Balfour Beatty has been making the headlines of late, with news of its discussions regarding a merger with Carillion rarely attracting media attention. However, Balfour Beatty has not simply been focusing on proposed mergers but also keeping a keen eye out for upcoming projects, proven by the fact it has just been appointed to a multi-million pound regeneration project in Wolverhampton.
Alongside Neptune Developments, Balfour Beatty will design and construct a major office and retail development known as Interchange 10, which will play a huge part in the £139 million regeneration of Wolverhampton city centre.
The site lies close to the city’s bus and railway stations, so will be ideal for firms seeking a flexible property with good transport links, and will see preparation works begin next month.
Interchange 10 will consist of six ground floor retail units with a further three floors containing high quality office space. On completion, the building will become the city centre’s first Grade A office space.
Delivery unit managing director at Balfour Beatty’s Northern Major Projects division, Jon Adams, believes the firm will be able to bring a lot to this highly anticipated project.
He says; “We are delighted to have been awarded this landmark development in Wolverhampton city centre.
“Balfour Beatty has extensive experience in delivering retail and office developments having constructed Snowhill in Birmingham and recently being awarded the Barons Quay scheme in Northwich.
“I look forward to working with Neptune Developments and Wolverhampton City Council to bring our expertise to Wolverhampton.”
Although groundwork has not yet begun on the Interchange 10 site, the local authority has already confirmed that one of the ground floor retail units will be taken up by pub chain Hungry Horse – a tenancy agreement which will create 50 full and part time jobs in the local area. Furthermore, it has hinted that further tenancies will be confirmed in the coming weeks, as it is in “advanced stage” negotiations with two further companies.
The wider Interchange scheme was first launched in 2012, when the first phase saw the creation of a new bus station and Victoria Square, upgraded access links to the railway station and a full refurbishment of the landmark Queens Building. The city council will invest a total of £10.6 million in the scheme, with project partners including Neptune Developments, Network Rail, Virgin Trains and the Canal and River Trust making further financial contributions to the works.
Cabinet member for Economic Regeneration and Prosperity, Councillor Peter Bilson, says; “The appointment of Balfour Beatty to design and construct Interchange 10 is a major milestone in the redevelopment of this key site.
“The wider interchange is a main gateway to the city centre and is therefore a strategic regeneration priority for the council.
“We have had a great deal of interest in Interchange 10 from a number of different companies which demonstrates a great deal of confidence in this significant scheme.”
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