WEST MIDLANDS INVESTMENT GUIDE2016 THE FACTS AND STATS FOR THE UK S MOST EXCITING INVESTMENT DESTINATION SPONSORED BY

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1 WEST MIDLANDS INVESTMENT GUIDE2016 THE FACTS AND STATS FOR THE UK S MOST EXCITING INVESTMENT DESTINATION SPONSORED BY

2 ADVERTISING PROFILE West Midlands property experts confident in the market post-brexit At legal business DWF the predominant message is business as usual DWF s National Head of Real Estate Toby Askin and Birmingham Real Estate Team Leader and Head of Hospitality Sector Melanie Williams, both based in Birmingham, discuss the impact the result is having on the property market and reflect on the opportunities presenting themselves to the West Midlands. Reeling from the shock For many, waking up on the morning of the 24th June to the news Britain had voted Brexit was a shock. Since that morning we ve witnessed political, social and economic instability as people from various geographies and companies in various sectors reeled from the result. Now, over a month on, how is the property sector reacting? EU law mostly affected the areas of State Aid, Procurement, Environment Agenda and Health & Safety and had less impact on general real estate and property law, therefore changes to the transaction mechanics in the main should be relatively minimal, yet an air of caution is still very much being felt nationally. At DWF we remain confident about the market; the UK is anchored in one of the most secure and stable real estate markets in the world. Indeed, many of our clients are telling us that post-brexit conditions present increased opportunities. The UK real estate market is effectively trading at a discount to international investors and the reduction in asset values equally signals a good time to invest. We re maintaining our faith in the West Midlands and continue to advise an eclectic mix of clients from both the private and public sectors, which is an indication of the health and well-being of the local market and economy. We ve remained involved in a number of significant transactions, including long-term, strategic projects across the transport and manufacturing sectors, transactions requiring Birmingham Real Estate Team Leader, Melanie Williams innovative use of tax-led structuring in property development and working with high-net-worth investors who continue to seek investment opportunities in a pausing market something we predict will occur more over the coming months. While numerous major funds temporarily suspended post-brexit, in the same week our team completed a circa 85million forward funding and sale of a hotel development to a pension fund, demonstrating that strong transactions agreed pre-brexit will likely succeed, particularly for domestic products and investors. Building confidence Family-owned property investment and development company Hortons describes the Brexit fallout in the region s property market as patchy. Tony Green, Hortons chief executive, commented: Since the vote we ve seen far more deals complete than stall and, for the most part, those that have stalled are actually just being put on hold while some companies monitor what happens over the next few weeks. The recession is still very fresh in people s memories, occupiers in particular, and only in the last 18 months have we seen a return to normal confidence with more people being prepared to make decisions, take more space and pay more rent. What remains to be seen is whether that confidence level is retained or whether it is lost or impacted by further economic instability following the vote. We have every confidence that the market will stabilise quickly; the Government got back on its feet faster than most people expected and information coming from the Bank of England has been positive overall but with the uncertainty that s present, it wouldn t take much to swing things the other way. Regional investment Hortons Tony Green says: The Midlands is still a key area for investors as it provides a variety of exciting opportunities for both manufacturing and service industries. Birmingham is a growing city with a young population, good transport links, a clear economic strategy and an established reputation for delivering key infrastructure projects, which has attracted and retained many well-known occupiers, and presents an excellent opportunity for further development and continued economic growth. For DWF the continued resilience of the West Midlands real estate sector is vital to post-brexit success. Those who witnessed the recession remember the camaraderie demonstrated in Birmingham s business community - a support network that remains today. There s a feeling of determination to remain positive and not allow the vote to interrupt trade any more than necessary. Brexit presents a big opportunity for Birmingham, as the second largest city in the UK with one of the country s largest financial districts and the ability to match demand with supply, we should all be focused on business as usual. CONTACT DETAILS: Melanie Williams Real Estate Team Leader Tel: Mobile: melanie.williams@dwf.law

