Eastside Locks, a multimillion-pound canal side regeneration project in the heart of Birmingham, was showcased recently at MIPIM in Cannes.

The 13-acre scheme will provide 1.25m sq ft of space for business, living and leisure, including 800,000 sq ft of prime grade A office accommodation and will transform part of the city into a Business and Innovation Hub.

The site, which is within the Birmingham City Centre Enterprise Zone, will enable businesses to benefit from the increasing connectivity of Birmingham, reduced business rates and access to high quality graduates.

James Raven, Development Director at Goodman, said: "Birmingham is the ideal place for connecting university talent with both the booming start-up scene and with the larger businesses that are looking to escape the rising costs of London. Combine this with record levels of tourism and the top ranking UK regional city for quality of life, and you have a destination that people want to live, work and invest in.

"As a developer it's a very exciting time for us as Eastside Locks takes shape. Our first phase is due to complete in May and our second phase is scheduled to begin on site later this year. Aided by the future arrival of HS2 and the work of key partners, we will unlock the potential for Eastside Locks to become a truly electrifying Business and Innovation hub."

Part of the development will see developer Goodman bring a fire damaged and locally listed former cycle factory back to life, retaining its red brick façade and heritage alongside brand new buildings.