Birmingham City Council is seeking a developer to create a major mixed-use scheme on the 42-acre Birmingham Smithfield site.
The masterplan for the site outlines proposals for a ‘family and leisure hub’ comprising retail, restaurants, hotels, residential and a public square.
Smithfield is located on the site of the city’s former wholesale markets, and adjoins the Bullring shopping centre, New Street station and the new HS2 rail terminus.
The development of the site is expected to deliver over 3.2m sq ft of new floor space, 2,000 new homes and 3,000 new jobs, and have a total investment value of more than £1bn.
Birmingham City Council has appointed Cushman & Wakefield to handle the search.
John Clancy, the leader of the council, said: “We are excited to launch the search for a world class developer/investor who has a shared vision and can bring the necessary expertise and resources to partner with the council in delivering the transformational re-development of the Birmingham Smithfield area.
He continued: “Birmingham Smithfield will be one of the largest and most attractive city centre development sites in Europe and is a once in a generation opportunity for the council to partner with a private developer/investor to redevelop a major city centre site covering 42 acres where the council is a major land owner. Creating 3,000 new jobs, it sets the standard for inclusive economic growth and sustainable development and is a major part of the unprecedented change happening in Birmingham as billions of pounds of investment transforms the city’s economy.”
David Tonks, head of the Birmingham office of Cushman & Wakefield, said he anticipated interest from “a wide range of developers.”
The procurement process has now formally started and development and investment partners have been invited to submit a request to participate by 12 September. The council is aiming to select the preferred bidder by March 2018.
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