3 SIX MILLION REASONS TO SAY YES W elcome to Insider s West Midlands Investment Guide. Here is the key data you ll need to start exploring Britain s most exciting investment region. The West Midlands is in the global Premier League when it comes to investment opportunities: it is Britain s most popular relocation destination from an overheating London and South East. Hundreds of businesses are already looking at how they can open offices, build factories and set up logistics hubs here. There s plenty to attract them: one of Europe s youngest populations; seven cities; the core of Britain s transport hub; 12 universities; a highly-qualified workforce; and home to some of the world s best-known industrial names, including JCB, Jaguar Land Rover, Cadbury and Aston Martin. The West Midlands is a broad-based economy, growing faster than the national average and combining Britain s industrial heartland with the biggest professional and financial centre outside London. Over the next few pages you ll see senior business people and public sector officials explain what the region s opportunities are, and how enterprises can make the most of its huge potential. This is more than just spin it s an upbeat assessment based on cold hard facts across a wide range of areas: the size and skills of the region s workforce; its impressive productivity; a remarkable foreign investment record; the opportunities in commercial property; educational attainment; wealth and transport links. Investments from the likes of HSBC and HS2 have turned the spotlight Cover image shutterstock.com SPONSORED BY IAN GRIFFIN on Birmingham, making it not only a national investment hotspot, but one of the most desirable places to invest in Europe. But the West Midlands has six other major cities and dozens of fast-growing towns within its 5,000 square miles, all punching hard when it comes to growth, property redevelopment and skills. Among these is Coventry, a city embarking on a transformation with 3 million sq ft of mixed-use space planned, including 14 grade A office buildings; a regeneration masterplan to create 9,000 jobs in Stoke-on-Trent, which recently secured enterprise zone status; the 55m being ploughed into reshaping and repurposing the centre of Wolverhampton. But the most compelling argument is for our people: educated, hardworking, motivated, skilled. Together they re almost six million reasons why you should say yes to investing in the West Midlands Ian Griffin, business editor Midlands Business Insider 2.81M TOTAL WORKFORCE WEST MIDLANDS SOURCE: ONS KEY BUSINESSES JAGUAR LAND ROVER, JCB, CADBURY, E.ON, CARILLON, LAFARGE TARMAC, BET 365, IMI, MOLSON COORS, GKN WEST MIDLANDS FOREIGN INVESTMENT 493.5M SOURCE: MARKETING BIRMINGHAM (2014/15) 25,610 AVERAGE ANNUAL WAGE SOURCE: ONS 15,551 HOUSEHOLD DISPOSABLE INCOME (UP 2.3% ON YEAR) SOURCE: ONS REPORT % WEST MIDLANDS SCHOOLS RATED GOOD OR OUTSTANDING BY OFSTED SOURCE: OFSTED WEST MIDLANDS REGIONAL REPORT 2013/14 WEST MIDLANDS INVESTMENT GUIDE

4 SPONSORED BY WEST MIDLANDS INVESTMENT ROUND TABLE Winning hearts as well as minds The West Midlands has shown itself to be a great place for business. Now it needs to show that it s a great place to live RICHARD HUTCHINS deputy chief executive, Marketing Birmingham The West Midlands Combined Authority (WMCA) has created an economic plan which sets out some ambitious targets, as well as some of the challenges, such as housing. What s interesting is the catalytic effect it s having on people s mindsets. We re realising that we have to go about things in an integrated way; you can t just look to attract students into the region if you haven t got the housing to accommodate them. We ve been asked to help create a growth company for the WMCA that s all about marketing the whole area to potential national and international investors. Marketing it in a joined-up way is crucial. There s no point in inviting a Chinese investor and just showing them Birmingham; they will be interested in other areas of the region. We ve won over people s minds with the investments we have attracted. There s now a big opportunity to win over their hearts, because people have to make decisions about where they live, where they want to send their kids to school and where to go out at night. We re working with HSBC and we brought workers from London to show them what the region has to offer in terms of theatre, schools and shopping. They were completely blown away with positivity. TOM SMITHERS asset manager, Ashby Capital We bought our fi rst property outside London in Birmingham last year, principally based on the growth prospects, the talent which is available and a young and diverse workforce. One of the keys for us is housing. Compared with London, Birmingham is attractive for housing. The improvements to New Street station has led to many Londoners talking about the city and how great that is. CRAIG HUMPHREY managing director, Coventry & Warwickshire LEP Growth Hub Manufacturing is the star of the show in the West Midlands. Birmingham city centre is more about the fi nancial sector and we ve attracted some large corporate headquarters, which is great. But I ve heard too many times RICHARD HUTCHINS TOM SMITHERS 36 WEST MIDLANDS INVESTMENT GUIDE 2016

