MIPIM 2016: The Midlands contingent will unveil 33 investment opportunities, valued at a combined total of £14.4bn, in its new Midlands engine pitch book initiative at MIPIM in Cannes this week.
The region is seeking the investment from global investors as part of its plan to turn itself into one of the world’s leading regional economies. The plan, including the creation of 58m sq ft of new property space and 32,000 new homes, will be used to showcase investment opportunities to key markets such as China and the US.
The Midlands is the largest economic area outside London, and attracted 880 foreign direct investment projects between 2011 and 2015, more than any other region. It already generates £222bn to the British economy, which has increased 30% in the past decade.
The investment opportunities outlined have been sourced by the UKTI Regeneration Investment Organisation, which has a remit to support job creation and economic growth across the UK.
Business secretary Sajid Javid, ministerial champion for the region, said: “The Midlands is a region on the rise with a unique offer to investors.”
Andy Street, chair of the Greater Birmingham and Solihull LEP, added: “Launching the Midlands engine pitch book demonstrates how the region has developed a co-ordinated approach to targeting new investment; by working together, we have a stronger voice and more compelling story to tell the world.
“By showcasing our strongest investment opportunities – from HS2 to major residential schemes and Enterprise Zone sites – to key markets such as China, Europe and the USA, I have no doubt that the Pitchbook will help to stimulate even more international interest in the Midlands.”
Key investment opportunities include:
• A mixed-use development site in Leicester, which will be one of the biggest greenfield sites to be developed in the UK (Scale: £400m).
• The unique opportunity to invest in the UK’s most ambitious infrastructure project, HS2.
• More than 4,000 new homes will be built around the city centre’s brand new HS2 station – Curzon Street (Scale: £1.5bn+).
• The regeneration around the HS2 Interchange and Hub in Solihull alone will create over 20,000 new jobs (Scale: £1bn+).
• Jaguar Land Rover will expand its existing facilities, and create a designated technology campus in Coventry (Scale: £500m).
• A range of investment opportunities adjacent to the Rolls-Royce global civil aerospace HQ are on offer within Infinity Park, part of the Derby and Nottingham Enterprise Zone, where businesses receive a package of benefits (Scale: £700m+).
• Plans for 6,000 houses and a new motorway junction have been approved in Lincolnshire Lakes to complement the government’s initiative to create the UK’s largest deep water project (Scale: £900m).
• To capitalise on the region’s expertise, the Ceramic Valley Enterprise Zone will see the development of six individual sites (Scale: £1.5bn).