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Property companies have unveiled plans for a £750 million (€950 million) regeneration scheme at the Longbridge site in Birmingham, UK, where MG Rover cars were made.

The plans envisage a new town centre and up to 2,000 houses on the site, most of which has now been cleared. A local further education college would also move to the site and there would be parks and leisure facilities too.

The property development plans are alongside the plans by Nanjing Automotive to resume production of the MG TF sportscar at Longbridge later this year. Nanjing said last week that production was on schedule to resume in August.

The new plans are a joint venture between the regional development agency Advantage West Midlands and the St Modwen property group. The regional plan contains an outline for a "Longbridge Area Action Plan" that would create 10,000 jobs in the area over the next 15 years.

Longbridge was for many years the home of the Austin car manufacturing company. The site closed in 2005 with the demise of the MG Rover company.