5 ADVERTISING PROFILE Exciting times for the West Midlands There has never been a better time to invest. These are exciting times for the region As the Chair of the newly formed West Midlands Combined Authority (WMCA) I am proud that we have agreed with government the biggest devolution deal to date and look forward to the opportunities devolution brings. Our plans for the future are ambitious. They are based on our proud manufacturing history, central location and track record in innovation. They show that a stronger West Midlands is not just good for the region s people and businesses but the UK as a whole. Our economy already boasts world famous names such as Jaguar Land Rover and Cadbury which gives us an excellent starting point to deliver economic growth. And as well as our historic manufacturing and engineering base, we have new industries such as creative and digital, growing all the time. Additionally our great rail, road and air links gives us a significant competitive edge. This will be strengthened by development at Birmingham International Airport and the arrival of HS2, which will bring us even closer to London and position us as a world class business location. We also have excellent research and development facilities to drive innovation, with the skills and resources of universities, science parks and research institutes that can help us change the way we work and improve people s lives. The region s local authorities have established the WMCA alongside the three local enterprise partnerships (LEPs) from Birmingham & Solihull, the Black Country and Coventry & Warwickshire. Through working together we have established that we can collaborate more effectively than if we compete against each other and we are confident that we will deliver numerous more jobs and bring in more investment and income. We will tackle the priority issues that will help make the most change. These include: New manufacturing economy; creating the biggest concentration of high value manufacturing businesses in Europe and their supply chains. Creative and digital; further developing this vibrant and flourishing sector. Environmental technologies; securing transformational environmental improvements. Medical and life sciences; enabling the further growth of the medical and life sciences sector. HS2 growth; maximising the benefits of the largest infrastructure project in Europe. Skills for growth and employment for all; ensuring the skills needs of businesses are met and everybody can benefit from economic growth. Housing; accelerating the delivery of current housing plans to increase house building to support the increased level of growth. Cllr Bob Sleigh, Chair of the West Midlands Combined Authority Exploiting the economic geography; making the most of the scale and diversity of the West Midlands geography to enable economic growth and community well being throughout urban and rural areas. Devolution and the WMCA gives us a once in a lifetime chance to transform our region; to drive growth, deliver more jobs and better skills training, build homes with better access to fast and efficient transport and to get the region on the map to a national and international audience. Our plans will make sure we put the right resources in the right places at the right time to deliver timely and effective change for the people, businesses and communities of the West Midlands. There has never been a better time to invest with us and to work with us and I look forward to what the future will bring. CONTACT DETAILS: Councillor Bob Sleigh Chair of the West Midlands Combined Authority Web:

