A joint venture between Urban Splash and Places for People has been chosen as the preferred partner for the development of Icknield Port Loop, one of the biggest brown field regeneration schemes in the UK.
Landowners Birmingham City Council and the Canal & River Trust made the selection from a broad range of developers, house builders, property companies and funds.
Urban Splash and Places for People will now enter into a period of exclusivity, prior to taking a 50 per cent share in a limited liability partnership with the landowners, to bring forward a mixed-use scheme at the 43-acre site.
This will include 1,150 new homes plus commercial uses and community facilities. The joint venture will also provide development management services.
Icknield Port Loop sits within the area covered by the Greater Icknield Masterplan, part of the draft Birmingham Development Plan, which includes the delivery of 3,000 new homes and 1,000 new jobs by 2031.
Barry Allen, head of Savills in Birmingham which advised on the scheme, said: “This is a major milestone for Icknield Port Loop, which is one of the biggest regeneration schemes in the UK.
“Whilst the development has been some time in the making, its launch was perfectly timed to meet renewed appetite for urban housing sites of a scale which can enable real change. The proposals received demonstrated ambition, design flair, place-making and financial appetite.”
Mary Parsons, group director of placemaking and regeneration at Places for People, added: “Both partners are delighted to be named as partner for this major regeneration scheme.
“We formed our joint venture with Urban Splash to bring together our combined strength in designing and delivering great places and look forward to working with Birmingham Council and the Canal & River Trust to create a truly memorable development and a vibrant new neighbourhood.”
Nathan Cornish of Urban Splash said: “We are thrilled to be selected to develop out this fantastic site. Having previously worked on Fort Dunlop and Rotunda it’s great to be developing another amazing project in Birmingham.
“We are looking forward to building on Urban Splash’s experience in developing waterside sites in places including New Islington in Manchester and Royal William Yard in Plymouth to turn this into one of Birmingham’s best residential locations.”
Stuart Mills, property director of the Canal & River Trust, said: “Birmingham is at the heart of our waterway network and we are delighted to be working with Urban Splash and Places for People to deliver what will be an exemplar scheme and an exciting new canal-side destination.”
Sir Albert Bore, leader of Birmingham City Council, said: “This is a substantial opportunity and marks the initial stage of delivery for a major and very exciting regeneration scheme that will provide a significant number of new homes and jobs for the people of Birmingham.
“It will act as a catalyst for Ladywood and the Greater Icknield area and unlock further major regeneration proposals in the pipeline.
“As one of the largest brownfield residential-led development opportunities in the Birmingham, Icknield Port Loop plays a key part in the city’s ambitious growth agenda.
“Located on the edge of the city centre and benefiting from a unique waterside setting, the site has huge potential for the creation of a new family-focused, sustainable neighbourhood incorporating high quality urban design and place making principles.”