Oldbury multi-million retail park plan scrapped
Plans to build a new multi-million pound retail park on the site of a former Black Country foundry have been scrapped.
The Junction site between Bromford Road and Dudley Road near Oldbury town centre is now likely to be redeveloped for housing instead.
Shopping centre operator Hammerson, which owns Bullring and Grand Central in Birmingham, had got planning permission for a range of shops and stores on the 12-acre site that it bought back in 2012.
A Hammerson spokeswoman said: “We are consulting local people about revised plans for the land between Bromford Road and Dudley Road next to Oldbury town centre.
"This would enable delivery of residential units, public open space and pedestrian links through the site. This would include a mix of housing to reflect local need.
“The team is currently liaising with neighbours and local stakeholders regarding the new plans to ensure local opinion is considered ahead of an outline planning application.”
She said that having reviewed the site Hammerson believed that the most deliverable form of development at this time was residential rather than retail.
"It is important that this derelict and vacant site is regenerated and bought back into use for the benefit of the local community," she added.
In April 2016 Hammerson secured planning permission for a discount food store, eight or nine other shop units and three outlets and large car park on the former Hunt Brothers Griffin Foundry site off Bromford Road.
It was a scaled-back version of plans for a retail park that was first proposed for the site near Oldbury Ringway 21 years ago.
The site, near to Sandwell and Dudley railway station, has been empty since the foundry was demolished in 2003 to make way for a £30 million retail and leisure development.
Proposals for the development of the site have repeatedly stalled over the years.
At one stage a development of 34 acres in size and costing up to £50m – that would have created 1,000 jobs – was being considered
Later Hammerson said that it wanted housing to become part of a mixed use development.
In its annual results announcement on Monday, Hammerson revealed a £266,7 pre-tax loss after a year of retail failures put pressure on property values with net rental income falling 6.2 per cent to £347.5m.
The value of the company's property portfolio dropped 5.9 per cent to £9.94 billion. It sold off £570m worth of its assets last year and plans to sell another £500m this year.
