£1.9bn Smithfield Regeneration Attracts Investors to Birmingham

What will the project involve?

As a whole, the vision is to create a sustainable, innovative, and inclusive space that puts the people at the heart of the development. This includes new vibrant retail markets, leisure facilities, cultural buildings, homes, and improved transport facilities. What is so remarkable about the masterplan, is the international exemplar of sustainable development that Birmingham is creating. Recognised by the World Business Council for Sustainable Development (WBCSD), Birmingham is at the forefront of the agenda.

• Smithfield will be the new home of the city’s infamous Bullring Markets. As a result, it will become a globally recognised market district. This will attract new and existing customers and will make Birmingham a key shopping location in the UK.
• The festival square will create a new major public space for the city, as an area for people to meet and relax. It will create a lively hub for cultural events and activities.
• With the integration of the Metro, new bus routes, and improved accessibility for pedestrians and cyclists, connectivity will be enhanced. A wide pedestrian boulevard will allow people to enter the city on foot and easily reach it from other parts of the city.
• The project will create over 3,000 new homes. These will be high-quality, sustainable living spaces and will include community facilities, a new public park, and a child’s play area. As a result, it will become one of the most desirable places to live in the city centre.
• A major new public square consisting of artwork and open spaces will strengthen the city’s distinctive character.

Leisure & Connectivity

Connectivity

This project will deliver radical improvements to the city, enhancing walking, cycling, and transport routes. The new streets and spaces will give priority access to pedestrians and cyclists, which will reconnect the centre, Digbeth, and the wider Southern Gateway.  In order to create a safe, active, and sustainable way to travel around the city, cycle routes and parking will be integrated.

In addition, public transport is being radically improved. By adding new bus routes, residents will have better access to the markets and leisure attractions. Also, a new route is being created for the Midland Metro which will provide quick connections to train stations, including the HS2 terminus.

Leisure

The Smithfield regeneration plan will revamp Birmingham into a major cultural and leisure hub. Vibrant markets will bring distinctive character to the city. Also, the new Market Street will provide a revitalised shopping experience. Throughout the day, it will be a shopping haven. At night, it will turn into a hive of activity. This is also extremely attractive for any small independent business looking for space to advance. The new contemporary and innovative design will help capture the market personality and make it an enjoyable shopping experience.

Birmingham is already a city of culture and the regeneration project will only enhance this, attracting an influx of property investors. Improved leisure amenities will increase the quality of life for its residents. Therefore, we can expect to see demand soar and rental prices rise.

A Hub of Sustainability

New, modern, and sustainable homes will make the neighbourhood an extremely attractive place to live. Creating over 3,000 new homes, the apartments will be at the forefront of sustainable design with integrated space for bikes, waste, and recycling. Catering to the whole community, there will also be shared open and green spaces, as well as a health centre and primary school – all contributing to the creation of an ideal residential area.

Sustainable building design is a key aspect, as the homes will minimise energy and water consumption. Initially, the homes are built using sustainable building materials, which will reduce waste. When up and running, Sustainable Drainage Systems are fitted which will minimise flood risk, improve water quality, and enhance biodiversity.

In addition, the buildings will generate zero-carbon heat and employ smart technology to balance energy generation. Not only will this save energy but reduce costs too – which is extremely attractive to potential tenants. There is also the added bonus that a newer property requires less maintenance in the long term. Combined, these properties provide tenants with significantly better value for money. As a result, they are much easier for landlords to let out. Therefore, providing the perfect opportunity for property investors. Sustainable living has become an increasingly attractive option for investors, as eco-friendly property is expected to rise in value over time.