2022 Games in Brum will bring wealth of benefits
ONE of the less talked about benefits of Birmingham hosting the 2022 Commonwealth Games is the potential impact on the commercial property market around such venues as the NEC, NIA, Arena Birmingham and Symphony Hall.
With grade A office space in the city centre already in short supply, substantial improvements to existing buildings and construction of new facilities will drive demand and improvements for the available office and commercial space in these areas.
With the related infrastructure improvements, this should be true for the areas around the venues as well as the wider Midlands.
It will help ensure we enjoy a fantastic celebration of sports while also ensuring longer-term benefits for the Midlands.
Landmark sporting events rightly strive to provide lasting health and social benefits.
As a keen cyclist and triathlon coach, I appreciate those perhaps more than some, but such events can also be the catalyst for wider regeneration which can lead to long-term economic improvements.
Having been involved in the regeneration of Stratford City for the London Olympics, I have seen first hand how this showcased the capital, and we should embrace the opportunity to promote Birmingham and its many unique and diverse qualities in the same way.
The Games are a fantastic opportunity to provide a legacy that will generate jobs, supply, leisure and related opportunities across the Midlands for years to come.
This can only serve to build on the many successful regeneration schemes in our region over recent years, such as the town centre improvements in Coventry city centre, another scheme which I was privileged to be involved in and which has helped to enliven a previously unloved area.
Investors will no doubt be keeping a close eye on properties in the areas most closely associated with the 2022 Games venues. Robin Canning is a commercial
property solicitor in the Birmingham office specialising in acquisitions, development work and in acting for landlords and tenants.