£400m investment into key West Midlands Investment Zone site

The Birmingham Knowledge Quarter - a £4billion innovation district that's one of the key sites in the flagship West Midlands Investment Zone - has taken an important step forward.

Woodbourne Group, one of the sites delivery partners, has started working with leading global real estate investment manager, Hines.

The partnership with Hines, announced by Chancellor of the Exchequer Rachel Reeves during this week's Regional Investment Summit, could see up to £400m investment into the project and would also represent a significant boost for a much-needed residential and innovation pipeline in the region.

The Knowledge Quarter is being hailed as the city’s answer to London’s King’s Cross and a catalyst for economic transformation integrating research, business and community at an unprecedented scale.

Richard Parker, Mayor of West Midlands, said: “We’re creating something really special at the Knowledge Quarter, where some of the streets are named after our region’s great industrial pioneers.

“Innovation districts around the world thrive when high quality homes are built alongside cutting-edge research institutions. Having a global player like Hines on board, to work with our partners at Woodbourne Group, will be the catalyst we need to turn this area of Birmingham into the place to be for a new generation of innovators and pioneers.

“This is my Growth Plan in action - attracting major investment into fast-growing, tech-led industries that will get our regional economy firing on all cylinders.”

Backed by the UK Government as part of the West Midlands Investment Zone, the Knowledge Quarter covers 210 hectares and, subject to planning approval, will deliver 580,000sm of state-of-the-art commercial space focused on life sciences, artificial intelligence, digital health and advanced manufacturing.

The proposed masterplan is expected to unlock £4billion of private sector investment, create more than 22,000 high-value jobs and provide 4,800 new homes.

It is anchored around Curzon Wharf and located next to HS2’s Curzon Street Station and will position Birmingham as the UK’s most connected innovation hub, with a direct 49-minute link to London.

The Knowledge Quarter will also feature significant public realm enhancements, including a new pedestrian bridge across the canal network connecting Curzon Wharf to Aston University.

Woodbourne Group is a key player in a collaborative partnership alongside Aston University, Birmingham City University, Bruntwood SciTech and Birmingham City Council that’s driving the momentum in delivering a globally significant innovation district.

Hines is a global real estate investment manager with a long track record of creating high quality and sustainable mixed-use developments in major cities around the world. This includes Birmingham, where the firm has a proud legacy in developing and managing two of the city’s most successful and significant schemes in Brindleyplace and Two Snowhill.

Tani Dulay, CEO of Woodbourne Group, said: “This is the culmination of over 12 months of hard work and belief from Birmingham City Council, the West Midlands Combined Authority and the West Midlands Growth Company in our vision. The Birmingham Knowledge Quarter will set a new global benchmark for innovation-led investment, and we’re proud to have Hines join us as we deliver the city’s next great chapter.”

Ross Blair, country head UK and Ireland, of Hines, said: “We’re delighted to be working with Woodbourne Group on the Birmingham Knowledge Quarter. This project aligns with our strategy of backing transformative, innovation-led destinations with strong connectivity and long-term growth potential. The vision for the Knowledge Quarter, together with the proximity to HS2, gives us real confidence in Birmingham’s future as a world-class hub for investment and a desirable location for high quality residential.”

John Cotton, leader of Birmingham City Council, said: "Birmingham has always been a city of innovation and, with an emphasis on sectors like advanced manufacturing, digital technologies and life sciences, B-KQ continues our proud history of being at the cutting edge of technology.

"This is one of the most investable cities in the country, a city of unmatched potential and opportunity, and thanks to partnerships like this we are creating jobs, opportunities and prosperity for a young and growing population."

Charlie Nunn, group chief executive, Lloyds Banking Group, said: “It’s brilliant to see the next phase of the Birmingham Knowledge Quarter brought to life, as a longstanding partner to Woodbourne Group. There is immense ambition and cross-sector collaboration to generate jobs and growth across the West Midlands, as projects like these exemplify. Lloyds is proud to support Woodbourne Group and other innovative, high-growth businesses in this important city and region.”