subject: Big City Plan 'to create over 1.5 million sq ft of commercial property space' [print this page] Those looking to invest in new commercial property may be interested to hear about proposals for Birmingham's Big City Plan.
The scheme will create more than 1.5 million sq metres of office, leisure, cultural and retail floorspace, it has emerged.
Expected to take the next two decades to complete, the property development scheme will bring some 50,000 jobs to the area while it is being carried out, Birmingham City Council leader Mike Whitby revealed.
Further details about the project have been unveiled in the stage two section of the Big City Plan.
Mr Whitby said: "We are making a bold statement, prioritising the areas and projects which can and will be transformed despite the financial challenges the UK faces."
Business property owners familiar with the city may be interested to look at proposals for each quarter, with work planned for areas such as Westside, Southside, the Jewellery Quarter and Ladywood, among other districts.
As well as the creation of commercial property space, more than 5,000 new homes will be built and 28,000 metres of enhanced walking and cycling routes are planned.
Gary Cardin, head of Drivers Jonas Deloitte's Birmingham office, stated the latest announcement has brought focus to key development sites, "bringing it right down to a clearer, grassroots level".
And the Big City Plan has managed to bring together transport and development - factors that are commonly treated separately rather than being considered as a part of the end result, he added.
Glenn Howells of Glenn Howells Architects agreed and claimed: "This is the first time I've seen clear suggestions creating a fantastic, workable city."
According to the Big City Plan website, the development project is the most ambitious and far-reaching of its kind to have ever been undertaken in the UK.
And the completion of the scheme should assist with Birmingham's regeneration and make it one of the world's top 20 most-liveable cities.
Big City Plan 'to create over 1.5 million sq ft of commercial property space'
By: Charlotte Rivington
welcome to Insurances.net (https://www.insurances.net)
