Key Urban Regeneration Projects:
- High Speed 2
- Birmingham Smithfield
- Birmingham Big City Plan
The UK’s second city, Birmingham, has soared over the last decade thanks to major economic regeneration.
As one of the UK’s biggest employers, urban regeneration in Birmingham is some of the most extensive ever seen in the country, with billions of pounds worth of regeneration projects ongoing.
Due to these inner-city regeneration initiatives, Birmingham has one of the youngest populations in Europe, with over 40% of the city aged under 25 – a testament to the job opportunities offered.
Birmingham is also a significant student city, with over 100k students living in the West Midlands city and a graduate retention rate of 46% – one of the highest in the UK.
The main urban regeneration projects in this UK city include:
- Big City Plan – A massive regeneration initiative aiming to create 50,000 new jobs with an estimated £2.1 billion for the local economy.
- Birmingham Curzon Street – A brand-new HS2 hub in the heart of Birmingham which is estimated to create 30,000 new jobs. The transport link will also reduce travel time from Birmingham to London to only 45 minutes.
- Birmingham Smithfield – A £1.5bn development of a 14-hectare site creating a whopping 1,000 new homes and 3,000 jobs.
- Midlands Metro Expansion – A major overhaul of Birmingham’s transport system in and out of the city.
- Paradise – A £700m project set to add 1.8 million sq.ft. of office, leisure, and retail space in the heart of Birmingham city centre.
- Arena Central – Another major initiative located near Paradise that will be the home to HSBC’s main headquarters.
HS2 is, in particular, one of the best regeneration projects in the UK due to the potential for further investment as a consequence of the massive project.
Thanks to HS2, Birmingham City Council predicts the development potential in areas such as Eastside and Digbeth will lead to the creation of 36,000 jobs, 4,000 new residential properties, 600,000 sqm of employment space, and £1.4bn in economic uplift.
Urban regeneration in UK cities is essential, and Birmingham has been transformed with a substantial cash investment.
To learn more about the UK’s second city and why you should invest, be sure to check out our fantastic in-depth Birmingham property investment guide.