Multi-million Steelpark scheme gets underway
Construction of a multi-million pound business park set to create dozens of jobs is now underway in Wolverhampton.
The speculative scheme of industrial and warehouse units is being brought forward by Black Country commercial property company Goold Estates.
The Steelpark Trading Estate, which extends to 70,000 sq ft of industrial/warehouse units at Steelpark Way and Bearing Drive, Wednesfield, is expected to reach practical completion at the end of the year.
The development, which has planning consent from City of Wolverhampton Council, is expected to attract significant interest from occupiers.
Dominic Goold, managing director of Walsall-based Goold Estates, said: “It is great to see construction underway. We are looking forward to delivering a high-quality development, which will attract investment and jobs to the region.
“The Steelpark site, which is adjacent to the Tata Steel Automotive Service Centre, has been vacant and available for development for many years. We acquired it in September last year and we’ve acted quickly to secure planning consent and get the development underway. We expect Steelpark to reach completion at the end of this year.”
Construction firm J. Tomlinson has been appointed as contractor for the project.
Finance Birmingham has arranged speculative development finance to help fund the project through the West Midlands Combined Authority Collective Investment Fund CIF. This fund aims to accelerate economic regeneration, assisting developers and land owners to bring forward schemes such as Steelpark.
Nick Oakley, senior investment director at Finance Birmingham, said: “It’s great to see work on Steelpark begin. This is an excellent, well-located site and we are delighted to be supporting Goold Estates in bringing forward this development which will soon deliver much needed quality industrial accommodation.”
Cllr John Reynolds, Wolverhampton’s cabinet leader for the city economy, said: “The Steelpark development will bring back to life a site that has been redundant for many years, while at the same time protect wildlife in the area. It shows there is confidence in investing in Wolverhampton and most importantly it will bring dozens of jobs to the city.”
Units available at Steelpark Trading Estate will vary in size from 8,925 sq ft to 21,450 sq ft.
