Derelict industrial site set for multimillion-pound transformation
A derelict industrial site in the Black Country is to be transformed into an industrial scheme in a multi-million-pound investment.
The 2.7 acre site on Cakemore Road, Rowley Regis has been derelict for a number of years but will now be home to more than 54,000sqft of industrial and distribution units.
The development is expected to provide a boost for small firms struggling to find suitable premises in which to establish and grow their business.
The West Midlands Combined Authority (WMCA) has now stepped in with a £3.6m loan deal to help Solihull-based Warmflame Developments clean up the site, which was previously occupied by engineering and information technology company Invensys, and build the premises which when fully let will be home to around 100 jobs.
Andy Street, Mayor of the West Midlands, said: “Remediating derelict brownfield land to turn into new homes, communities, and businesses, has been one of the real success stories of the West Midlands in recent years, and we must not allow the pandemic to knock us off course.
“Since the outbreak we have already secured more cash from Government to keep up this work, and I am delighted we are continuing to find new sites to develop – such as this one in Rowley Regis.
“As well as protecting the greenbelt and regenerating eyesore sites, brownfield remediation also has a critical role to play the West Midlands’ economic recovery from coronavirus. Committing to clean-up derelict sites helps guarantee work for local firms, protecting and creating jobs.”
The Warmflame scheme is the latest example of the WMCA’s brownfield-first approach to new commercial and housing developments, which sees derelict industrial sites cleaned up while greenbelt land is protected.
Access to the funding was provided by Frontier Development Capital.
Paul Hodge, managing director of Warmflame Developments, said: “The WMCA provides developers like Warmflame Developments with the extra financial capacity to undertake projects like this, taking a brownfield site and regenerating it, thereby adding to the West Midlands growth story. The traditional financing route provides limited support to developers like us and the WMCA fills an important gap in the financing market, while at the same time achieving its overarching goal of growing the West Midlands economy.
“The WD.BOXHUB schemes we are designing are high specification micro and small box units to meet the needs of those SMEs who want to buy or lease good quality accommodation. SMEs have struggled to find business premises that meet with their own vision and aspirations and WD.BOXHUB Rowley Regis is seeking to fill that gap, creating business space to help those firms operate successfully and maximise their potential.”
Ray O’Sullivan, director of mac-group, the main construction contractor for the project, said: “With the challenges we’ve all experienced these past few months, it’s great to get started on this development, which will bring much-needed investment and jobs into the Black Country thanks to financing from the WMCA.”
Pic: L-R Andy Street, Mayor of the West Midlands, Michelle Elleman, business development manager at mac-group and Paul Hodge, managing director of Warmflame Developments
