A new study shows that the High Speed 2 (HS2) project is set to catalyze significant economic regeneration in the West Midlands, predicting a £10 billion boost over the next decade. The surge in investor confidence and subsequent regeneration is concentrated around three key HS2 hubs: Curzon Street station in Birmingham, Interchange station in Solihull, and the Washwood Heath depot and network integrated control center.
Since receiving Royal Assent in 2017, areas within a 1.5-mile radius of these hubs have seen a remarkable increase in development activity. Planning applications have increased by two-thirds, while the scope for both residential and commercial space has increased dramatically. The number of planned homes has almost quintupled, signaling a robust response to the anticipated arrival of HS2.
This growth outstrips development activity outside the HS2 impact zones, demonstrating the central role of the high-speed rail project in shaping the regional economic landscape. Construction value within these zones has soared by 240% since 2017, in contrast to a 16% decline in construction value outside these areas. This trend highlights the transformative potential of HS2 for local economies. As construction progresses, HS2 continues to work closely with local partners to ensure the project's benefits go beyond transport and support wider ambitions for community development, innovation, and growth.
“There’s no doubt that the arrival of HS2 is having a significant influence on the increase in large-scale commercial and residential development investment, bringing high quality commercial, residential and leisure facilities to the city,” said Ross Fittall, Commercial Director at MEPC - the firm leading Birmingham’s Paradise redevelopment.
