West Midlands pitches for £10bn investment at Mipim

Andy Street, the mayor of the West Midlands, has today launched a bid to secure £10bn-worth of investment to fund a series of ambitious developments across the region, including a £2bn scheme featuring thousands of homes around the second HS2 station on Curzon Street in the middle of Birmingham (pictured).

As well as the UK Central Hub and HS2 Interchange project the 24 schemes unveiled at Mipim in Cannes include an £850m residential-led mixed-use scheme at Greater Icknield and Smethwick, an £800m business and innovation enterprise zone in Dudley featuring residential, industrial and office developments, and “Paradise Birmingham”, a £700m mixed-use development in the city.

Walsall town centre stood to benefit from a £300m mixed-use scheme featuring new residential and leisure facilities, while Coventry and Wolverhampton were in line for a total of £1.3bn of investment in similar projects.

Street said the West Midlands had a once-in-a-generation opportunity to “drive inclusive growth across the region that benefits all our commiunities”.

He said it had the second-highest ambition for housebuilding in the UK, aiming for 16,500 completions by 2031, adding that 14,500 new homes were built last year, up a fifth on 2017 and nearly double the figure built six years previously.

“This £10bn investment prospectus demonstrates the strength of our offer and the boldness of our vision,” Street said. “We are the most promising place to invest in the UK and, like all good businesses, we have a plan and are delivering it.”

Street was leading a delegation to Mipim from the West Midlands Combined Authority, which comprises 18 local authorities and four local enterprise partnerships.