The property investment and development company will speculatively develop a 12-acre plot at the Bilston Urban Village employment site, off Brook Street in Bilston.
Known as Foundry Park, the scheme will comprise 15 new environmentally sustainable warehouse units ranging in size from 2,500 - 60,000 sq ft, designed to suit a variety of uses.
Units will target BREEAM Excellent and be equipped with features including photovoltaic roof panels and electric vehicle charging.
Goold Estates is the City of Wolverhampton Council’s chosen developer for the Bilston Urban Village employment site and purchased the land from the council.
The Foundry Park scheme represents the final phase of development at the Bilston Urban Village, with a gross development value of £28 million and the potential to create up to 300 new jobs when complete.
Remediation work is expected to start on site shortly, with the main construction following in 2025.
Dominic Goold, managing director of Goold Estates, said: “As a locally based developer, we’re excited by the challenge of regenerating a derelict brownfield site that will bring economic and environmental benefits to Bilston.
“We know the regional market very well. We have delivered a similar multi-unit employment development in Wolverhampton which is fully let and believe that Foundry Park will attract a high calibre of occupiers.
“This is a site with a complex industrial past, which has been vacant for more than 15 years, so we’ve had to make a significant investment in planning the extensive remediation that will be required before building the scheme. We now look forward to starting the remediation works.”
Councillor Stephen Simkins, City of Wolverhampton Council Leader, said: “This has always been an important site in our overall economic strategy for Bilston and now planning approval has been granted we can look forward to Goold Estates bringing forward another exciting development on brownfield land in Wolverhampton.
“It is a further milestone for Bilston Urban Village, where we have realised our vision of creating hundreds of new affordable homes for families. With that we need more good jobs.
“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 multi-million-pound investment planned for the town centre.
“It is also a great location with purpose built transport connectivity and the new commercial development will provide hundreds of job opportunities.”
Foundry Park is immediately adjacent to the Black Country Route with easy access to Jct 10 of the M6. The Midland Metro runs along the boundary of the site, with Bilston Station within walking distance.
