New Developments in Digbeth to Watch in 2019
Digbeth and the Eastside of Birmingham have long been recognised as the most contemporary area within the second city – highly industrious, creative and filled with potential. It was only a matter of time before Birmingham’s ‘Golden Age of Development’ hit the district, introducing exciting new public plazas alongside state-of-the-art residential, commercial and leisure spaces designed for the modern resident.
As part of the Big City Plan, Birmingham’s Eastside and Southside are experiencing unprecedented regeneration, transforming the landscape and introducing new infrastructure projects such as HS2 and the Midlands Metro extension. This has resulted in a number of new projects in Digbeth for 2019 and the future, putting Digbeth at the heart of Birmingham’s travel links and bringing a new wave of residents ready to live and work in smart, contemporary developments within the area.
Digbeth Developments to Watch in 2019
GDV – £1.5 billion
Completion Date – 2036
Birmingham Smithfield is the pinnacle of Birmingham’s ongoing regeneration project, a £1.5 billion plan that will transform the current site into a true destination for Birmingham. This major re-development for Birmingham’s Eastside will deliver an exciting location to live, work and play – a hotspot of tenant demand that will create 3,000 new jobs, 300,000 sq.ft of floor space for vibrant retail, leisure and commercial occupiers as well as 2,000 new homes.
The Smithfield site has a unique heritage as the ‘birthplace’ of the city and has continually evolved with the times. As the core of Birmingham, the Smithfield area is primed for transformation and as part of the wider ‘Big City Plan’, is a direct example of Birmingham’s economic renaissance.
GDV – £1.5 billion
Completion Date – est. 2026
Initially bringing together Birmingham and London, HS2 is a revolutionary rail connection designed to act as the ‘backbone’ of the UK transport network. Vastly improving travel times and passenger capacity, HS2 will create a connection between London and Birmingham via Curzon Street Station in Eastside. This will put Digbeth at the centre of the most important infrastructure improvement in the UK.
Centro and Future Travel believe the HS2 project could equal 22,000 permanent jobs and a Gross Value Added (GVA) impact of £1.5bn by completion (2026), whilst the overall project is guaranteed to have a huge impact on tenant demand and property values in the area. On average, Birmingham property prices have increased by 7% since 2017 and continuing to rise with the promise of increased accessibility with the capital.
“Residential investors have already started ploughing into Digbeth, the area immediately in the vicinity of the anticipated HS2 station in Curzon Street. “There has been a wave of interest from developers in the area around the planned Curzon Street HS2 station,” says Mark Evans, Head of Regional Residential Development at Knight Frank. “The station is part of a much wider regeneration of this area and we can see this reflected in land prices.”
Midland Metro Expansion
GDV – £137 million
Completion Date – 2022 (Eastside Phase of Development)
Birmingham’s Eastside Metro extension will be a vital part of the wider project, connecting the main tram line to the upcoming HS2 network. This will bring the Eastside into the wider Birmingham redevelopment and eventually offer more direct links to key West Midlands destinations such as Wolverhampton. Lines running to the NEC and Birmingham International will take the pressure off the main train line, delivering a new wave of accessibility for the region.
Further expansion to East Birmingham and North Solihull is deemed essential for getting the most out of the HS2 line, providing better access to jobs and services. This will be the largest and most expensive section of the extension with the most potential for opportunity.
GDV – £60 million
Completion Date – est. 2021
The renovation of a historic former cycle works destroyed in a fire over a decade ago will result in a brand new £60 million business hub for Digbeth. With Birmingham City University managing the regeneration of the old Belmont Works factory, the new site will be used as a hub for small businesses, arts organisations and academics – providing a space to inspire new ideas and collaborate on projects.
With free facilities including 3D printers, laser-cutting machines and virtual reality technology, the site will be a forward-thinking space for creatives to share ideas and collaborate. The 145,300 sq.ft site will also be home to BCU’s School of Computing, making Belmont Works a true hub of innovation. Plans are with Birmingham City Council and work is due to start in Summer 2019 subject to planning consent. The full Belmont Works development is expected to provide 10,000 new jobs for the wider West Midlands.
Stay Ahead of the Property Market: Newsletter
Sign up today and be the first to get the latest property news, market insights and SevenCapital development updates delivered straight to your inbox, every month.