The Gorcott Trust and the Homes & Communities Agency (HCA) have secured £1.8 million of infrastructure funding for the Redditch Eastern Gateway development from Worcestershire Local Enterprise Partnership (LEP).
With the funding in place, development partner Stoford can press ahead with the planning, infrastructure design and construction process of the employment site.
The 70 acre Redditch Eastern Gateway development will deliver more than 1 million sq ft of new office and industrial space, creating up to 1,500 jobs.
A planning application for the first phase of development is expected to be submitted to Stratford-Upon-Avon District Council in September, with the possibility of work commencing as early as the summer of next year.
The Gorcott Trust and the Homes & Communities Agency (HCA) were advised by Savills who have been involved in this site since 1998, originally negotiating the joint ownership agreement between Gorcott and the HCA.
Head of Savills Birmingham, Barry Allen, said: “This is an exciting step forward for a development identified as one of four ‘game changers’ by Worcestershire County Council and the Worcestershire LEP.
“We are pleased to have played an important role in a scheme which will make such a substantial contribution to the future economic prosperity of the region.”
Jon Andrews, Director at Stoford, added: “This funding is a tremendous boost for the scheme at the outset and demonstrates the commitment of all stakeholders involved in the project.”
Executive Director for the Midlands at the HCA, Christine Addison, said that this partnership was developed to “open this land for development.”
She added: “The appointment of the developer was an important step towards creating a high quality site at Redditch Gateway that will significantly increase the town’s ability to attract inward investment.”
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