News / Bristol Metro
Bristol: for sale
Bristol mayor Marvin Rees went cap in hand to Malaysia and China earlier this month hoping to drum up investment in Bristol.
And now Bristol24/7 can reveal what he is hoping to sell.
First on the shopping list is the ‘Western Harbour’, otherwise known as the Cumberland Basin, which a document produced by Bristol City Council claims “is one of the most desirable development locations in the UK”.
is needed now More than ever
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Future plans include the removal of the current road system and replacement “with less high impact options”, which will free up 15 to 20 hectares of developable land on which can be builot 3,500 homes, plus commercial and leisure space.
The glossy brochure that Rees took east estimates that the residential elements of the Western Harbour plans alone have a gross development value of more than £1bn.
The boundaries of the ‘Western Harbour’
But even this eye-watering figure is small in comparison to Rees’ grand plans for a Bristol Metro, which has an initial cost estimate of between £2.5 to 4.5bn, with £1.5 to £2bn sought from a private sector funding partner.
The system is planned to be both above and below ground and be between 40 to 45km in length.
“Bristol City Council willing to enter agreement with investors to guarantee market demand” says the glossy brochure, which adds: “Possibility of co-investment in factory site and development of appropriate skills for workforce”.
So who will fund this? The answer might come from who Rees spoke to on his recent trip to China and Malaysia (below).
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While in China, Rees met the mayor of Guangzhou, Wen Guo Hui, and departments including the commission of commerce and foreign affairs. He also met representatives from the British Consulate and Department for International Trade and CEOs from large US and Chinese companies
In Malaysia, Rees met the British High Commission, the mayor of Kuala Lumpur, Tan Sri Amin Nordin, and the company YTL which already owns the former Filton airfield.
Other investment opportunities that Rees was touting include the Bristol Temple Quarter City District, which will see 11,000 new homes and 22,000 new jobs by 2042, a new University of Bristol campus focused on digital innovation and up to 22m rail passengers per year by 2030 doubling the current capacity at Temple Meads.
But in a significant omission, no mention is made of the future Bristol Arena due to be built here. It was even conveniently missed off the artist’s impressions in the brochure:
There is the bridge to Arena Island but where is the arena?
Elsewhere, the private rented sector and student housing are both touted as being ripe for growth; with further investment opportunities in Bristol Is Open and Low Carbon Bristol.
Writing to potential investors, Rees said: “I am working with partners across the city and we are ambitious about what we can achieve and want to ensure that all our citizens can benefit.
“This package of investment projects will play a critical part in helping us deliver against these aims.
“I am eager to develop firm and long lasting investment partnerships with you that deliver for the people of Bristol and look forward to beginning discussions with you.”
The Cumberland Basin today
Read more: 14 ambitious transport plans for Bristol
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