The West Midlands MIPIM delegation addressed global investors at the UK Government Pavilion at the international property conference in Cannes earlier this week, unveiling transformational investment opportunities from right across the UK’s largest regional economy; with a particular focus on accelerating the regions ambitious net zero agenda.
Directors and chief executives from some of the region’s biggest names in property joined the delegation, including representatives from St Joseph Homes – part of the Berkeley Group, MEPC – managers of Birmingham’s new Paradise development, Arcadis, Bruntwood, Glenn Howells Architects, Lovell, and Mott MacDonald. Mayor Andy Street addressed global investors at the event, presenting a multi-billion pound prospectus of investment-ready opportunities from around the region.
Councillor Ian Brookfield, Leader of the City of Wolverhampton Council, Cllr Brigid Jones, Deputy Leader of Birmingham City Council; Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council also backed the ambitions for one of the UK’s biggest ever retrofit initiatives.
The 3 Cities Retrofit Initiative across the cities of Birmingham, Coventry and Wolverhampton, represents a transformational opportunity to advance the West Midlands’ net zero ambitions, by targeting more than 165,000 social homes for improvements across energy efficiency, green energy generation and green heating. The initiative has the potential to activate an additional market making opportunity of more than 535,000 private-owned homes, turbocharging the West Midlands’ green growth agenda.
During the session, leaders from the three cities outlined their plans for how pooling assets, collaborating across the cities and drawing on expertise and partnerships – including with the West Midlands Combined Authority (WMCA) – will unlock transformative opportunities. The 3 Cities Retrofit Initiative outlines coordinated action to address barriers, build capacity and capability, and develop financing and delivery models, across the region’s housing landscape.
Andy Street, the Mayor of the West Midlands, who is led the regional delegation at MIPIM, said: “The private sector helped drive the West Midlands to become the fastest growing region outside of London before the outbreak of Covid, with record numbers in work, record homes being built, and record investment in public transport.
“But the pandemic has knocked us for six, and it is mission critical we now leverage in even more private sector investment to turbo-charge our recovery and get us back on our feet quickly.
“We have a track record of delivery, and a new multi-billion pound prospectus ready to unveil to the world at MIPM. So with the once in a generation opportunities of HS2 and the Birmingham 2022 Commonwealth Games on the horizon, the West Midlands is an opportunity that investors do not want to miss out on.”