Wolverhampton Council has reported “significant interest” from businesses and retailers ahead of the 2015 completion of its flagship city centre office scheme.
Work started last month on Interchange 10, a much-needed Grade A office block, part of a wider regeneration of the area around Wolverhampton railway station. The city authority has invested almost £11m in the overall scheme, which it hopes will attract further investment and create at least 1,000 new jobs.
Interchange 10 is being delivered by Balfour Beatty and Neptune Developments. “The prestige office space, along with new leisure and retail facilities, will keep up the momentum of the Interchange project and send out a clear message that Wolverhampton city centre is a place to locate,” said Neptune’s Steve Parry.
Planners gave the Interchange 10 project the green light in March this year and says Peter Bilson, the council’s cabinet member for economic regeneration and prosperity, “is attracting interest from a number of big national retailers and big name companies”.
One brewery chain, Greene King, has already signed to open one of its Hungry Horse pub and restaurants in an Interchange 10 ground floor unit. The leases on two other shops are expected to be completed before the end of November.
Describing the commercial project as the only top grade office accommodation in the area, Bilson added: “The city council has invested £10.6m in this scheme which highlights our commitment to the delivery of long-term growth for Wolverhampton.
“Seeing building work get underway is hugely encouraging for people and business in Wolverhampton and demonstrates confidence and optimism in the city to potential investors.”
The second stage of the scheme, a new railway and Metro station, will start later next year. “The Interchange is a main gateway to the city centre and is a strategic regeneration priority for the council,” said Bilson.
“The existing multi-storey car park at the railway station is very dated and widely regarded as a bit of an eyesore.
“Our vision is for a modern, attractive interchange so that the many thousands of visitors to our city arrive here and instantly see that we are a city that means business and is going places.”
The Interchange project has also seen the authority acquire the leases for the neighbouring Victoria Square and Queen’s Building and convert unoccupied first floor space into an office development.
