International investors shown £500m property opportunities in Dudley borough
A massive £500 million could be invested into Dudley borough after the authority showcased land on offer at an international property exhibition.
Dudley Council regeneration bosses say they have have lined up negotiations with a range of potential suitors for a number of sites across the borough following the MIPIM conference in France.
The annual real estate conference sees authorities from across the West Midlands and the world showcase planned projects in a bid to find investment.
Councillor Patrick Harley, leader of the council, said: "Dudley’s people and businesses deserve the best and putting ourselves in the shop window to serious investors has already opened up a huge number of opportunities which will ultimately lead to further multi-million pound investment in our borough.
"We are now already actively pursuing very warm leads with a string of investors which could lead to as much as £500 million of investment coming to the borough."
He added: "The talks will now progress relating to specific sites which is extremely exciting as it will bring about much needed change in a number of locations which we have identified with investors."
Sites is under consideration include more than 12 hectares across multiple sites through Dudley town centre, including the site of the former leisure centre in Wellington Road.
Land around Flood Street near to the new Duncan Edwards Leisure Centre can also form part of a wider leisure quarter on land around the new £18million centre.
The council also announced soft market testing of the much anticipated Portersfield development will get underway shortly ahead of a formal procurement competition in early summer 2022.
Meanwhile other sites around the High Street and Tower Street are also identified as prime sites for investment. Outside of Dudley town there are also seven hectares of land around Engine Lane in Lye which has been the subject of interest with potential development partners.
The council’s regeneration team will progress talks with around 70 interested parties over the coming months before formally opening procurement opportunities for all interested parties to invest in Dudley.
