The site of a £20 million West Midlands warehouse and manufacturing development is now ready for construction to begin, following an extensive programme of remediation and demolition and the securing of detailed planning permission.
Birmingham-based developer Stoford has completed demolishing existing buildings and undertaking remediation work and ground leveling on the Wednesfield Way site near Wolverhampton, next to Bentley Bridge retail park.
The 18-acre site – known as Pantheon Park – has detailed planning permission for three schemes totaling 412,000 sq ft of manufacturing, warehouse and distribution space with 24/7 operations. It is expected to create around 400 jobs.
The development is a joint venture between Stoford and Bridges Ventures, a specialist sustainable and impact investor.
A number of potential occupiers are in talks with the joint venture partners about taking over buildings at the site, which is ideal for the logistics and manufacturing sectors. Pantheon Park is close to the M6 Toll, M5, M42 and M54 and is situated in an established location off junction 10 of the M6 via the A454.
Stoford joint managing director Dan Gallagher said: “Alongside Bridges Ventures and with the support of the Black Country Local Enterprise Partnership, we’ve worked hard over several months to get the Pantheon Park site ready and it is pleasing to see it is now at a point where construction could begin immediately.
“The site is oven-ready, having been cleared, remediated and planning secured. Buildings could be delivered within nine months of agreeing terms.
“We are in no doubt that this site will bring enormous benefits to the area when it is fully operational. Pantheon Park represents a rare opportunity for an ambitious logistics or manufacturing company looking to move to the region or expand its existing operations locally to have a high-specification build-to-suit premises on prime industrial land.”
Guy Bowden, acquisitions director at Bridges Ventures, said: “By reclaiming this valuable land we can help to meet the clear shortfall in supply of high-quality warehouse space locally, creating hundreds of jobs and hopefully contributing to the regeneration of the area in the process.”
The extensive remediation work has been supported by a loan of over £2 million by the Black Country LEP. Chairman Stewart Towe said: “We are delighted to have been able to kick-start this exciting development which highlights our commitment to removing barriers to business growth and supporting investment in the Black Country. I’m sure the site will attract an occupier who can contribute to the Black Country’s reputation as the home of world class manufacturing and engineering.”
Councillor John Reynolds, City of Wolverhampton Council Cabinet Member for City Economy, said: “Pantheon Park will bring back to life a site that has been redundant for many years. Most importantly it will bring investment and hundreds of jobs to Wolverhampton.”