Sector Focus


Local businesses UK’s most secure


West Midlands manufacturing and construction businesses have been given a welcome boost – as new research reveals that they are among the most financially secure of their UK regional counterparts. Figures compiled by insolvency


and restructuring body R3’s Midlands branch show that fewer than one in five (19.6 per cent) manufacturing businesses in the region are at higher than normal risk of insolvency, a figure bettered only by Yorkshire and Northern Ireland. The West Midlands construction


sector is also amongst the UK’s top regional performers, with fewer than one in four (24.3 per cent) businesses operating with an above average risk of insolvency. In contrast, the news is less


positive for the regional tourism sector. Around one in three firms (32.1 per cent) are at higher than normal risk of insolvency, which is four points above the UK average of 28.1 per cent.


Fund backing factory’s rebirth


A West Midlands Combined Authority (WMCA) investment fund is backing the £5.5 million rebirth of a landmark former Birmingham factory site. The Combined Investment Fund


(CIF) has provided £2.9m of loan funding to Barberry Developments to assist with the development of an industrial unit on the old Tuckers Fastenings site in Perry Barr. Barberry has purchased the site,


with construction expected to complete later this year. Cllr Izzi Seccombe, leader of


Warwickshire County Council and WMCA portfolio holder for finance and investments, said: “Projects such as this are why the CIF was established, to help create the right conditions for industry and the jobs key to ensuring a prosperous future for the West Midlands.”


Greenfield development: A computer generated image of what the scheme will look like


Peddimore will bring more skilled workers to region


Plans for one of the country’s biggest industrial developments, creating 10,000 jobs in Birmingham, have been unveiled. Peddimore, in the north east of Birmingham, is expected to make a £350 million contribution to the local economy. At 71ha and with the potential to


accommodate around 265,000 sqm of new industrial floorspace, the site is one of the most significant industrial opportunities in the UK. Birmingham City Council is launching a Visioning Document for Peddimore to potential investors at global real estate show MIPIM, to create a brand new strategic employment site for the city and region. The Visioning Document sets out


the development principles that can deliver this major industrial scheme, accommodating the needs of a range of industrial occupiers. Councillor John Clancy, leader of Birmingham City Council, said: “This is a fantastic opportunity to


‘We’re confident that this scheme will attract even more world-class businesses to the region their career’


bring thousands of skilled jobs to the area on the edge of our great city with enviable transport links. “We’re confident that this


scheme will attract even more world-class businesses to the region, and I believe that presenting this Visioning Document at MIPIM will be the first step toward delivering a true legacy in the local area.” Located less than 5km from


Sutton Coldfield town centre, Peddimore forms part of the main industrial corridor in Birmingham, which is already home to the likes of Jaguar Land Rover. The greenfield site’s scale, proximity to transport networks and major


conurbations, and availability of skilled local labour is expected to appeal to all sectors of the occupational market. The positioning of the site on the


fringes of the much favoured ‘Golden Triangle’ of local motorways is also anticipated to attract significant interest from national and international companies. The site is one of the best


connected industrial hubs in the UK, with key roads such as the M1, M5, M6, M6 Toll, M42 and M69 all within 30 minutes. New public transport routes, including ‘Sprint’ – the bus based rapid transit system – will provide links between Peddimore and Birmingham city centre, which will include the new Birmingham Curzon HS2 station. Routes will also extend to the


HS2 Interchange station in Solihull and Birmingham Airport, connecting Peddimore on a national and international scale.


Property


52 CHAMBERLINK April 2017


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