One of the UK’s leading commercial property developers Stoford has announced that work has commenced on their ambitious warehouse scheme in Wolverhampton.
Developed by leading commercial property developer Stoford Developments and specialist sustainable and impact investor Bridges Fund Management, the scheme is expected to deliver more than 240,000 sq ft of industrial units and could pave the way for 250 jobs.
Angus Huntley, Development Manager, Stoford Developments, said: “We’ve been working hard to get the site ready and are pleased to see that the next stage to deliver the units has now started. We are confident that Pantheon Park will appeal to major occupiers, looking for high-quality units in a strategic location.”
Four Grade A industrial/warehouse units are being developed at Pantheon Park, just 2 miles from Wolverhampton city centre.
Stoford has delivered over 13 million sq ft of floor space across the UK since 1996, while Bridges Fund Management has a 15-year track record of delivering environmentally conscious commercial returns – The Pantheon Park development will be funded by Royal London Asset Management (RLAM).
Guy Bowden, Partner, Property Funds, Bridges Fund Management, said: “For many years, this site was empty and unloved. With support from the Black Country LEP and City of Wolverhampton Council, we’ve been able to bring it back into use thanks to a significant amount of environmental remediation work – and we’re delighted that we can now get on site to build these units.
“We believe they will be really attractive to a broad range of major logistics and industrial businesses, which should ultimately bring hundreds of jobs to the local area. I look forward to working with both Stoford and RLAM on this project.”
Stoford and Bridges secured a £23m funding agreement with RLAM, and also received a loan of more than £3m from Black Country LEP to help with remediation and demolition costs.
UK car dealership Arnold Clark will become one of the first occupants when its brand new motor store opens later this year; an additional unit has been earmarked for storage company Lok’nStore.