As of 1st April 2018 Frontier Development Capital, an appointed representative of Finance Birmingham Limited, has been introducing investments to the fund.
Supporting the West Midlands long term growth and stability
The Brownfield Land & Property Development Fund (BLPDF) enables the unlocking of sites, remediates the industrial legacy and brings forward investable propositions.
Created by the West Midlands Combined Authority (WMCA) the fund is deployed though a grant/gap funding with commercial investment potentially provided through the Collective Investment Fund (CIF). There is also a sub-fund open to housing projects within the Telford and Wrekin area.
Sub-Fund for Telford and Wrekin Council - remediation for unlocking housing - here.
- To regenerate brownfield sites across the WMCA’s geography which extends Greater Birmingham and Solihull, the Black Country, Coventry and Warwickshire.
- Eligible projects include: commercial, industrial, offices, residential, retail and leisure.
- Interests in bringing employment to the region, accelerating site regeneration and supporting strong cities and diverse town centres.
- Investments starting from £500k to a maximum £5m.
- Known or referenced developers with a successful and proven track record of delivering regeneration projects.
- Strategic brownfield regeneration sites that are unlikely to be redeveloped in the short term via normal capital markets.
- Sectors – commercial, industrial, offices, residential, retail and leisure.
- Amount – Minimum £500k. Maximum investment 10% of the Fund (Funding quantum will not by itself preclude investment).
- Funding will typically be via grant or gap funding however other instruments may be used where developer super profit anticipated. Security will be taken where feasible.
- Maximum repayment term (if applicable) – 10 years.