Mark Wild, chief executive of HS2 Ltd, is calling for the property sector to take on investment opportunities established by the project
Speaking at UKREiiF, Wild discussed how the new railway is bringing opportunities for growth in the corridor being created between London and Birmingham.
Arcadis research shows that HS2 is bringing a boost of roughly £20bn in total to the surrounding areas in Birmingham, Solihull, and West London, making further project investment an attractive prospect.
HS2 project investment is already paying off
Washwoof Heath, in the Birmingham suburbs, has attracted a lot of investment due to the HS2 Network Integrated Control Centre (NICC) and maintenance depot.
The West Midlands has already seen 41,000 homes, 30,835 jobs, and 704,000 square metres of commercial floor space built around Curzon Street Station, Interchange Station, and the NICC.
In West London, the new HS2 station has 14 platforms and Old Oak Common Station will sit at 1.5 miles. The project will be responsible for 22,000 himes, 693,000 square metres of commercial floorspace, and 18,782 jobs.
Speaking at UKREiiF in Leeds, Mark Wild said: “The scale of investment and regeneration since HS2 received Royal Assent less than a decade ago is staggering, but the 140-mile route linking London to Birmingham is still ripe with opportunities, far beyond the £20bn boost we’re already seeing, and that’s why I’m here at UKREiiF.
“HS2’s success and legacy relies on the investors and developers sitting in front of me today, and my message to them is simple – ‘Let’s deliver growth together’.”
Several projects underline Mark’s point
Some projects and their leaders joined Mark on stage to demonstrate his point and discuss their vision for their projects.
Tom Wagner, owner of Birmingham City Football Club and co-founder of Knighthead Capital Management, discussed plans for a Sports Quarter in East Birmingham, including a 60,000-seat stadium, a sports campus with training facilities, an academy, community pitches, and leisure, commercial, and residential developments. Expected to be worth £3bn and create 8,500 jobs.
Alice Sewell, investment director at Imperial College London, spoke about the university’s development plan for One Portal Way, one of the sites acquired near Old Oak Common Station to create 1,300 new homes and an innovation ecosystem for the West Tech Corridor.
Craig Carson, managing director of Barratt West London, discussed plans for a new town centre for Park Royal, bringing a new Asda superstore, 1,500 new sustainable homes, and a car-free design, located near Old Oak Common Station, and the Elizabeth and Central lines.
Katie Trout, deputy chief executive of the West Midlands Growth Company, mentioned the company’s intent to connect private investors and developers to UK regeneration schemes, as the Growth Company showcases over £20bn of investment opportunities, including ones near HS2 infrastructure.
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