Sponsors put more cash towards Birmingham City Council's trip to MIPIM
Developers are putting the recession behind them by stumping up a far higher proportion of the cash needed to enable Birmingham City Council to continue its £250,000 presence at the MIPIM property conference in the south of France.
Private sector sponsorship for next month’s glitzy six-day bash at Cannes has risen from £81,600 last year to £124,000 for 2010. The immediate impact of such generosity during a difficult economic climate is to sharply reduce the cost to taxpayers of Birmingham’s stand at MIPIM.
It is also apparent that some contributors have good reason to keep the council on-side.
The identity of individual sponsors is not being revealed, but the Post understands that developers behind some of the biggest regeneration schemes in the city including Amey, Argent and the Birmingham Development Company are contributing in packages ranging from £5,000 to £15,000.
Other firms, including KPMG and Jaguar, are providing “in kind” assistance.
Argent hopes within the next year or so to land a lucrative contract to redevelop the huge Paradise Circus site in the city centre.
The firm has an exclusivity agreement to work with the council in a joint venture said to be worth £600 million.
Birmingham Development Company, led by Alan Chatham, the entrepreneur responsible for the Mailbox and the Cube, is looking to push forward with a major redevelopment of the former Birmingham Post and Mail building on Colmore Circus.
A 500,000 sq ft building providing a mix of innovative retail, restaurant, leisure, hotel and office uses, together with car parking is proposed, although planning permission is yet to be granted.
Kuwaiti developer Salhia Investments, behind the £170 million Beorma Quarter development proposed for Digbeth, is also understood to have contributed along with developers responsible for the planned Arena Central scheme off Broad Street.
In another efficiency move, council leaders have managed to persuade the public sector in the West Midlands to contribute to Birmingham’s overheads.
The City Region board has agreed to give £60,000 towards the £254,500 cost of the 2010 council stand at MIPIM.
It means that the cost of MIPIM to the city council will be no more than £65,000 this year, compared to £175,123 last year.
Assistant director of investment, enterprise and employment at the council, Jack Glonek, said Birmingham’s continued presence at Cannes would boost confidence in the city during difficult times.