Canalside North – Brewers Yard
The public and private strategic delivery partnership will look to secure investors and occupiers to help deliver this ambitious residential-led mixed-use regeneration project.
Through partnership working the opportunity exists to accelerate site preparation and fast track delivery, leading to de-risked phasing of key investible opportunities from regional, national and international funding institutions.
The proposed scheme sees the regeneration of a 10-acre brownfield site. A £250m mixed use scheme which will see a total mixture of 1,200 city houses and apartments, and 60,000 square foot of new retail and commercial space, as part of the city’s Canalside regeneration. The scheme aims to deliver high quality, affordable living in some of Wolverhampton’s tallest towers alongside high quality, well thought out public realm.
The scheme is set to deliver a number of benefits to the local area, not least the new residential accommodation, but through hundreds of permanent new jobs, over 1,000 construction jobs plus built environment apprenticeships and training opportunities being offered to students of the university.
Planning consent is being sought for the development during the course of 2022, with an anticipated construction start later in the year.
• 1,200 modern residential homes, 60,000 sq ft of new commercial space, £250 million GDV, 10 acre city centre opportunity for build-to-rent investors
Why invest in Wolverhampton?
Wolverhampton has been backed by the UK Government in February’s Levelling Up White Paper to continue to deliver even more ambitious regeneration projects across the city. This is a strong endorsement of the work of the City of Wolverhampton Council who have an impressive track record of delivery in partnership with a range of public and private sector organisations.
With £4.4 billion worth of investment on site or planned, the face of our city is changing through the creation of a wealth of attractive opportunities for developers and investors. Prime examples of this collaborative working are the award-winning £1 billion i54 business park, the £150 million Interchange transport hub, the £17.5 million National Brownfield Institute at the University of Wolverhampton’s Springfield Campus and the
£16 million construction of the i9 office complex – now home to the Department for Levelling Up, Homes and Communities’ second headquarters.
With 10,000 new homes planned, the potential for another 1 million square foot of office space, opportunities in retail, leisure and hospitality and an enviable portfolio of heritage buildings, Wolverhampton is a prime location for investment in the heart of the UK.
Insight for investors
• Type of Investment Sought: Forward funding; Development funding, PRS fund opportunity
• Value and cost info: £250m GDV
• Jobs: 1,000+ jobs
• Timescale: Anticipated during 2022
• Delivery Timescale: Immediate
• Planning Status: Outline application being prepared due for submission March 2022 for initially a total of up to 550 residential units.