A Manchester property investment company has revealed plans to develop a multi-million pound industrial scheme on the outskirts of Wolverhampton following the purchase of the large site.
The site on Wobaston Road, Wolverhampton, is close to the large i54 industrial estate – home to Jaguar Land Rover’s £1bn engine manufacturing centre.
The site has been acquired by Manchester-based MCR Property Group. The terms have not been disclosed.
It has now filed plans to develop approximately 370,000sq ft of warehouse or manufacturing space on the site, including provisions for a two-storey office element, room for 69 HGVs and 300 car parking spaces.
The scheme could lead to the creation of hundreds of new jobs.
The site currently contains an HGV trailer park and is the location of the former Alliance Paper and Tissue factory which was gutted in a large fire in January this year.
Chris Taylor, fund manager of MCR Property Group, said: “Manufacturing and logistics are at the heart of the Midlands Engine and the region’s overall economic growth plan, so developments of this kind will surely attract high profile tenants to the area.
“The construction phase alone would create hundreds of temporary jobs; plus, we estimate the creation of 525 permanent roles when the scheme completes and we find a buyer – a significant boost to the Wolverhampton economy.”