Plans to build the much-heralded HS2 High Speed Rail Link between London and Birmingham and beyond have taken another big step forward this week with the government confirming the building contractors who will complete the scheme’s first phase.
Transport Secretary Chris Grayling has announced that UK construction firms Carillion, Costain and Balfour Beatty are all among the companies that will build the essential infrastructure on the first stretch of the new high speed rail line.
Speaking at the announcement, he said; “As well as providing desperately needed new seats and better connecting our major cities, HS2 will help rebalance our economy.” The minister also confirmed that as things stand, plans are “on time and on budget”.
Given the huge connectivity and economic benefits the scheme is set to bring, the news will give further confidence to investors looking at buying opportunities in the second city.
The renaissance of Birmingham continues apace with latest figures from the ONS showing Greater Birmingham & Solihull is the UK’s top core city local enterprise partnership area for economic growth. Unsurprisingly, we continue to see interest in real estate across the city grow as investors becoming increasingly impressed with Birmingham’s success story and its impressive plans for future growth.
Parliament granted powers to build the first phase of HS2 between London and Birmingham in February this year.
Preparatory work on the project has already begun with major construction work due to start in 2018-19 and the line due to open in December 2026.
Further phases of the project to Crewe and beyond are then due to be operational from 2027.
Upon completion, the full project will connect Birmingham, Manchester, Liverpool, Leeds, Sheffield and the East Midlands in a Y-shaped network, with all of them ultimately linked to London.