Plans to regenerate the Smithfield site in Birmingham city centre have taken another step forward with the appointment of an agency to find a development partner and create a masterplan.
Birmingham City Council has appointed Cushman & Wakefield to the project which will see the 34-acre plot turned
The site off Upper Dean Street, close to the Bullring ring shopping centre, is home to Birmingham Wholesale Markets but this is due to relocate to a new,
The overarching vision for Birmingham Smithfield is for a landmark, sustainable, mixed-use development including a market, independent retailers, restaurants, hotels, public square and residential accommodation.
Cushman & Wakefield will be working to evolve the masterplan with Birmingham City Council and launching the search for a delivery partner.
Designated an enterprise zone in 2012, the regeneration of the site will act as a catalyst for the transformation of Birmingham's wider Southern Gateway area.
Development of the site is expected to deliver more than 3.2 million sq ft of new floor space, 2,000 new homes and 3,000 new jobs and an investment value of over £500 million.
David Tonks, head of Cushman & Wakefield's Birmingham office, said: "The Smithfield market site is one of the key regeneration opportunities in Europe and a rare chance to rejuvenate 34 acres of land within the heart of the city centre.
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"The site is well placed to capitalise on the rich history of the area with close proximity to the city's world class retail offer, the creative and knowledge hub and the future High Speed 2 terminus.
"This is an exciting time for Birmingham which is currently experiencing an unprecedented period of change as billions of pounds of investment transforms the city's economy.
"We are thrilled to be a part of this project which will drive the continued evolution of the city."
Coun John Clancy, leader of Birmingham City Council, added: "Smithfield is without doubt one of the most exciting regeneration opportunities in Birmingham for years and will turn the area currently occupied by the wholesale markets into an exciting and vibrant addition to the city centre.
"Crucially, Smithfield will deliver jobs, homes and modern public spaces and play a crucial part in the ongoing transformation of the Southern Gateway area."