Work on the new has begun - bringing major city centre regeneration a step closer.
Clearance work on the 18-acre site at The Hub in Witton is now under way and the project is expected to be finished by the end of 2016.
The scheme will include a bespoke 241,885 sq ft facility which can house more than 78 traders and all on-site facilities.
paving the way for the relocation of the markets - the largest combined wholesale food market in the º£½ÇÊÓƵ - from its existing home on Pershore Street in the city centre.
The move will open the way for the £500 million regeneration on its old site as it is transformed into a new leisure quarter.
Richard Lawrence, a spokesman for developer IM Properties, said: "The completion of this agreement with Birmingham City Council means that we are now able to progress with the delivery of a truly bespoke and fit-for-purpose new home for the Wholesale Markets.
"With work due to begin shortly, this will be a significant development for IM Properties and we are looking forward to working with the council on the delivery of this prestigious scheme."
The new Witton proposals will see a giant market shed created, along with sprinkler tents, a pump house and a 450-space car park.
But the city council sees a greater opportunity on the land where the wholesale markets currently sits, with 34 acres opened up for regeneration.
The Post understands in funding the scheme - although work cannot begin until the markets are moved.
Ian Ward, deputy leader of Birmingham City Council, said the location and transport links that The Hub offered represented a "new chapter for the Wholesale Markets".
He added: "By securing this new scheme we are able to clear the way for Smithfield, which represents another phase in the ongoing transformation of Birmingham and the creation of a truly contemporary, 21st century metropolitan environment."
The council launched its
It wants the 34-acre site to encourage more families into the city centre, with plans for museums, cinemas, art galleries and music venues to be created on the run-down area bordering the Bullring.
The site will deliver more than one million sq ft of floorspace, 1,000 new homes and 3,000 new jobs, adding £470 million a year to the local economy and attract millions more visitors to the region, according to the council.
