Birmingham’s £10bn regeneration: Why global investors are targeting the Birmingham property market

For global investors, Birmingham is rapidly emerging alongside London as one of the UK’s most compelling investment destinations thanks to the new Mayoral Development Corporation. 

Recently, Richard Parker, Mayor of the West Midlands, launched the UK’s largest Mayoral Development Corporation, which could eventually deliver more than £10bn of building projects in the region.

With HS2 and the relocation of major international corporations to the city centre, such as HSBC and PwC, the city is projected to grow in population, with even more homes needed to fill the gap. These are just some of the reasons why Birmingham is emerging as a major investment hub outside of London.

But what exactly is a Mayoral Development Corporation, and how could this benefit investors in the long run? 

The East Birmingham Mayoral Development Corporation

The Birmingham East Mayoral Development Corporation (BEMDC) is a new government-backed regeneration body created to accelerate more than £10bn worth of development projects across East Birmingham and the city centre fringe. 

Mayoral Development Corporations are designed to streamline project planning, infrastructure development and land assembly to high-growth and strategically important areas. 

The BEMDC has been established to coordinate the delivery of large-scale development projects across the city. The new corporation will oversee a vast regeneration zone (the size of more than 600 football pitches), covering key growth districts and regeneration projects, including:

• HS2 Curzon Street Station
• Birmingham Knowledge Quarter
• Digbeth’s new Creative District
• £2bn Smithfield regeneration
• Central Heart
• The proposed Sports Quarter and stadium development

The project is significant as it provides investors, particularly those overseas, access to a market supported by long-term investment and evolving economic opportunities. Government backing of the scheme also reduces the chance of friction during planning and approval procedures. Once completed, these projects are expected to deliver:

• More than 20,000 new homes
• Over 50,000 jobs
• Billions in private and public sector investment into Birmingham’s economy

Similar projects have been successful elsewhere in the UK, such as the London Olympic Park regeneration project. 

Contact us to speak to a property consultant about your next investment in Birmingham, or download our Birmingham investment guide here.