Green light for job-boosting multimillion-pound industrial scheme
Plans have been approved for a multi-million pound industrial scheme that is expected to create around 250 jobs.
Commercial property developer Stoford Developments and Bridges Fund Management will develop four Grade A industrial/warehouse units at Pantheon Park in Wolverhampton, after planning bosses at City of Wolverhampton Council gave the nod to the scheme.
Work will start next month on the four units, which vary in size from 30,000 sq ft to 82,850 sq ft, with practical completion scheduled for November.
A&H Construction has been appointed as contractor.
Stoford and Bridges Fund Management recently secured a £23m funding agreement with Royal London Asset Management for the development of the 18-acre site in Wednesfield.
Angus Huntley, development manager, Stoford Developments, said: “Pantheon Park is a high-quality development that will appeal to local and national occupiers and create job opportunities for people in the Wolverhampton region.
“We’ve worked hard to get the site ready for development following an extensive programme of remediation and demolition, supported by a loan of over £2m by the Black Country LEP and are excited at the prospect of work starting on site this month.”
Guy Bowden, partner, property funds, Bridges Fund Management, said: “The new development is a response to strong occupier demand, while also having a positive impact on the local area. The remediation work has regenerated a brownfield site that has been derelict for over a decade.
“We are delighted to be working with Stoford and Royal London on such an exciting project.”
Planning consent has also been granted for a major new car sales site at Pantheon Park on behalf of car dealership Arnold Clark, with an additional unit earmarked for business storage company, Lok’nStore.
Pantheon Park’s agents are Bulleys, Savills or JLL.
