Ambitious plans to create a £75 million business quarter in the heart of the Black Country are set to take a major step forward.

Negotiations are closing on final contracts for the All Saints development, West Bromwich. It is hoped it will create thousands of jobs, 270,000 sq ft of office space, a 500-space multi-storey car park and attractive public spaces. Sandwell Council’s regeneration chief says an announcement is due next week on the start date and final details.

The project will be the first office build in the area since the 1970s.

Councillor Bob Badham, cabinet member for regeneration, said: “We are still in final negotiations but I will hopefully be making an announcement at the end of next week.

“I don’t want to say anymore while the ink is still drying but I am looking at either Thursday or Friday for the announcement.”

The BT Liberata office block – a £9 million, 120,000 sq ft development may create 450 jobs and provide computer, finance and HR procurement services.

Stoford Limited will develop the site at the junction of the A41 Expressway and Cronehills Linkway – currently home to a disused Sandwell Home’s depot, which will be demolished.

Advantage West Midlands provided £14 million, saying the scheme would benefit the entire region. The business quarter scheme is one part of a £500 million regeneration of West Bromwich.

Councillor Badham said that the town was constantly edging closer to “a new and exciting era”.

In the new year, construction is due to start on a £200 million Tesco development, which will include a Tesco Extra store, a 70-bedroom hotel, shops, car-parking and a public area.

About 656ft of hoardings are now being installed around the site ready for building work to start.

Eaton Valley Primary School was also given a new state-of-the-art building as part of the project.