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2023 Investment Prospectus

West Bromwich Town Centre

A collection of Town Centre mixed-use regeneration opportunities shaping a new vision for West Bromwich across 22 hectares. The West Bromwich Masterplan underpins the future growth of a new set of values for the town, uplifting the brand and providing an integrated comprehensive town centre.

OPPORTUNITY

The promoters, Sandwell Council are open to all aspects of delivery and investment options with the opportunity to shape the future development of sites across the Town Centre and delivery of the West Bromwich Masterplan Vision. The regeneration opportunities cover a number of sites that form a development area cluster within over 22 hectares in West Bromwich, Sandwell’s strategic centre.

This is an opportunity to be a major development partner in the regeneration of the eastern part of the town centre delivering over 1,400 new homes, leisure, and key ancillary commercial and retail floorspace.

Promoter: Sandwell Metropolitan Borough Council

Scale: £507m+ c. GDV

Sector: Mixed-use Residential led

Location: West Bromwich, Sandwell

Investment Type: A range of delivery and investment options

Programme: 2023-2027+

Planning Status: The sites are consistent with local planning policy and the West Bromwich Area Action Plan. An Interim Planning Statement (IPS) and the associated Masterplan provides a framework to guide the further regeneration of West Bromwich, the borough’s Strategic Centre

Website: https://regeneratingsandwell.co.uk/

BACKGROUND

West Bromwich has undergone significant regeneration in the last 15 years fulfilling its status as one of four strategic centres in the Black Country. The addition of the New Square development has supplied a significant level of high quality retail and leisure, setting the pace and scale for change in the town. The relocation and amalgamation of four Sandwell College campuses has resulted in a large student population, and award winning new housing developments. West Bromwich sits in the centre of the Black Country and is strategically located to capture the major economic growth drivers for these areas. Job growth is strong in education and health, and further opportunities in emerging sectors including leisure, arts, creative, digital, tech, and professional service sectors are developing.

DESCRIPTION

The West Bromwich Town Centre Masterplan was approved by Cabinet in February 2022 providing a visionary and deliverable framework for physical change in West Bromwich town centre over the next 15-20 years.

The Masterplan vision for West Bromwich Town Centre is the creation of a metro gateway, new town square and a cluster of mixed use developments within the Town Centre Core to address the change and decline of the retail sector. Complementing this will be the creation of green links, squares, parks and sustainable travel networks. The successful £25m Town Deal funding will facilitate this transformation. This vision will strengthen the connections across West Bromwich’s assets and infrastructure base through strategic private sector investment.

The regeneration opportunities represent an enormous opportunity for regeneration, capitalising on its accessibility to Birmingham City Centre, public transport nodes, the town’s retail centre and new homes.

It offers a prime opportunity to redevelop in the inner town centre at a scale not often seen in such a central location. The opportunity sites cluster around key transportation links to Birmingham within 15 minutes via a frequent Metro service and the proximity of J1 of the M5 Motorway are particularly attractive features of this location. Sites include Cultural Quarter, George Street and Queens Square Living, The Lyng, Urban Pocket Park and West Bromwich Central.

Through land assembly across these distinctive zones working with willing vendors and supported by the public sector significant development opportunity exists. Sandwell Council is working to support the delivery of more than 1400 new town centre homes in West Bromwich and a complimentary leisure, retail and commercial offer, which will bring new users and sustain the long-term viability of the town centre.

The aspiration is for more high-quality town centre living accommodation, that will not only retain but continue to attract a skilled workforce, that will sustain and support the growth of traditional town centre uses, supporting retail and business. Initial works to bring these opportunities to the market are currently underway, comprising land assembly, site clearance and remediation.

PROMOTER AND PARTNERSHIPS

The West Bromwich Town Centre Vision projects are being promoted by Sandwell Council working in partnership with a range of private sector developers and West Midlands Combined Authority.

LOCATION

The location is a prime town centre contiguous cluster of development sites, much of which being within Sandwell Council’s ownership. There are excellent links to Birmingham/Wolverhampton via West Bromwich Central Metro Stop to/from Birmingham/Wolverhampton city centre in 15 minutes, with a service frequency of six minutes. Junction 1 of the M5 Motorway is

1.6 kilometres away and the main West Bromwich bus station is adjacent to the sites. Sandwell & Dudley train station is 1.5 kilometre to the south, and it offers frequent and direct West Coast Mainline services to Birmingham, the NEC, London, Manchester and Scotland. These excellent transport links, with proximity to the heart of the retail centre and employment opportunities, make this area a sustainable location for investment in new housing and business.