Reading time: 3 Minutes
What’s New For Birmingham in 2023 – Planned New Developments in the City and Beyond
When investing in property, purchasing in areas that are due for or adjacent to those slated for regeneration is almost always a smart bet. Purchasing property in a growth area means your investment will also benefit from that growth, especially if you’re able to hang onto it for a reasonable amount of time.
And property, after all, is our game, with Birmingham our playing field. So, if you’re looking for somewhere to invest in Birmingham in 2023, these are our top picks for the next development hotspots;
- Digbeth: Lights, Camera, Action!
A wide-ranging project which aims to turn Birmingham into the new home of TV, the next stage in this development sees plans for the Banana Warehouse to be transformed into a TV studio, production offices, and the new home of the BBC show, Masterchef. There are also plans for a Peaky Blinders movie to be shot there, and the BBC are moving from their current offices in the Mailbox to the old Typhoo Wharf warehouse, which will also be revamped. Add in the transformation of a huge ten-acre plot into a mixed-use neighbourhood, including residential and office buildings, and you have all the ingredients for a smash hit (property investment).
- The Ringway Centre: Out with the old, in with the new.
While this development is still seeking planning approval, the plans for three new buildings on the iconic Ringway Centre site will house apartments, retail businesses, restaurants, a cinema, gym, nightclub and a spa. However, it does mean the original curved building, designed by James Roberts, will have to be demolished, and there is some opposition. The plans are scheduled to go before the council this year.
- Perry Barr Train Station: All Aboard!
The revamped train station opened in Summer 2022, as part of the regeneration around the Commonwealth Games. However, further plans going forward include the building of 1400 homes, the redevelopment of Walsall Street, with £700 million in funds earmarked to make it happen.
- Stockfield Road, Yardley: Weddings, Parties, Anything
The former Vauxhall dealership site, vacant for several years, will be transformed into a gigantic events space with room for up to 700 guests, as well as segregated prayer rooms. Expect a knock-on effect in the surrounding area.
- Solihull’s ‘Bicester Village’: Shop Till You Drop.
A dilapidated 1960’s shopping strip in St John’s Way, Solihull will be transformed into a modern designer shopping village, which will also include residential space. Get your wallets ready!
- New Monaco: The Heart of City Living
This development is a major regeneration scheme in the heart of Birmingham city centre, comprising more than 1000 flats, which developers say will provide a ‘modern village environment’ for residents. With several high-rise blocks plans, the only fly in the ointment is the comparatively small amount of affordable units planned in the project, less than 10%.
- Empire Cinema: Memories of the Silver Screen
The listed Empire Cinema building in Sutton Coldfield has been given the green light for redevelopment, with approval granted to build apartments on the cinema’s former car-park. The cinema itself has been granted permission to install sofa seating, so sit back and make yourselves comfortable – the show is about to begin.
There are plenty more developments happening out there, so if you are looking to purchase property, whether as a home or an investment, do your research and see if you can ride the new development wave.