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Birmingham regeneration project saved by LEP funding

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  • by Colin Marrs
  • in 151 News · Development
  • — 17 Jan, 2019

The Greater Birmingham and Solihull Local Enterprise Partnership has provisionally agreed to bail out the troubled  £700m Paradise Birmingham regeneration scheme.

Before Christmas, it was reported that the scheme was short of £50m due to spiralling costs.

A statement from the LEP said: “After a thorough due diligence process, the GBSLEP board has provisionally approved additional funding for Paradise worth £51m.

‘This decision is subject to the formal governance process being completed in early 2019.’

The project includes 10 new office buildings, a hotel, public spaces and 550 car parking bays between Centenary Square and Victoria Square, as well as shops, restaurants and cafes.

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