West Midlands developers Don and Roy Richardson have announced £25m plans for the redevelopment of 16.19ha (40 acres) of derelict land in the Black Country as 42,455 sq m (457,000 sq ft) of industrial space. The scheme – which will be targeted at national requirements for distribution and manufacturing units – will be built on a speculative basis.
Richardson Developments will purchase the land – four sites at Wednesbury alongside the Black Country New Road – from the Black Country Development Corporation (BCDC) . The BCDC helped secure the development with an £8.3m grant which was calculated on the basis that the land is worth £333,580 per hectare (£135,000 per acre).
Construction work is due to begin in the summer. Agents have yet to be appointed.
EGi News 18/04/96
