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Investors sought for massive Birmingham housing scheme

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Investors sought for massive Birmingham housing scheme

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Published by Max Salsbury for 24dash.com in Housing and also in Development, Finance, Local Government

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International investors were invited to stake their cash in a massive brownfield housing development project in Birmingham at the MIPIM property event in Cannes yesterday.

The Icknield Port Loop project will deliver 1,150 new homes over 22 hectares to the west of Birmingham city centre.

The site has outline planning permission for the homes, plus over 6,600 sq metres of new retail and commercial floor space, and a hotel and swimming pool.

The Icknield Port Loop site is at the heart of the wider Greater Icknield regeneration area, which covers 60 hectares.

The wider area will see over 3,000 new homes and a range of employment and community-based developments put in place over the coming years.

Birmingham City Council and the Canal & River Trust are seeking a delivery partner to take a 50% share.

Sir Albert Bore, council leader, said: “I am pleased to announce the next stage in the delivery of Icknield Port Loop, one of the key development opportunities in Birmingham.

“This is a substantial opportunity for a committed private sector partner to get involved in the early stages of a very exciting residential-led regeneration scheme that will provide a significant number of new homes and jobs for the people of Birmingham and act as a catalyst for further major regeneration proposals in the pipeline.”

Waheed Nazir, the council's director of planning and regeneration, added: “As the largest Brownfield residential-led development opportunity in the city, Icknield Port Loop is a key part of Birmingham’s ambitious growth agenda.

“Located on the edge of the city centre and benefiting from a substantial waterside setting, including the 58 acre Edgbaston Reservoir, the site has huge potential to create a new family-focused, sustainable neighbourhood incorporating high quality urban design and place making.

“I look forward to working with the successful private sector partner in turning this potential into reality.”

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