Goold’s Steelpark development gets underway in Wednesfield

Commercial property company Goold Estates says work has started on the development of a range of industrial and warehouse units at the Steepark site, near Tata Steel's major distribution and engineering centre in Wednesfield.

The company expects the development, which has planning consent from Wolverhampton council, to attract 'significant' investment and generate dozens of new jobs. Construction firm J Tomlinson has been appointed as contractor for the project.

The Steelpark Trading Estate development of about 70,000 sq ft of industrial and warehouse units at Steelpark Way and Bearing Drive, Wednesfield, is expected to reach practical completion at the end of the year.

Dominic Goold, managing director of Walsall-based Goold Estates, said: “It is great to see construction underway. We are looking forward to delivering a high-quality development, which will attract investment and jobs to the region.

“The Steelpark site, which is adjacent to the Tata Steel Automotive Service Centre, has been vacant and available for development for many years. We acquired it in September last year and we’ve acted quickly to secure planning consent and get the development underway. We expect Steelpark to reach completion at the end of this year.

“All of the units are being built speculatively, for sale or lease, because we are confident there is a strong demand in the market. These will be high quality industrial units in a sought-after location with excellent access to the motorway network, being just 4.6 miles west of J10 M6 and four miles south of J1 M54.”

Finance Birmingham has arranged speculative development finance to help fund the project through the West Midlands Combined Authority Collective Investment Fund CIF. This fund aims to accelerate economic regeneration, assisting developers and land owners to bring forward schemes such as Steelpark.

Nick Oakley, senior investment director at Finance Birmingham, said: “It’s great to see work on Steelpark begin. This is an excellent, well-located site and we are delighted to be supporting Goold Estates in bringing forward this development which will soon deliver much needed quality industrial accommodation.”

Councillor John Reynolds, Wolverhampton council's economic chief, said: “There is £3.7 billion of investment on site or in the pipeline in the City of Wolverhampton and this is another boost for our regeneration plans.

“The Steelpark Trading Estate development will bring back to life a site that has been redundant for many years, while at the same time protect wildlife in the area. It shows there is confidence in investing in Wolverhampton and most importantly it will bring dozens of jobs to the city.”

Units available at Steelpark Trading Estate will vary in size from 8,925 sq ft to 21,450 sq ft. Goold says the building specifications can be designed to meet the requirements of occupiers and can be provided as a shell or as a 'turn-key' bespoke project.

For more information visit www.steel-park.co.uk or contact Goold Estates on 01922 613131 or email info@gooldestates.com. Agent Sam Robinson at Colliers can be contacted on 0121 265 7500 or email sam.robinson@colliers.com.

The Goold Group has been in business since 1877 when it was founded by William Albert Goold. In the late 1990s, the leather goods and saddlery company diversified into commercial property. Based in Walsall, Goold Estates owns a property portfolio focused on industrial estates and offices across the West Midlands.