Huge regeneration project moves forward as contracts exchange
One of the largest regeneration projects in the West Midlands has taken a step forward, with property developer HBD exchanging contracts with Walsall Council and Homes England on the Phoenix 10 regeneration scheme.
Once home to the James Bridge Copper Works, the 44-acre site in Walsall has been derelict for over 20 years.
Now it is set to become a centre for enterprise once again with up to 620,000 sq. ft. of employment space, attracting new jobs and investment to the region.
HBD will deliver Phoenix 10 on behalf of Walsall Council and Homes England, supported by funding from both partners, along with the Black Country LEP and the West Midlands Combined Authority (WMCA) which has agreed a multimillion-pound funding deal to undertake the remediation works.
The site is the largest undeveloped brownfield plot in the Black Country.
Vivienne Clements, executive director at HBD, said: “This is one of the most significant industrial and logistics schemes coming forward in the West Midlands – both in terms of scale and its potential to drive business growth and investment.
“HBD has more than 40 years’ experience delivering large-scale regeneration schemes like this, returning disused sites back to positive use and creating new jobs and opportunities for communities across the UK. This is a great opportunity to bring new investment into the area and we look forward to getting started on site.”
Community engagement on the proposals will start shortly and planning will be submitted shortly thereafter, with remediation works expected to begin in 2021.
Lucy Blasdale, development director for Homes England, said: “We are committed to using our land and investment to help stimulate local economic growth and this project highlights our commitment as it will deliver new commercial space and ultimately jobs. This is the result of a collaborative partnership with Walsall Council, the Black Country LEP, WMCA and HBD. We have worked with our public sector partners to find the right delivery partner in HBD who have a strong track record in these types of sites and funding solution.
“The exchange of the legal agreements represents a significant step forward in the regeneration of this large, formerly developed site.”
Deputy leader of Walsall Council, Cllr Adrian Andrew, said: “We have been working for many years to make a success of this site and this is a massive step forward. Phoenix 10 is a sleeping giant and the clean-up and redevelopment of the site will contribute to the economic recovery of Walsall and the wider region. The site provides the council and its partners with a number of challenges which we will need to overcome but we are excited to now really get started. The signing up appointment of HBD as our development partner is another important stage on that journey.”
Pinsent Masons acted for HBD, Homes England was represented by Browne Jacobson and Walsall Council was advised by DWF.