HS2 boss issues rallying cry to investors and developers
HS2 Ltd chief executive Mark Wild has issued a rallying cry to the property sector to capitalise on the huge investment opportunities being generated by the project.
Speaking at the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF), Mark Wild (pictured) outlined how Britain’s new high-speed railway is already creating a new corridor of growth between London and the West Midlands.
Economic research, conducted by Arcadis, shows that HS2 is spearheading a £20bn boost in the areas surrounding its new station sites in Birmingham, Solihull and West London.
The northeast Birmingham suburb of Washwood Heath has also become a magnet for investors, eager to capitalise on the location of the project’s new Network Integrated Control Centre and maintenance depot.
In the West Midlands, HS2 is the driving force behind plans for 41,000 homes, 30,835 new jobs and 704,000 square metres of commercial floorspace near to its three key sites – Curzon Street Station, Interchange Station and the Network Integrated Control Centre, the research said.
Meanwhile, a new development hotspot is emerging in West London, propelled by HS2’s new 14-platform superhub station.
Within 1.5 miles of Old Oak Common Station, HS2 will be responsible for generating over 22,00 homes, 693,000 square metres of commercial floorspace, and 18,782 jobs, the Arcadis research found.
Speaking at the event at the Royal Armouries 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’.”
Once operational, HS2 will significantly improve journeys, almost halving travel times between Britain’s two largest cities while relieving pressure on the most congested southern end of the West Coast Main Line – creating more space for local, regional and freight services.
Despite recent progress, HS2 is currently undergoing a fundamental reset to make sure the railway can be delivered efficiently and for the lowest feasible cost.
Influential figureheads from the urban regeneration, investment, and property development sectors, who have already seized upon HS2’s arrival, joined Mark Wild on stage.
Tom Wagner, co-founder of Knighthead Capital Management and owner of Birmingham City Football Club, outlined his vision for a new £3bn Sports Quarter in East Birmingham.
Enhanced transport connectivity is at the heart of his plans for a new 60,000-seater stadium, sports campus of training facilities, a new academy, community pitches as well as leisure, commercial and residential development – creating around 8,500 jobs.
Alice Sewell, investment director at Imperial College London, spoke on behalf of the university and set out its ambitious development plans.
One Portal Way is one of four sites the university has acquired close to HS2’s Old Oak Common Station as part of its drive to create 1,300 new homes, expand the innovation ecosystem offer and the West Tech Corridor.
Craig Carson, managing director, Barratt West London is spearheading plans to create a new town centre for Park Royal, with a brand-new Asda superstore and over 1,500 new homes.
As a car-free residential development, Old Oak Common’s 14-platform station, with HS2, the Elizabeth line, central line and overground services, is pivotal to its plans.
Katie Trout, deputy chief executive at West Midlands Growth Company is connecting private sector investors and developers to some the UK’s most significant regeneration schemes.
At UKREiiF, the West Midlands will showcase more than £20bn of major investment opportunities, including Smithfield Birmingham – which sits adjacent to HS2’s new Curzon Street terminus.