The University of Warwick has announced a partnership agreement to create a new medical and technology campus as part of the £3.2billion Arden Cross development in Birmingham.

The university announced today that it has signed a memorandum of understanding (MOU) with Arden Cross Ltd (ACL) and University Hospitals Birmingham (UHB) as the first step in delivering "world-beating innovation in healthcare".

ACL was formed by landowners Birmingham City Council, Packington Estate and Coleshill Estate to deliver the 346 acre mixed development near Birmingham Airport.

The site will eventually create up to 27,000 new jobs, 3,000 new homes and up to six million sq ft of new commercial and employment space.

The first phase of the new campus could begin as early as 2024 and will see a range of facilities and employment opportunities created.

The University of Warwick has signed an MOA with Arden Cross ltd and University Hospitals Birmingham (Image via University of Warwick)

Andy Street, Mayor of the West Midlands, said: "With more than £800 million of investment already committed to the Arden Cross site, there is a great deal of local, national and international interest in how we might best unlock the huge potential of this scheme given its unrivalled global connectivity thanks to its superb location in close proximity to the existing airport and train station as well as the forthcoming HS2 Interchange.

"We are making good progress on shaping the Arden Cross vision and one of the elements that will make it a world class project is the health and innovation uses we have in mind for the site.

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"Building upon our existing strengths, a MedTech Centre of Excellence in this key location has the power to drive the UK's digital health agenda, bolster the West Midlands economy and revolutionise healthcare for the better.

"As we work together to bring Arden Cross to life, this landmark project is a prime example of Levelling Up in action – bringing tangible benefits to local residents."

UHB is the largest NHS Trust in England and runs four major general hospitals in the West Midlands as well as a number of regional specialist centres.

Wider partners in the development also include HS2, Department for Transport, Solihull Metropolitan Borough Council and the Urban Growth Company.

At the centre of Arden Cross will be the new HS2 Interchange station which is expected to create 1,000 jobs alone.

The station, near Birmingham Airport, is expected to be completed by 2027 (image via Solihull Metropolitan Borough Council)

Stuart Croft, vice chancellor and president at the University of Warwick, said: "Arden Cross represents an opportunity for the West Midlands, and the UK, to take the global lead in delivering the next frontier of healthcare.

"The University of Warwick will bring world-beating research and innovation and our experience of leveraging private sector funding and engagement to deliver our vision.

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"Our goal is to create a thriving and energetic hub where public, private, and academic excellence can meet the challenges ahead of us."