Major 1,000 jobs boost planned on £32m overhaul of Tipton trading estate
Work is due to start in the coming days on a multi-million pound industrial development in Tipton that could help deliver a major jobs boost for the Black Country.
It comes more than a year after developer CEG secured planning permission from Sandwell Council for its ambitious £32 million scheme to overhaul the historic Vaughan Trading Estate in Tipton, creating up to 1,000 jobs.
Another 200 will be created by the building work.
The scheme involves flattening most of the existing buildings on land neighbouring the Thomas Dudley foundry and CAB Autos factory.
The start of work comes at a time when top quality industrial and warehouse space is in short supply. Developer CEG aims to create up to 500,000 sq feet of space at Vaughan Park.
Work on the first phase is set to commence shortly.
CEG secured planning permission for the regeneration of the historic 28 acre site in September 2016 and is now managing the speculative development of the first phase of units.
This first phase will offer up to five units totalling 80,000 sq ft and CEG says it will be ready for occupation later this year.
Further 'design and build' opportunities of between 5,000 and 200,000 sq ft are also available on the site.
Lawrence Escott, investment manager at CEG said: “This is a buoyant West Midlands commercial location, benefitting from exceptional transport links and a large, skilled workforce.
"There is a significant lack of quality industrial floor space in the area and this first phase will deliver high quality space designed to meet the market demand from small to medium sized businesses.”
CEG says the new factory and warehouse units will be built to "an unrivalled specification" with internal heights of eight metres (26ft), separate yards and parking in a well-landscaped environment. Environmentally friendly, they will have 24 hour security, CCTV and gatehouse entry.
CBRE and Bulleys have been appointed as agents to market the site.
Stuart Mair from CBRE said: “The increase in occupier demand across all size ranges in the West Midlands over the last few years has been prevalent.
"The speculative construction of these high quality industrial and distribution units by CEG means that Vaughan Park is perfectly poised to meet this demand and offer both local and regional occupiers the opportunity to grow their business’ in a secure, well designed and well-located environment.
“We are looking forwards to helping CEG promote the regeneration of Vaughan Park and create a thriving business community”
CEG started out in 1989 as Commercial Estate Group and is now based at offices in in London, Birmingham, Leeds and Cornwall, managing commercial property portfolios of around10 million sq ft worth £850 million. It also developing around 8,000 acres of land which could deliver around 45,000 new homes and 10 million sq ft of new commercial space around the UK.