Huge regeneration interest in Dudley borough
High level talks around £500 million of investment into Dudley borough are underway following huge success for the authority at an international property exhibition.
A wide range of developers and investors have identified Dudley borough as a prime site for regeneration following MIPIM held in France this week.
Dudley Council regeneration bosses have now lined up detailed talks and negotiations with a range of potential suitors for a number of sites across the borough with investment potential of half a billion pounds.
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. 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
A full portfolio of sites is under consideration by investors and developers including 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 is also under consideration by developers forming part of a wider leisure quarter on land around the new £18million centre, and at the conference 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.