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Birmingham City Council has unveiled plans to redevelop a 14-hectare city-fringe site with a new family leisure quarter including new markets and housing.

It used this year鈥檚 Mipim property fair in Cannes to launch the proposals, which centre on the current Wholesale Markets area, to the south of the city centre.

Council leader Sir Albert Bore said the redevelopment, dubbed 鈥淏irmingham Smithfield鈥�, was expected to create over 100,000m² of new floorspace, 1,000 new homes and 3,000 new jobs, adding 拢470m Gross Value Added to the local economy and attracting millions more visitors to Birmingham.

鈥淭he 拢600 million redevelopment of New Street Station will complete this year, while the transformation of its retail scene 鈥� which includes the Mailbox, Grand Central, Selfridges and John Lewis 鈥� will drastically improve what the city has to offer,鈥� he said.

鈥淏irmingham Smithfield presents a once in a generation opportunity to build upon our recent successes and deliver a truly unique asset for the city. Our plans will create a vibrant new destination 鈥� adding to the city鈥檚 reputation as a top visitor destination and a great place to live and do business.鈥�

City council director of planning and regeneration Waheed Nazir said Birmingham Smithfield would have a transformational impact on the area鈥檚 unique heritage and focus for markets.

鈥淚t will radically enhance the city鈥檚 retail, visitor and residential offer, as well as unlocking the growth potential of a much wider area,鈥� he said.

鈥淏y showcasing the scheme at Mipim, we are directly targeting potential investors and developers to secure interest from across the globe.鈥� 

The city council is due to launch an eight-week consultation on its Smithfield proposals next week.