6 ADVERTISEMENT Sara Fowler Senior Partner, Midlands, EY MIDLANDS FOREIGN INVESTMENT INCREASES BY 40% SINCE 2014 The EY Midlands Engine Attractiveness Survey, published last month proves that it s been another exceptional year for the Midlands with record Foreign Direct Investment (FDI) in The total number of FDI projects recorded in the Midlands grew by 40%, with 129 new projects - a 12% market share of all UK projects. The Midlands region as a whole has recorded year-on-year rises in FDI projects every year since 2011 and the number of projects recorded in 2015 represents a 122% rise over those reported in Investment projects created 8,657 jobs across the Midlands - 20% of all FDI jobs created across the UK. Over 80% of these were recorded in the West Midlands, making it the best performing UK region in Investment has been strongly led by manufacturing, with the Midlands remaining the UK s top region for attracting manufacturing FDI. Such projects have increased 28% since The broad-based nature of the rise in investment projects across the region is underlined by the fact that every single one of the ten leading sectors for Midlands FDI recorded an increase in projects over their performance in The number of automotive investments increased by 53% in 2015 to give the Midlands a 46% market share of all UK FDI projects in the sector. German investment was more important to the West Midlands that of the UK as a whole, as was Indian investment which represented 9% of FDI projects secured in the Midlands compared to 6% for the UK. Since a decision has been made by the UK electorate to leave the European Union, businesses are now looking to focus on consequences related to a period of uncertainty and expected unprecedented change. That said, change also brings new opportunities and investors now have a prime prospect to take proactive steps to prepare for the challenges that lie ahead. Foreign investors have consistently told us that the UK s diversity, culture and language, the stability and transparency of the political, legal and regulatory environment in the UK and the stability of the UK s social climate are three of the UK s most attractive attributes and I believe this perception will continue. Clearly the UK needs to negotiate the terms of its separation from the EU and to start to engage with other trading partners to make clear that Britain is open for business. At the same time it is at least as important to consider the domestic political agenda. This two-pronged approach is essential to get the UK moving forward together as one nation. Businesses across the Midlands must now assess their position in terms of trade, regulation and their stakeholders. Less than two weeks post the EU referendum, a new Midlands Engine foreign investment hub was launched in a bid to generate a 15m boost for the region. This will help deliver more high value investments into the Midlands Engine. With a focus on the Midlands as the UK hub of advanced manufacturing and with infrastructure schemes such as HS2 on the horizon, I m confident that the region will continue to remain a strong choice for investment and build the profile of the Midlands Engine as a global investment hot-spot. CRAIG HUMPHREY over the past 25 years that the Midlands USP was its geographical location we were the worst-performing region for too many of those years. We have fantastic innovation, yet a transient student population who come and get educated, then leave. One criticism of us is that we re too small-minded. In Coventry and Warwickshire in the past two years we ve attracted just over 500m of Chinese investment. We have someone from China coming here who wants to visit Scotland. I initially thought, Scotland that s a long way from here. But to them it s like driving through Shanghai. We need to talk on a bigger scale to attract that type of global investment. On the subject of housing, while supply is vested in local authorities, undersupply will continue to be an issue. The problem is many local politicians see housing growth as unpalatable because they don t get elected for advocating it. WAHEED NAZIR strategic director for economy, Birmingham City Council If you look at successful cities around the world, you fi nd the public sector has worked with the private sector in a mature way. They have also seen growth for the wider social impact it can bring. We re looking to build housing on the largest greenbelt area of any core city in the country. If we re not Contact details; Sara Fowler Senior Partner, Midlands T: E: sfowler@uk.ey.com WAHEED NAZIR 38 WEST MIDLANDS INVESTMENT GUIDE 2016

7 SPONSORED BY HOMES BUILT 3,405 February to April ,375 February to April 2015 SOURCE: NATIONAL HOUSE BUILDING COUNCIL INDUSTRIAL SPACE Available industrial space (sq ft): 1m OFFICE SPACE Available office space (sq ft) Birmingham & Solihull: 2.35m Coventry & Warwickshire: 800,000 SOURCE: COLLIERS INTERNATIONAL/COSTAR WEST MIDLANDS PLANNING PERMISSIONS GRANTED (SQ FT) Business (B1a) 1,014,842 1,163, ,923 Business (B1b) 205,257 19,160 Industrial (B2) 1,095, , ,551 Industrial (B8) 968,417 1,012, ,410 SOURCE: EGI/COLLIERS INTERNATIONAL INDUSTRIAL DEVELOPMENT 2,500,000 SQ FT under construction in the West Midlands OFFICE DEVELOPMENTS 790,212 SQ FT under construction in the West Midlands SOURCE: COLLIERS INTERNATIONAL/COSTAR PROPERTY ADAM ROCK bold enough, we won t deliver the housing we need, and if we don t, we won t get the economic growth. You can t separate housing and growth. We have one of the most youthful regions in Europe, and we need to emphasise that more businesses are locating here because of it. But poor skills are hitting productivity; we need to address that to grow the economy. I d like more powers over skills as part of the devolution package. We have poor retention of graduates, but with companies such as Deutsche Bank recruiting here, things are starting to change. ADAM ROCK partner, Bruton Knowles Out of the 70,000 graduates per year coming out of the region s universities, how many of those stay in the area? Surely that needs to be looked at closely. I m someone who has graduated here and stayed here. TONY GREEN chief executive, Hortons Estate It would be a mistake for the region if it thought getting fi nancial services to come to Birmingham was the answer. We ve realised in the past fi ve to seven years that ignoring manufacturing is detrimental. There s been an improvement in confi dence in suppliers, which have moved towards upgraded space because of the skilled staff they want to attract from universities. They want good working conditions because that breeds innovation. Through that, the region has moved up in terms of commercial space in the past fi ve years, and the price investors are paying has fallen, so rent has been in line with what s affordable. However, we re still not positive enough about what we offer and how infrastructure has improved. People still think of the Black Country as it was when Queen Victoria drew the blinds on the train while travelling through. That s no longer the case. We re understated and self-deprecating; when you go to Manchester they tell you how wonderful things are there. TONY GREEN WEST MIDLANDS INVESTMENT GUIDE

