My City Birmingham

A REPURPOSING REVOLUTION IS REQUIRED TO FACILITATE THE RE-USE OF ASSETS IN THE ‘GREY’ SPACES CREATED BY THE CITY CENTRE’S CONSOLIDATION. 01 Many commercial buildings in the city centre, particularly office and retail assets, are at risk of becoming obsolete due to the combination of changing occupier requirements and energy performance standards. Landlords need to meet the challenges of retrofitting buildings to meet required standards and to manage assets effectively to protect values. A progressive and sympathetic planning approach is required, coupled with public sector funding support as part of the Levelling-Up agenda. WHAT DO OUR PREDICTIONS MEAN FOR REAL ESTATE IN BIRMINGHAM? HOW SHOULD THOSE IN THE PROPERTY SECTOR REACT TO THE OPPORTUNITIES AND CHALLENGES PRESENTED BY THIS VISION?

02 NEW OPPORTUNITIES FOR DENSIFICATION AND THE REDEVELOPMENT OF SMITHFIELD SHOULD BE EXPLOITED TO RESHAPE THE CITY CENTRE, DOING SO IN A WAY THAT MEETS THE CHALLENGES ASSOCIATED WITH ACHIEVING NET ZERO. Forthcoming developments will drive a gravitational shift in the direction of the city centre from north to south and thus investors, developers and existing landowners should be aware of opportunities to intensify and redevelop sites, particularly low-density commercial uses which might be capable of being redeveloped for a high-density mix of uses. The potential of multifamily living in socially diverse communities alongside opportunities in our educational & medical sectors can build on the regeneration of the south side of the city. New assets being developed today need to be future-proofed to meet aspirations for net-zero carbon and to reflect the changing demands from occupiers in the long term. How can this be done? How should developers of the major sites take into consideration mega trends to protect long term asset value?

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