Lendlease wins £1.5bn Birmingham Smithfield deal
Lendlease has won the role of Birmingham City Council’s preferred development partner for the £1.5bn Birmingham Smithfield development.
Lendlease will form a contractual joint venture with the City Council to lead the recreation of a 17ha urban quarter that includes a new home for the city’s Bullring retail markets, a family destination including a leisure and cultural offer, a new public square, integrated public transport, and 2,000 homes with public park and community facilities.
The development of Birmingham Smithfield is part of the city’s Big City Plan, launched in 2010, which sets out a 25-year vision to grow the city centre by more than 25%.
The area sits adjacent to Bullring and New Street Station and will be close to the new High Speed 2 City Centre Terminus Station which is set to open in 2026.
The Birmingham Smithfield development will cover 17ha of the city
The City Council will now work with Lendlease to finalise the terms of the partnership, commence the preparation of a planning application and produce a business plan for the site’s redevelopment before the formal award of the Birmingham Smithfield Development Partner contract. This is anticipated to happen by late 2019 with development expected to commence in 2022.
The redevelopment of the area, which is twice the size of Brindleyplace, is expected to take 15 years to complete. The first phase of the scheme will include new homes, the new retail markets building and public realm.
Dan Labbad, CEO, Lendlease, Europe, said: “Smithfield is the birthplace of Birmingham, known for its markets which have always been at the heart of the city. Much like Birmingham itself, the area is brimming with creativity and opportunity. Our plans for the redevelopment will respect this heritage and bring more jobs, homes and environmental benefits to the area and the people of Birmingham.”
Councillor Ian Ward, the Leader of Birmingham City Council, said: “We are extremely excited to be working with Lendlease who are an internationally leading developer with a proven track record of bringing forward major development schemes.
“Lendlease have committed to invest in the local community and create 1,000s of new jobs and training opportunities.”
Lendlease, a leading international property and infrastructure development company, has been selected following an OJEU Competitive Dialogue Procurement process. Lendlease has delivered major developments across the UK including the iconic Bluewater shopping centre in Kent, the 2012 Athletes’ Village and is continuing work on International Quarter London, a major commercial scheme in Stratford.