8 ADVERTISEMENT Dinah Patel Commercial Property Plan to succeed when it comes to property development When considering any form of property development, it is essential that advice on the planning process is sought as early as possible. The old adage time is money is never more true than in property development and the experts at Higgs & Sons will work in partnership with clients in order to deliver results in a timely, costeffective way. Working within Higgs & Sons renowned Commercial Property department, Dinah Patel has over 10 years experience working on planning, compulsory purchase and highways matters. Dinah brings a detailed knowledge of the issues pertaining to planning within the West Midlands region, having acted for developers, landowners and the public sector (including the largest local authority in the UK) on all aspects of commercial and residential development schemes throughout the UK. Being at the forefront of this ever-changing area of law enables Dinah to advise on developments in planning legislation and potential changes to policy and statutory guidelines, so that clients can stay ahead of the game when it comes to planning matters. Dinah s planning and highways experience covers the following key areas: acting for claimants, defendants and interested parties in judicial review and high court challenges conducting public inquiries for major development CPO experience acting for local authorities and landowners reviewing planning applications, including environmental assessment and legal compliance drafting and negotiating section 106 agreements including affordable housing advising on the full range of highways issues including agreements for highway works, stopping up and diversion orders and road traffic regulation. If you would like further information on how good planning advice can add value to your property development, please contact Dinah Patel at Higgs & Sons via: E: dinah.patel@higgsandsons.co.uk T: STEWART TOWE STEWART TOWE chair, Black County LEP The success of the past couple of years has come from partnerships across the West Midlands. That s created a much broader opportunity for us all. Are we doing enough to promote the area? You ll never do enough. The question should actually be are we doing the right things in the right direction to infl uence what s important for the growth of existing businesses and for inward investment? Businesses need skills, land remediation and transport, but there are the softer aspects as well, such as housing, quality of life, retail and leisure. Westminster s view of the region has changed because we re looking at all of those as a whole package. If you are doing more and better than others, you ll attract more and do better than others. It s about looking at linking up supply chain opportunities. When you look at the area as a functional economic area, you can say to a business for example, those from the automotive, aerospace or construction supply chain we can offer you the sourcing and customer base to give you the opportunities you re looking for. That s a really effi cient way of operating your business, and other areas can t really offer it. The private sector has historically backed off from the public-sector issues. But you can t do that now we re working together. Both sides recognise that by working together they can have a much greater effect on the pace of change and the funding for change. MARK MARTIN chair, Worcestershire LEP business board It s teamwork that makes a successful business, and it s about fi nding those 40 WEST MIDLANDS INVESTMENT GUIDE 2016

