Work has started on transforming a derelict industrial site in
Wolverhampton into a bustling new business park creating more
than 330 new jobs.
Foundry Business Park, which is being built on 15-acres off Brook
Street, Bilston, will offer small and medium sized firms (SMEs)
much needed modern accommodation, helping to tackle a shortage in
the region. But it will also offer larger units suitable for
national occupiers.
Oldbury-based developer Goold Estates has started work on site
following confirmation of a £12.5m investment by the West
Midlands Combined Authority (WMCA) to help kick-start the
project.
Goold Estates was selected by City of Wolverhampton Council as
its chosen developer for the land which it has designated for
employment use as part of its wider Bilston Urban Village
regeneration project.
The investment is the latest to be made by the WMCA as part of
its programme to transform urban, brownfield sites for new homes,
jobs and commercial spaces, helping to drive economic growth
across the region.
The WMCA funding is being used in part to cover the cost of
cleaning up the site and making it ready for the construction of
15 industrial and distribution units offering 166,500 square feet
of accommodation to suit a variety of uses.
, Mayor for the West
Midlands, and Chair of the WMCA, said: “Foundry Park will bring
new life to this site and create over 300 much needed jobs for
local people.
“This modern, environmentally sustainable development will give
businesses room to grow and contribute to the community. It will
also help tackle a shortage of high-quality workspaces for our
region's smaller firms.
“Investments like this strengthen our local economy and build a
solid foundation for future growth that benefits everyone across
the West Midlands.”
Goold Estates has a track record of investing in the
Wolverhampton area after developing the Steelpark Trading Estate,
in Wednesfield, a scheme that generated more than 150 jobs.
Dominic Goold, managing director of Goold Estates, said: “This
brownfield site has a complex industrial legacy which has kept it
vacant for more than 20 years.
“It required consultation with a number of third parties to
progress the site's development, but we are excited to have begun
remediation works.
“We have considerable experience of regenerating derelict sites
that bring economic and environmental benefits to local
communities. Foundry Business Park has the potential to create
hundreds of new jobs, secure the future of many firms in the
region and attract inward investment.”
The residential phase of Bilston Urban Village features 78 homes
off Dudley Street and 420 homes off Coseley Road, all occupied by
families living right on the doorstep of the town centre.
City of Wolverhampton Council Leader, Cllr Stephen Simkins, said:
“Bringing this strategically important site forward has been a
long-term ambition for the council and I am delighted to see our
chosen developer, Goold Estates, start works to create new
industrial and distribution units that will deliver hundreds of
jobs for our residents.
“It is another major milestone for Bilston Urban Village, where
we have also realised our vision of creating hundreds of new
affordable homes for families.
“The urban village offers extensive areas of open space to enjoy
on the doorstep, new schools for kids to learn in, a top-class
leisure centre nearby, a family pub/restaurant on tap – and
further investment happening in the town centre.
“This strong employment, housing and leisure offer is also
supported by purpose-built transport connectivity."
Access to the WMCA funding was provided by the Property Team at
Frontier Development Capital Ltd (FDC). FDC continues to work
closely with property developers to arrange investments from the
WMCA's Commercial Investment Fund (CIF) and Residential
Investment Fund (RIF).
