Lendlease’s £1.9 billion Smithfield Birmingham project has been approved by the city council’s planning committee.
The scheme aims to build more than 3,000 homes in Birmingham city centre, in partnership with Birmingham City Council.
The regeneration project will transform the 17-hectare site around the city’s former Bullring Markets, with work set to begin later this year.
Colin Murphy, project lead on Smithfield Birmingham for Lendlease, said: “Obtaining planning approval is a significant step in delivering the Council’s ambitions for Smithfield Birmingham in partnership with Lendlease.
“This development will transform the area, creating a new community in the heart of our city, generating thousands of new jobs and training opportunities, and new homes.
“We are delighted to see these exciting proposals moving forward.”
The project is set to include:
- A new retail market
- Family leisure spaces, hotels, music and cultural venues
- Approximately 3,000 homes
- One million sq. ft of office space
- Public transportation
Murphy added: “This is a major milestone for the Smithfield project and an important step forward in Birmingham’s transformation as an international city.
“We look forward to continuing our engagement with tenants, residents, and everyone else connected to this once in a generation opportunity.”
The project is set to take place in four phases, creating a new city centre in the area over 15 years.
Several high-profile architects are working on the project, including Haworth Tompkins, dRMM, Intervention Architecture, Minesh Patel Architects and RCKa with James Corner Field Operations designing the public realm and landscape, according to Building Design.
AECOM will serve as quantity surveyors for the project, DP9 as planning consultant and Turner & Townsend as principal advisor to Lendlease. Also on the project team is structural engineer, Arup, transport and civil engineer, WSP and heritage consultant, Montagu Evans, BD reports.
Lendlease Group has announced plans to withdraw from the UK and sell its construction businesses, as part of a major restructure to focus instead on the Australian market.
Group CEO, Tony Lombardo, said by exiting international construction and early release of its development assets, the New South Wales-headquartered construction company could generate AD$4.5 billion (£2.3 billion) of capital, with AD$2.8 billion (£1.46 billion) anticipated by the end of FY2025.
The move, which follows several years of seeing its stock price tumble, means Lendlease could offload its UK construction business within 18 months, as plans to sell off its US operation are already well advanced, impacting around 1,400 jobs.
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