The deal, which will see the WMCA make more than £1.5m available for the clean-up of the land, is the latest in a series of disused industrial sites to be redeveloped under the authority’s ‘brownfield first’ regeneration programme.
Work on the Raleigh Street site in the Birchills area of Walsall began in September last year and is expected to be concluded by the summer of 2022. The land was previously occupied by the Harvestime Bakery, which at its peak was one of the biggest employers in the area but has stood vacant for years after the business stopped operating in 2012.
James Warrington, Divisional Managing Director, Vistry commented: “We are really pleased to be working with Gatehouse Bank and whg on this exciting regeneration scheme in Walsall. The range of dwellings and mix of tenures will offer the widest possible choice of affordable homes built to the highest standards.”
Mayor of the West Midlands Andy Street, who chairs the WMCA, said: “Without the WMCA’s intervention this new housing scheme just would not have happened, and the site would have remained a derelict eyesore for the local community. Our investment is transformational for this scheme.”
Frontier Development Capital Ltd supported the funding deal, which clears the way for Vistry Partnerships to start construction on the 4.6 acre site, which will offer 66 homes for private rent as well as a further 22 affordable homes.
Gerald Gannaway, Investment Director, Frontier Development Capital, said: “Since 2012 when the Harvetime Bakery closed, the site off Raleigh Street has stood derelict. We’re delighted that the WMCA is backing this regeneration scheme as it will transform a dormant premises into much-needed housing for families in Walsall”.
