A major regeneration project which will see new life breathed into 44 acres of brownfield land in the Black Country has taken another step forward after contracts were exchanged.
Henry Boot Developments has now signed the paperwork with Walsall Council and Homes England for the Phoenix 10 project.
Once home to the James Bridge Copper Works, the site west of Walsall town centre has been derelict for more than two decades but is set to become a centre for enterprise with up to 620,000 sq ft employment space.
Henry Boot will deliver Phoenix 10 on behalf of the council and Homes England, supported by funding from both partners as well as Black Country LEP and West Midlands Combined Authority.
The site is the largest undeveloped brownfield plot in the Black Country and its location near junction nine of the M6 is expected to make it attractive to occupiers.
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Vivienne Clements, executive director at Henry Boot, said: "This is one of the most significant industrial and logistics schemes coming forward in the West Midlands - both in terms of scale and its potential to drive business growth and investment.
"This is a great opportunity to bring new investment into the area and we look forward to getting started on site."
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Community engagement on the proposals will commence shortly ahead of a planning application being submitted in the coming weeks.
Remediation work is expected to begin next year.
Lucy Blasdale, development director for Homes England, added: "We are committed to using our land and investment to help stimulate local economic growth and this project highlights our commitment as it will deliver new commercial space and ultimately jobs.
"This is the result of a collaborative partnership.
"We have worked with our public sector partners to find the right delivery partner in Henry Boots which has a strong track record in these types of sites and funding solutions.
"The exchange of the legal agreements represents a significant step forward in the regeneration of this large, formerly developed site."
Walsall Council's deputy leader Coun Adrian Andrew said: "We have been working for many years to make a success of this site and this is a massive step forward.
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"Phoenix 10 is a sleeping giant and the clean-up and redevelopment of the site will contribute to the economic recovery of Walsall and the wider region.
"The site provides the council and its partners with a number of challenges which we will need to overcome but we are excited to now really get started.
"The signing up appointment of Henry Boot as our development partner is another important stage on that journey."
Legal advisers on the deal were Browne Jacobson, DWF and Pinsent Masons.