Monday 18 October 2021
Now is the best time for buy to let property investment in Birmingham. The numerous regeneration schemes in Birmingham will boost the region’s economy significantly, encourage more major employers to relocate to the city, bringing with them a range of employment opportunities, drawing young professionals and graduates to the city. Consequently, increasing tenant demand and driving rental prices. Additionally, Birmingham will offer incredible capital growth opportunities because of these new regeneration projects.
Birmingham is undergoing a moment of extraordinary change, with billions of pounds in investment transforming the city's economy. This will accelerate dramatically over the next decade as new jobs, transportation infrastructure, and residential developments are built. Birmingham will be able to realise its full potential as a truly international metropolis at the heart of a thriving region and a driving force of the UK because of this.
Learn more about the regeneration projects below:
University of Birmingham
The new Life Sciences Campus – which will become an integral part of the University of Birmingham – will only entice more students to the city. From the £210 million investment, this health innovation campus is set to provide over 657,000 sqft of lab, office, and incubation space.
As well as accelerating the evolution of new medical treatments, this development is expected to generate an estimated 10,000 new jobs and deliver £400 million to the local economy. With a completion date of 2023 for phase one, this new project will simultaneously attract more students to the city, further medical research and encourage inward investment.
There are five universities in and around Birmingham, home to over 100,000 students. 41% of which stay in Birmingham after graduation for the excellent employment opportunities that the city has to offer. As a result, both students and graduates are a key tenant demographic in the city.
Not only does Birmingham demonstrate exceptional graduate retention figures, but the city also ranked third in the UK in 2020 for attracting graduate talent, of whom have no prior links to Birmingham. With the city’s business centre continuously expanding and presenting new opportunities, these graduates are now becoming a new generation of professionals.
HS2 – Curzon Street Station
HS2 phase one, arguably Birmingham's most eagerly anticipated development, is now eight years away from completion. The West Midlands is claimed to be at the centre of the UK's high-speed rail network, connecting important northern and southern cities.
The Curzon Street Station Investment Plan, worth roughly £1 billion, also involves the regeneration of adjacent districts over a 30-year period. With HS2 already stimulating the economy, an estimated 34,000 new homes and 36,000 new jobs will be generated. PwC, HSBC, and Deutsche Bank are among the companies that have migrated to the second city, bolstering Birmingham's business centre.
With HS2, the trip from London to Birmingham will be reduced to 49 minutes, allowing residents of both cities to take advantage of greater opportunities. Birmingham's growing business district, paired with the city's proximity to the capital, will entice job seekers to consider the city. Similarly, the shorter travel will make Birmingham more commutable for those who wish to work in the capital, which will likely drive up housing demand.
Birmingham Airport Redevelopment
Birmingham Airport was set to begin a significant reconstruction project in 2021, eventually becoming the "Midlands gateway to the world," in addition to introducing a direct link to HS2. The £500 million investment will not only improve access to and from the airport, but it will also improve global connectivity by expanding the number of destinations available and increasing the number of flights available. COVID-19 has put the airport expansion on hold until 2022, but it is expected to continue later.
As one of the largest and most attractive city centre development sites in the country, Birmingham Smithfield will be a key part of this evolving growth story. The site has all the ingredients to become a hugely successful and vibrant place. It will be able to capitalise on the rich history of the area; proximity to the major retail offer, the creative quarter and knowledge hub and the future city centre terminus for High Speed 2.
The future vision for Birmingham Smithfield includes new vibrant retail markets, exciting family leisure, cultural buildings, homes, public squares, and transport facilities. Delivering 300,000 sqm of new floorspace, 2,000 new homes and an investment value of over £500 million. But what will be truly transformational is the creation of a legacy for the city; a place for people that stands the test of time as an international exemplar of sustainable development.
As part of the World Business Council for Sustainable Development (WBCSD) Zero Emissions Cities programme Birmingham Smithfield is already at the forefront of this agenda. This masterplan is a statement of intent for the future. The city council is committed to delivering the transformational potential and realising the vision. This masterplan sets out the vision and principles that will form the basis of the delivery of this unique opportunity for the city.