Wolverhampton out to charm MIPIM investors with Westside story
Wolverhampton Council has continued its attempt to lure investment into the city by highlighting the new £55m Westside development to visitors to the MIPIM property exhibition in Cannes.
The local authority has backed its campaign with the release of new images showing how the major new scheme will eventually look.
Enabling works on the leisure-led mixed use scheme at the heart of the city centre are currently under way, and the council said it had received strong demand from occupiers.
Developer Urban & Civic has said construction on the first phase of the scheme remains on track to start in early 2018.
The MIPIM presentation also highlighted a 100-plus bed opportunity for a hotel investor to be part of the scheme, which sits across 6.4 acres on three adjacent parcels of land.
Westside will also bring to the city a multiplex 12-screen cinema, 50,000 sq ft of additional leisure space, 40,000 sq ft of new restaurant space, and a multi-storey car park – all in phase one.
Phase two will deliver more than 300 new city centre homes and 50,000 sq ft of retail and leisure space.
Cllr John Reynolds, Wolverhampton’s cabinet member for City Economy, said: “Plans are progressing well for Westside and it is a fantastic city centre scheme, as this latest image shows.
“It has already attracted unprecedented demand from occupiers and will gain added profile at this week’s MIPIM event.
“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.”
Construction on phase one of the project is expected to be 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 two 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 Property Director, Philip Leech, added: “This prestigious city centre leisure scheme will become a game changer both culturally and economically.
“We are looking forward to completing a destination which will serve the city for generations to come.”
- TheBusinessDesk.com, in association with Marketing Birmingham, will be in Cannes for this week’s MIPIM event. Check out our exclusive coverage here