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2023 Investment Prospectus

Greater Icknield and Smethwick

Greater Icknield and Smethwick is a significant residential led mixed use development at the heart of the West Midlands region.

OPPORTUNITY

The promoters are open to all aspects of delivery and investment options with the opportunity to shape parts of the future development of sites.

The project covers a development area of 264 hectares, able to accommodate approximately 4,000 new homes and associated infrastructure. It offers one of the largest opportunities for brownfield regeneration in the UK and is ideally located between the centres of Birmingham and West Bromwich.

Promoter: Sandwell Metropolitan Borough Council and Birmingham City Council

Scale: £850m GDV

Sector: Mixed-use Residential

Location: Smethwick, Sandwell and Birmingham

Investment Type: A range of delivery and investment options

Programme: 2022 - 2030

Planning Status: The sites are allocated in the adopted Local Plans

Website: www.birmingham.gov.uk/planning

www.sandwell.gov.uk/regeneratingsandwell

https://www.wmca.org.uk/media/1695/icknieldprospectus-

BACKGROUND

The areas of Greater Icknield and Smethwick are prime development areas. The location is in proximity to extensive retail and leisure facilities in Birmingham City Centre and affords direct access onto the region’s highway network, with easy access to the national motorway and rail networks, including the planned High Speed Rail (HS2) station at Birmingham Curzon.

DESCRIPTION

Greater Icknield and Smethwick are identified as strategic development areas to accommodate large areas of growth. In Sandwell, housing delivery will be concentrated on the Grove Lane area of Smethwick, located close to the boundary with Birmingham. The area will deliver more than 800 new homes over a phased period, with associated infrastructure to support the new community, helping to relieve the high demand for housing land in this sought-after area. It will also assist in regenerating extensive areas of land surrounding the new Midland Metropolitan University Hospital which is already attracting substantial investment. The first phase has already completed with 143 new modular style homes at Cranford Grange. Further phases will come forward for development in the coming years. The Grove Lane area received Housing Zone status from Central Government and granted £224,000 of capacity funding in March 2017 to assist in bringing the development forward.

The majority of land is privately owned with recent significant developer interest signifying the attractiveness and potential for investment in this area. The area is also included within the Smethwick Town Fund Investment Plan which was awarded £23.5million in May 2022. This will secure funding to acquire and remediate land to progress to the next phase of regeneration.

In the adjacent area falling within Birmingham City Council boundary, public sector partners have been active with land assembly to bring forward 3,000 homes. This includes the acquisition of the majority of the Birmingham City Hospital site by Homes England. Homes England have submitted an outline application for up to 750 homes, and the site is being marketed to investor developers.

The first phase of new homes and open space at Port Loop has now been completed; subsequent phases have outline consent. The 750-home development at Soho Loop is nearing completion. Major infrastructure improvements along Dudley Road are now funded following a recent successful Levelling Up Fund bid and will provide an improved connection to the City Centre. A new secondary school is also planned for the area.

WMCA has also made acquisitions in the area and provided support by investment into developments such as Port Loop.

PROMOTER AND PARTNERSHIPS

The project is being promoted by Sandwell Metropolitan Borough Council and Birmingham City Council, working in partnership with a range of private sector developers, West Midlands Combined Authority, and Homes England given the area’s status as a Housing Zone.

LOCATION

Greater Icknield and Smethwick borders Birmingham City Centre and is the gateway to Sandwell, part of the Black Country. A range of transport modes are available including bus, rail and Metro, and easy access to the Motorway network and proximity to major retail and employment opportunities makes this area an attractive and sustainable location for investment.