A £3.6 million funding deal has been agreed to support the development of a new industrial hub in the Black Country which will create around 100 jobs.
Solihull-based Warmflame Developments has secured the loan from the West Midlands Combined Authority to support its regeneration work in Rowley Regis.
The project will build around 54,000 sq ft of industrial and distribution space for use by small companies on a 2.7-acre site in Cakemore Road, to be called WD.BOXHUB Rowley Regis.
The site was previously occupied by engineering and information technology company Invensys but has been derelict for a number of years.
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West Midlands Mayor Andy Street said: “Remediating derelict brownfield land to turn into new homes, communities and businesses, has been one of the real success stories of the West Midlands in recent years and we must not allow the pandemic to knock us off course.
“Since the outbreak, we have already secured more cash from government to keep up this work and I am delighted we are continuing to find new sites to develop such as this one in Rowley Regis.
“As well as protecting the greenbelt and regenerating eyesore sites, brownfield remediation also has a critical role to play in the West Midlands’ economic recovery from coronavirus.
“Committing to clean up derelict sites helps guarantee work for local firms, protecting and creating jobs.”
Paul Hodge, managing director of Warmflame Developments, added: “The schemes we are designing are high specification micro and small box units to meet the needs of those SMEs who want to buy or lease good quality accommodation.
“SMEs have struggled to find business premises that meet with their own vision and aspirations and Rowley Regis is seeking to fill that gap, creating business space to help those firms operate successfully and maximise their potential.”
Access to the funding was provided by Frontier Development Capital.