£28m Black Country industrial park gets WMCA backing
A brownfield site in Bilston is set to be transformed into a £28m industrial park that could create 330 jobs.
The WMCA Board has now agreed in principle to make a multi-million-pound investment to help kick-start the project as part of the wider Bilston Urban Village redevelopment scheme.
The investment will be used in part to help cover the cost of cleaning up the site and making it fit for redevelopment.
Works could commence on site as early as this spring, subject to planning approval.
Andy Street, Mayor for the West Midlands, and Chair of the WMCA, said: “This multi-million pound WMCA investment is great news for local people in Wolverhampton.
“Bilston Urban Village is a key part of the wider regeneration of Wolverhampton as we continue to bring in new funding, new homes, and new jobs.
“Working together with Wolverhampton Council, we’re improving quality of life for residents – at the same time as ensuring good road access, prioritising cycle ways and pedestrian routes and providing excellent connectivity into the town centre”.
Cllr Stephen Simkins, City of Wolverhampton Council Leader, said: “We welcome this funding to support the council’s chosen developer with their plans for this strategically important site that will generate hundreds of jobs for our residents. It is another milestone for Bilston Urban Village, where we have also realised our vision of creating hundreds of new affordable homes for families.
“The urban village offers extensive areas of open space to enjoy on the doorstep, new schools for kids to learn in, a top-class leisure centre nearby, a family pub/restaurant on tap – and further investment planned for the town centre.
“It is also a great location with purpose-built transport connectivity to this strong employment, housing and leisure offer.”
Dominic Goold, managing director of Goold Estates, said: “We are very grateful to the WMCA for its support for a new industrial/urban logistics scheme in Bilston. This is a complex site which requires significant investment and we would simply not be able to proceed without this funding. We look forward to making a start on site as soon as we’re able to.”
Access to the WMCA funding was provided by the Property Team at Frontier Development Capital Ltd (FDC). FDC continues to work closely with property developers to arrange investments from the WMCA’s Commercial Investment Fund (CIF) and Residential Investment Fund (RIF).
