Harris Lamb Blog – Foreign Investment
6th July, 2011.
Will a vision for greater long term foreign investment in the Midlands come to fruition?
By Bruce Fenley, Director.
Over the last few months there have been a few news items concerning both calls for more foreign investment and rumours that we may see some announcements of foreign investment from outside the usual investors of North America and Europe. There may be some real opportunities in the near future for some significant property development and economic stimulus.
The leader of Birmingham City Council, Mike Whitby, spoke at MIPIM in March this year about finding strategies for UK regions to secure investment and funding to grow. He cited the world first “memorandum of understanding” that Birmingham signed with Abu Dhabi to leverage finance.
The links from the Midlands to Indian Investment principally from Tata via their Jaguar Land Rover and Corus operations are already reaping rewards and benefits across the Midlands.
This week we also saw the announcement that an Anglo-Chinese consortium could be formed to redevelop the former Austin Rover site at Longbridge in the West Midlands, according to business secretary Vince Cable. Speaking at a local business event in Birmingham subsequent to a visit by China’s Premiere Wen Jiabao to the Shanghai Automotive Industry Corporation-owned MG plant, Cable said the Chinese delegation had been impressed with the regeneration taking place in the city and that a discussion had taken place about British and Chinese businesses coming together to further regenerate the area around Longbridge.
As the UK takes on a hopefully increasing role in the manufacturing and business finance sectors as part of our economic recovery then tapping into substantial sources of foreign investment will hopefully be a major driver. The potential to build on the success of projects with JLR and their new engine plant looking likely to go to Wolverhampton will be vital.
The implications for property with what can be delivered from large scale investment means we need to be aware of the opportunities for world class involvement and investment locally.
For advice and assistance on all aspects of Commercial Property, Mathew would be happy to help. He can be reached on 0121 455 9455 or via email: firstname.lastname@example.org.
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