Thieves have stolen more than 300ft of wooden hoardings which had been installed to seal off Bilston’s £167m Urban Village development.

The fencing had been put up to protect the site from intruders in preparation for the massive regeneration development, which will mark a new era for the town. But council bosses have been left scratching their heads after discovering most of it has disappeared overnight.

They said that 90 per cent of the panels had been taken by thieves.

The thefts come just weeks after it was revealed fence panels are being sold on the black market for up to four times the normal price due to a European timber shortage.

Bilston councillor Bert Turner said: “I assume that people had seen the hoardings and there was no security at the time and took them. The hoardings were put up to keep everybody out but most have gone.”

Wolverhampton City Council spokesman Tim Clark confirmed the hoardings had been taken.

“The remediation work had been carried out on the site and, although there is nothing there yet, the hoardings had been put up to stop people getting into the site.”

The massive regeneration scheme is set to mark the dawn of a new era in Bilston, and top-notch developers have been lined up to spearhead the project.

It is one of the biggest regeneration projects in the Wolverhampton area and will feature 1,000 homes, health and leisure complexes, shops and pubs.

It is set to transform more than 100 acres of wasteland and will create up to 900 jobs.

As part of the project, allotments, acres of parkland, a boulevard link to the High Street, provision for a new Metro tram stop and pedestrian and cycle networks could also be created.

Call police in Bilston on 0845 113 5000 with any information about the theft.

By Victoria Nash