9 SPONSORED BY EDUCATION NVQ4 (foundation degrees) and above (prof. qualifications) 1.1m NVQ3: (A-levels and BTECs) 596,400 Trade apprenticeships 92,100 NVQ2: (GCSEs A-C) 609,900 NVQ1: (GCSEs D-G) 425,600 Other qualifications 252,500 No qualifications 460,200 SOURCE: EGI/COLLIERS INTERNATIONAL WEST MIDLANDS AVERAGE COMMUTE 8.8 MILES UK AVERAGE: 15 MILES SOURCE: ONS PEOPLE EMPLOYMENT BY OCCUPATION Employment by occupation WEST MIDLANDS UK Managers, directors and senior officials 252,900 (9.7%) 3,219,300 (10.3%) Professional occupations 464,500 (17.9%) 6,199,700 (19.8%) Associate professional & technical 327,400 (12.6%) 4,377,700 (14%) Administrative & secretarial 278,500 (10.7%) 3,330,800 (10.7%) Skilled trades 299,700 (11.5%) 3,313,500 (10.6%) Caring, leisure and other services 244,400 (9.4%) 2,886,500 (9.2%) Sales and customer service 190,100 (7.3%) 2,397,100 (7.7%) Process plant & machine operatives 203,100 (7.8%) 2,012,800 (6.4%) SOURCE: ONS EMPLOYMENT RATE 71% 2,650,000 SOURCE: ONS POPULATION AGE RANGE 7% 13.2% 12.3% 14.1% 12.1% 6.1% 15.2% PLUS complementary aspects that we can offer. The Midlands has a huge aerospace industry, but we don t shout enough about it. We should be raising its profi le, then showcasing the complementary skills in the area. We have 27 universities in the Midlands as well as three international airports, if you include Luton. PHIL MANN Birmingham offi ce director, Faithfull + Gould The challenge you have when building homes in the city is attracting families, CONTINUED ON PAGE 45> MARK MARTIN PHIL MANN WEST MIDLANDS INVESTMENT GUIDE

10 ADVERTISING FEATURE INVEST City of Wolverhampton With over 3.7 billion investment on-site or planned, there s never been a better time to invest in the City of Wolverhampton. Urban & Civic will deliver a 55m leisure-led scheme at Wolverhampton Westside Wolverhampton is amongst the top-ten economic growth areas in the UK and voted one of the best cities in the UK to start a business. The city is at the heart of the Black Country and is the driving force behind greater regional devolution. The UK s biggest devolution deal will see 8 billion worth of funding devolved to the area to boost jobs, skills, housing and transport, with Wolverhampton determined to benefit. At the heart of the UK s rail and motorway networks Wolverhampton is well placed to attract further investment. Sector leading firms Jaguar Land Rover, Carillion, UTC Aerospace, Moog, Marston s and Wiggle already call the City of Wolverhampton their home. Investment opportunities The city has a number of ready-to-go, council and partner-owned sites available for development and the city council are committed to working with potential investors and developers to bring these exciting propositions to life. Tim Johnson, Strategic Director at the City of Wolverhampton Council says, We are open to ideas about how best we can take developments forward and actively encourage innovative, quality schemes to put the city on the map. In return for your commitment, Wolverhampton will support you to get funding, give you planning certainty and provide a dedicated account manager to help you at every step. Wolverhampton believes they have an exciting proposition and need partners who share their vision for a thriving and vibrant City. Having seen some of the plans it s hard to disagree: Wolverhampton Westside is a prime development site in the heart of the city centre, ear-marked for leisure, restaurants, shops, homes and a hotel. After extensive marketing Wolverhampton interchange will improve the city s great connectivity even further and numerous bids from leading UK developers and investors, Wolverhampton have announced Urban & Civic as their preferred developer. Nigel Hugill, Chief Executive at Urban & Civic praised the city council for their forsight in acquiring a number of sites across Westside, saying, First, full recognition and thanks to the City of Wolverhampton Council for recognising the importance of project stewardship. Too many projects fall at the hurdle of land assembly. Second, I can only endorse the real importance of Wolverhampton Westside. More than ever at the moment, economic revitalisation involves an enduring sense of partnership. Urban & Civic currently lead on some of the largest schemes in the UK but, on the basis that we do things properly, I know that none can rely on more support than that from the Black Country. We will do all that we can to reciprocate. In summary, Wolverhampton is experiencing a huge surge in momentum and confidence. With 3.7bn investment in the city now or planned, 10,000 new homes in the pipeline and 250m invested in the university, there s never been a better time to invest in the City of Wolverhampton. Why choose City of Wolverhampton? Great location and connectivity Council-owned, ready-to-go sites Financial and funding support Open to your ideas about delivery A personal account manager to talk to you about opportunities Planning certainty and a dedicated planning professional from day one Support with workforce recruitment to ensure you find the right people

