Designs have been unveiled for the renovation of a historic former cycle works destroyed by fire more than a decade ago to create a £60 million business hub.

Birmingham City University (BCU) is regenerating the old Belmont Works factory, in Cardigan Street, to create the second phase of its STEAMhouse project.

The scheme will involve the construction of a new five-storey building and the partial demolition, restoration and extension of the former cycle plant.

It will be used as a hub for small businesses, arts organisations and academics to provide a space for them to work together on new projects and business ideas.

BCU has major plans for the former cycle works which was destroyed by fire in 2007
BCU has major plans for the former cycle works which was destroyed by fire in 2007

It will contain free facilities such as 3D printers, laser cutting machinery, virtual reality technology and printing studios and also be home to BCU's school of computing across 145,300 sq ft of space.

Plans have now been lodged with Birmingham City Council and work is due to start this summer, subject to planning consent, and is due to be finished in 2021.

Last year, £15 million in new government and LEP funding was secured to support the development which will complement phase one of STEAMhouse which opened in a former car showroom in Digbeth High Street last May.

The two sites are expected to create up to 10,000 jobs across the West Midlands region.

How the project will look from Belmont Row
How the project will look from Belmont Row

Professor Julian Beer, deputy vice-chancellor of Birmingham City University, said: "STEAMhouse has the ability to play a central role in supporting the region's business community, developing skills and underpinning economic growth.

"These plans represent a major step forward for phase two of the project and will provide even more state-of-the-art facilities for businesses, artists and academics to collaborate on innovative new ideas.

"It is equally pleasing to have the opportunity to revitalise a historic Birmingham building in a part of the city which has already seen major transformation and will soon welcome HS2."

Work is set to start on the project this summer and be finished in 2021
Work is set to start on the project this summer and be finished in 2021

Belmont Works was built in 1899 and was originally used for the manufacture of bicycle parts since when it has adopted a number of uses including a factory for linen clothing, bedsteads and pianos.

Latterly, it was an engineering depot and offices for the Co-operative Society from around the 1960s but was gutted by a fire in 2007 since when it has stood derelict.

The site is next to BCU's expanding city centre campus, built to replace its now defunct former home in Perry Barr, the planned HS2 terminal and trade union Unite's new conference centre.