Funding agreed for Birmingham Smithfield scheme

Grant funding of £172.8 million has been allocated to the Birmingham Smithfield project, making the £1.9 billion development financially viable.

The Enterprise Zone Partnership Board and Birmingham City Council’s Cabinet have agreed the Outline Business Case and Enterprise Zone Funding for Smithfield Birmingham.

Colin Murphy, Portfolio Development Director & Project Lead Smithfield (Birmingham) at Lendlease, said: “This funding brings added momentum for the next phase of Smithfield and the long-term regeneration of Birmingham city centre. It’s a vote of confidence in the city’s future and a clear signal that delivery of this once in a generation scheme is on its way.”

Lendlease says of the project: “It is key to unlocking the potential and growth of the city and for the long-term economic and social prosperity for the region. The project is intended to maximise opportunities for Birmingham residents to experience good work opportunities, with potential for up to 8,000 new jobs through-out the development phase and in operation.”

The first Full Business Case that will release part of the allocated funding is expected to be submitted for approval early in 2026. In the meantime, Lendlease will continue the detailed design of the first phase including the new markets, first residential and workplace buildings and the new areas of public realm Manor Square and Market Square.

Deputy Leader and Cabinet Member for Economy and Skills, Cllr Sharon Thompson, said: “This development will transform the area, creating a vibrant landmark in the heart of Birmingham—that will elevate the city's economic growth and enhance its international reputation. Smithfield is the largest single city centre development site in the UK and is a key strand of our plans to transform the city centre.

Lendlease will also discharge planning pre-commencement conditions, undertake site surveys and finalise the site set up plans. Birmingham City Council will ensure that its Joint Venture Agreement with Lendlease for Smithfield Birmingham enables Lendlease’s new Joint Venture Partner, The Crown Estate, to formally participate in the scheme.

Cllr Thompson added: "Approval of this grant funding is a significant milestone that will kick start the delivery of 3,000 homes for Birmingham, create 9,000 jobs, and will make Birmingham's city centre an even more exciting and lively place for people to live and work."

Construction is expected to commence on site in early 2026 and the delivery will be completed in four phases over 10 years. The project aims to provide all retail and office space to BREEAM standards.