11 Be part of the City of Opportunity There s never been a better time to be looking at the City of Wolverhampton. As well as our great location and connectivity, the city has a number of ready-to-go, council and partner-owned sites available for development. Four key gateway sites within the heart of the city centre are showcased here. WOLVERHAMPTON SOUTHSIDE 2.5ha mixed use development opportunity Central location close to city centre retail core Potential for city centre living Available soon Planning certainty WOLVERHAMPTON CANALSIDE Major, mixed-use development opportunity over 47ha Adjacent to 120 million integrated transport hub Majority of sites owned by canalside partners Attractive city centre living proposition for over 600 new homes Immediate opportunities WOLVERHAMPTON ROYAL Unique urban village scheme Based around iconic heritage buildings on 5ha site Close to city centre and on direct tram line to Birmingham Opportunities available now Planning certainty WOLVERHAMPTON ST.GEORGE S Prime 1.4 acre city centre gateway site Freehold acquired by council 250m from main shopping core and Interchange Open to discussions now about mixed use opportunities Planning certainty Let s talk business. Contact Tim Johnson, Strategic Director, City of Wolverhampton Council T: W:

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13 SPONSORED BY >CONTINUED FROM PAGE 41 because of the densities. It s a challenge to make apartments work fi nancially in Birmingham something we have been trying to achieve. The values and construction costs mean that historically they ve not been viable to develop. But things have been changing recently and it s now becoming more profi table. LAURA SHOAF managing director, Transport for West Midlands The biggest piece of national infrastructure that will be built for many, many years HS2 is coming here fi rst; it s a huge opportunity for the region. Transport is only one element of place-making, but it s really important that people are able to move throughout the region in a way that isn t going to cause congestion. It s important that we extend the Metro and get more capacity out of the rail system. We want to see transport play a major role in making the Midlands more liveable, with cleaner air and better walking and travelling. People want to be located in our city centre because of what s being offered already by transport. But there s a lot more to do that will extend the options. We also need to provide services and infrastructure around young people, to help attract them here. Now is the time for the Midlands. The transport secretary made his fi rst speech here and Theresa May made the speech that launched her campaign to be leader of the Conservative party and prime minister here in Birmingham. LAURA SHOAF PLANES BIRMINGHAM AIRPORT The UK s fifth-largest airport 9 million passengers per year UK s second-highest proportion of business travel behind Heathrow 50 airlines fly to more than 100 destinations worldwide Two passenger terminals Employs 7,000 staff Plans for a second runway and a new terminal complex, enabling it to handle up to 70 million passengers per year, creating 250,000 jobs in the region Base for Flybe, Monarch, Ryanair, Thomas Cook Airlines and Thomson Airways. From March 2017 the airport will become a base for Jet2.com SOURCE: BIRMINGHAM AIRPORT MIDLANDS METRO Between Birmingham and Wolverhampton via West Bromwich and Wednesbury 1.2 BN expansion programme includes new lines to Centenary Square, Edgbaston and Curzon Street TRAINS BIRMINGHAM NEW STREET 140,000 passengers per day To London: 1 hr 50 mins To Manchester: 1hr 38 min To Nottingham: 1hr 14 min To Edinburgh: 4hr 57 min AVERAGE TIMES. SOURCE: NATIONAL RAIL ENQUIRIES COVENTRY 15,000 passengers per day To London: 1hr 26 min To Manchester: 2hr 8 min To Nottingham: 1hr 45 min To Edinburgh: 5hr 36 min AVERAGE TIMES. SOURCE: NATIONAL RAIL ENQUIRIES STOKE-ON-TRENT 7,500 passengers per day To London: 1hr 46 min To Manchester: 44 mins To Nottingham: 2hr 32 min To Edinburgh: 5hr 6 min AVERAGE TIMES. SOURCE: NATIONAL RAIL ENQUIRIES HS2 49 MINUTES journey time to London Reduce journey time to Manchester (second phase) to 41 mins First phase planned for 2026 First phase terminus station, Curzon Street, Birmingham Will handle 25,000 passengers per day Second station, Birmingham Interchange, close to Birmingham Airport SOURCE: HS2 LTD CAR LONDON 120 miles, approx 2 hrs M6, M42, M40 MANCHESTER 86 miles, 1hr 49 min M6 LIVERPOOL 98 miles, 1hr 56 min M6, M62 DOVER 213 miles, 3 h 27 min M6, M42, M40, M25, M20 NOTTINGHAM 52 miles, 1 hr 12 min M6, M42, A42, A543 AVERAGE TIMES. SOURCE: AA TRANSPORT WEST MIDLANDS INVESTMENT GUIDE

