The search has begun for a new investor to drive perhaps the most long-awaited regeneration site in Birmingham.
Birmingham City Council and the Canal & River Trust have instructed international real estate advisor Savills to secure a joint venture partner for Icknield Port Loop.
The site was a major part of the city’s showing at property conference MIPIM last year and aims to unlock the development potential of a major regeneration site near Edgbaston Reservoir which has been a long time coming.
Icknield Port Loop, which extends to approximately 43 acres (18 hectares), has outline planning consent for a mixed-use development including up to 1,150 new homes plus retail, employment and leisure uses, non-residential institutions, hotels and community facilities.
Barry Allen, head of Savills Birmingham, said: “This is a unique opportunity for a major canal-side regeneration scheme in Birmingham and we are delighted to be working with the landowners to bring it to life. The focus now is on selecting a strong private sector delivery partner to invest in the development and begin to realise its full potential.”
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.