Solihull Council winds up urban growth company

Solihull Metropolitan Borough Council is closing the Solihull Urban Growth Company, a special purpose vehicle that was established in 2016, and bringing its UK Central Hub portfolio in-house. The UGC’s main aim has been to unlock the potential of the UK Central Hub, a collection of sites around Solihull, including Arden Cross, which was to be the site of the HS2 interchange. During its seven years of activity, the UGC has brought together key stakeholders and partners to bring forward plans for Arden Cross, has negotiated a 65% reduction in car parking spaces around the HS2 interchange from 7,500 to 2,750, freeing up land for housebuilding and other development, and secured a value capture agreement for landowners at Arden Cross. The group said that through its work the UK Central Hub was now seen as a “national-level opportunity to attract footloose investors”. UGC chairman Nick Brown said: “Thanks to the work of the Urban Growth Company we are now in a much better position to create the vision originally envisaged by the leaders of Solihull Council. That was to provide a place of economic growth and vitality in the UK Central Hub area. What is now being planned is a much more sustainable and deliverable development and very different from the parkway-type station that was originally planned by HS2 Ltd.” Managing director Jonathan Bretherton added: “The legacy of the UGC will be twofold. First, we have built in sufficient capacity, flexibility and resilience around the hub area to enable future growth and, secondly, we have done that in a way that creates great places. There is no doubt the placemaking opportunities going forward have been transformed by UGC’s role over the last seven years.” UGC has been supported by Solihull Metropolitan Borough Council and the West Midlands Combined Authority. To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews Image from PLMR