14 400 acres employment land 3,000 new homes Competing with Enterprise Zones with the Enterprise Telford Pledge

15 SPONSORED BY ADVERTISEMENT JAY PATEL JAY PATEL business development manager, Wolverhampton City Council We ve been able to get a portfolio of projects such as for retail, business and around the science park which can rank alongside others in the local LEP and the rest of the region. Certain projects, such as our transport hub, play an important role in connecting with Birmingham and Coventry. We can work up those projects depending on how they fi t in with the rest of the LEP area or region. MELANIE WILLIAMS partner, real estate, DWF If we want to play as a global city, we have to behave like a global city. We need all this infrastructure otherwise we won t be taken seriously. It s so encouraging to see a growth company being created for the WMCA. In the past there must have been a massive overlap where people were trying similar things and wasting effort because someone else was doing it. This is all about using resources more effectively, not doing the same thing twice, and having a consistent message. In housebuilding, businesses fi nd it hard to make it stack up fi nancially. They fi nd it diffi cult to access funds from organisations such as the HCA. That means we ll struggle to meet government housing targets. MELANIE WILLIAMS IAN SHAW head of Birmingham offi ce, Pick Everard Birmingham is the hub of the region, but it s about that working with the surrounding area. It doesn t need to expand out; it can feed in from other cities. We need to look at how cities are expanded in Asia. Singapore can t expand any further because it s an island, but Johor Bahru in Malaysia has grown off the back of it, from the transport links. IAN MERCER partner, Bruton Knowles We should be marketing the aspects the region is excelling at, for example, aerospace is in Wolverhampton. Looking at how infrastructure works across the region is fundamental to the future of the economy. There s a shortage of industrial space. We have to step up to the mark to compete in the global market, but to do that we need quality industrial space. The skills shortage is huge; it s the technical skills and the tradespeople. It s a real diffi culty for businesses and it needs to be addressed by starting much earlier with youngsters. But we also need to play to our strengths. There s a connection between Coventry and Warwick and Tewkesbury, Gloucestershire, because of the need to capture graduates to fi ll hi-tech jobs in the town. Ian Mercer Development Wolverhampton A City of Opportunity At a recent event in London, the City of Wolverhampton Council and its inward investment arm Invest Wolverhampton showcased the city to a room full of investors, developers and businesses. At a time of political and economic uncertainty, this was an opportunity for the city to put its head above the parapet and send a signal to the rest of the world that it is very much open for business. Presentations were given by the leader of the council, plus other local councilors and MPs, who put forward their case for the city and its credentials as a bona fide inward investment hot spot. The star of the show was Westside and the announcement of Urban & Civic as the preferred developer for the 55 million leisure-led mixed-use development, which Bruton Knowles, with joint agents JLL, is advising the council on. Plans for the 6.4-acre site include a multi-screen cinema, restaurants, bars, hotel, apartments, multi-storey car park, and public realm. Of course, Westside is just one of the many development and investment opportunities in Wolverhampton, with Southside, Canalside, St George s and Wolverhampton Royal all primed and ready to be delivered. This is an exciting time to be involved in the redevelopment and regeneration of Wolverhampton. As the event in London demonstrated, there is considerable interest being generated from developers and investors who recognise that there has never been a better time to invest in the city. Contact details: Ian Mercer Partner Development Consultancy Tel: E: ian.mercer@brutonknowles.co.uk IAN SHAW IAN MERCER WEST MIDLANDS INVESTMENT GUIDE

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