Multi-million pound partnership on Featherstone park
Multi-million pound plans to transform a landmark former factory site into a manufacturing park are a step closer to reality.
BAE Systems, the UK's largest defence and security firm, first unveiled plans for a 700,000sq ft park on the former Royal Ordnance Factory site, Featherstone, South Staffordshire, last year.
Today the firm said it has entered into a development partnership with London-based property firm Bridgehouse to move the project forward.
It is hoped that the park, on Cat and Kittens Lane, may create hundreds of new jobs and bring in more than £1.5 million of business every year.
BAE systems says the deal supports its plans to bring the site forward for redevelopment and the partnership will generate "significant benefit" to the local area by creating jobs.
Andrew Cheesman, director of BAE Systems Real Estate Solutions, said: "We welcome the extensive global commercial real estate development and regeneration experience that Bridgehouse will bring to our plans for the Featherstone site.
"This deal enhances our ability to deliver the development plan, which includes employment and economic benefits to the local community."
A spokesman for Bridgehouse Capital added: "We have a strong record of delivering significant UK development projects and are excited to work with BAE Systems to deliver a development plan for Featherstone that we strongly believe will bring tangible benefits to the area."
It has not yet been announced when work will start but work to prepare the land for development will now have to be carried out,
Once it is complete it will house businesses offering light and general industrial use. It is thought BAE systems plans to sell the land for development rather than operate any new business itself. The site is around a mile from the i54 business park in Fordhouses in Wolverhampton, where Jaguar Land Rover is building a £500million engine plant creating 1,400 jobs.
It used to house a Second World War munitions factory. Previous plans put forward by BAE for a HGV depot and warehouse sparked complaints it would "dwarf" the surrounding village.
A planning application for redevelopment of the site was approved by South Staffordshire Council last year.
