1.18m sq ft closely followed by Birmingham with 0.83m sq ft. 3.66m sq ft representing a 7.5% increase on 2018.

Throughout the past ten years, occupiers demand in the West Midlands has originated from 3PL’s and the Automotive sector accounting for 10.84m sq ft and 9.93m sq ft of the total take-up respectively. According to forecasting house RealFor, the West Midlands is set to see continued rental growth at an average of 2.2% per annum which would push prime rents to c.£7.50 by 2023. TWO MAJOR CITIES

The current supply revolves around two major cities, Coventry has the largest amount of vacant space totalling 1.18m sq ft closely followed by Birmingham with 0.83m sq ft.

2.2% RENTAL GROWTH

The West Midlands is set to see continued rental growth at an average of 2.2% per annum which would push prime rents to c.£7.50 by 2023. WEST MIDLANDS MARKET DATA 04

Acknowledgment: West Midlands Sourced by Avison Young Retail Data

KEY FACTS

457,000 PEOPLE PRIME

Retail employs 457,500 people in the West Midlands Prime yields lowest in Birmingham (5.25%) and (Source: Experian) Stratford-upon-Avon (5.5%) (Source: PMA/Avison Young)

£31.8bn £3.2bn INVESTED IN RETAIL

West Midlands total pool of retail West Midlands retail has seen £3.2 billion invested expenditure = £31.8billion (Source: Experian) over the last 5 years (Source: PropertyData)

42 m² ft RETAIL SPACE SHOPPING CENTRES

42 million sq ft of retail space in the region’s 5 largest West Midlands Region is home to 2 of the UK’s largest city centres (Source: GOAD) shopping centres – The Bullring and Merry Hill, which together attract 57 million visitors per annum.