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Work has started on Ventureast, the £45million, 16 acre development in Eastside set to  create 5,000 jobs.  Bulldozers are already clearing the site in preparation for the scheme.

Arlington Securities, one of Europe's leading investment management and property development businesses, are the developer partner for Ventureast.

The 16 acre (6.25 hectares) site has been put together as part of a unique £57.3m joint venture between the City Council and regional development agency Advantage West Midlands (AWM), signed in March 2006.  The aim is to bring forward a 1 million sq ft high quality, sustainable mixed-use scheme which will boost the regeneration of Eastside and create 5,000 jobs.

Arlington Securities is one of Europe's leading investment management and property development businesses operating across the United Kingdom, Europe and wider international markets.  Arlington has an impressive track record of developing high quality, brownfield, mixed use regeneration projects in the UK through its £1.8bn UK fund, Arlington Business Parks Partnership.  Key schemes include Hatfield Business Park in the East of England, and Oxford Business Park, at which its scheme for Oxfam won an industry award last year. The company is part of Macquarie Goodman Group, an Australian listed globally integrated property group.

Jim Johnston, head of Arlington’s UK development team said, “We are delighted to be appointed to work in partnership with Birmingham City Council and AWM on this important brownfield regeneration scheme.  Arlington has been looking to evolve its business space offering into a more urban and vibrant mixed use context and Ventureast represents an exciting opportunity to do so. 

"We look forward to delivering a sustainable mixed community that will integrate with the wider regeneration of Eastside, boost the local economy and provide an environment for growth.”

The City Council and AWM have worked together to assemble the Ventureast site, expanding the city core.  The site is adjacent to Millennium Point, with extensive frontage onto the canal, the new City Park and the ring road. 

The proposed mixed-use scheme will anchor the proposed Learning and Leisure Quarter and the City Park, also aiding the integration of Millennium Point as part of the city centre. 

The City Council has been working with AWM and appointed agents GVA Grimley to attract a development partner for Ventureast, which is planned to be on the same scale as the successful Masshouse and City Park Gate schemes. 

Cabinet Member for Regeneration Councillor Ken Hardeman said:
“Appointing a developer partner for Ventureast is another major step forward for Eastside and for the city.  I am sure that Arlington will deliver a scheme which will meet all our aspirations in terms of quality, job creation and sustainability.  Working in such a positive way with AWM to progress a further major stage of development to add to Masshouse, City Park Gate and other new city centre projects has increased the momentum and given the market yet more confidence that Eastside continues to be a fantastic development opportunity.”

Mick Laverty, Deputy Chief Executive of Advantage West Midlands said:
“A great deal of work has gone into the preparation of the Ventureast opportunity.  Advantage West Midlands and the East Birmingham North Solihull Regeneration Zone is committed to working towards a world-class development at Eastside which will an extension to Birmingham’s thriving city centre and create employment.  Arlington offered a scheme which met our requirements for this important site, and we are very pleased to be working with them.”