THE potential offered for investors by the Solihull Town Centre Masterplan has been highlighted at the first Midlands UK Forum for Growth.
The three-day fully virtual event showcased over £17.5billion worth of investment opportunities across housing, connectivity, regeneration, technology and green energy in the region.
Representing Solihull, Councillor Ian Courts, Leader of the Council and portfolio holder for the economy, delivered a well-received presentation alongside Jonathan Bretherton, managing director of the Urban Growth Company.
Among the opportunities covered were plans for the Council-owned Eastgate and Westgate sites on Homer Road as well as some of the wider potential outlined in the Masterplan.
This envisages 1,178 new homes with the potential for up to 50,000sqm. of office floor space and 40,000sqm. of retail, leisure and ‘active’ ground floor space in the town centre.
Assessments show the proposals could lead to £395million in gross capital expenditure and up to £150m of gross value added (GVA) in the construction phase, while providing more than 4,000 new jobs and produce £200m in GVA.
“Even in these difficult times the potential for growth in Solihull and across the Midlands is immense, particularly with infrastructure projects materialising such as HS2,” said Coun Courts.
“In Solihull, there are a range of exciting opportunities which are attracting investors from far and wide, including the revitalisation of the town centre with the emerging Eastgate and Westgate schemes and the development of the ‘Hub’ area, Europe’s best-connected destination for business, leisure and living.
“The government’s spending review laid bare the extent of the economic challenges facing all sectors of the economy.
“We know that Solihull has a huge role to play in the region’s economic fight back.
“Solihull remains one of the UK’s most attractive inward investment locations and key factors such as our economic dynamism, well-balanced sector profile, and highly-qualified workforce mean we are well placed to lead in this recovery.”