£55m shopping scheme cleared to go after Wolverhampton names developers

A £55m shopping and leisure scheme is set to transform the fortunes of Wolverhampton city centre.

After months of expectation, City of Wolverhampton Council has finally named its preferred developer for the new Westside scheme.

The 6.4-acre site comprises three adjacent parcels of land in the freehold ownership of the council.
 
It represents one of the most significant regeneration opportunities at the heart of the city centre.
 
Situated opposite the new Sainsbury’s supermarket on St Mark’s ring road, the Westside site includes the Fold Street, Peel Street and School Street car parks.

A list of 11 leading developers and investors was initially reduced to five before the council announced at the MIPIM property conference in March that the final pair had been selected.
 
The local authority has now named London-based Urban & Civic as its final choice and the now has a six-month exclusivity period during which it must further develop proposals for the multi-million development in order to meet the council’s regeneration aspirations for the site.

As it stands, the mixed-use scheme will comprise a multi-screen cinema, restaurants, bars, hotel, multi-storey car park, apartments, and public realm, in two phases over five years.
 
Although somewhat overshadowed by other events in Westminster, the council opted to make its announcement at a Houses of Parliament event showcasing the city of Wolverhampton to a room of high-profile developers and investors.
 
Cllr John Reynolds, cabinet member for City Economy, said: “The quality of submissions from developers and investors for Westside was extremely high.
 
“(However), Urban & Civic stood out as the clear winners.”
 
He said the proposals matched the authority’s own ambitions and councillors had been impressed during a visit to Feethams in Darlington where Urban & Civic is delivering a similar scheme to that proposed for Westside.
 
“They clearly possess an excellent track record in delivering comparable high-quality schemes in the UK and have the financial support in place,” added Cllr Reynolds.
 
“There is a general enthusiasm around the Westside opportunity, and optimism concerning the groundswell of regeneration activity across the city, where £3.7bn of investment is on site or in the pipeline.”
 
While not as ambitious as the £300m scheme at one time planned for the Summer Row area before the scheme fell victim to the recession, the Westside development is still one of the most significant phases of the ongoing regeneration of the city centre, which includes a redeveloped railway station, improved Metro links and schemes such as the successful i10 mixed-use office and leisure building.

Construction on phase 1 of the project is expected to start in early 2018 and complete by early 2020. It encompasses land between Penn Road Island and Salop Street, including the current School Street and Peel Street car parks and the area around Market Square.
 
Phase 2 incorporates parts of land between Salop Street and Darlington Street, including the Fold Street car park. Works on this section of the development are likely to be completed in 2022.
 
Urban & Civic Chief Executive, Nigel Hugill, added: “Full credit and thanks to City of Wolverhampton Council for recognising the importance of project stewardship.  
 
“Too many projects fall at the hurdle of land assembly.  
 
“Secondly, I can only endorse the real importance of Wolverhampton Westside.  More than ever at the moment, economic revitalisation involves an enduring sense of partnership.
 
“Urban & Civic currently lead on some of the largest schemes in the UK‎ but, on the basis that we do things properly, I know that none can rely on more support than that from the Black Country. We will do all that we can to reciprocate.”

The council was advised on its decision by property consultants Bruton Knowles and Jones Lang LaSalle (JLL).

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