NEW industrial units and a drive-through Costa Coffee are set to be built at the old British Sugar factory site in Kidderminster.
The development is part of a £1.9m development loan awarded by Wyre Forest District Council to support the regeneration of brownfield land, which will form part of Silverwoods Park on Stourport Road.
Phase one of the scheme, led by Suma Development, is set to create 42 new jobs and attract £80,000 of new business rates to the area. Plans for phase two would see the construction of new trade-counter units.
The funding has been provided from the council's £10m Development Loan Fund. The industrial units, which will be named Forest Industrial Park, will be purchased by the council to directly support employment opportunities and growth.
Cllr Mary Rayner, Wyre Forest District Council’s cabinet member for finance and capital, said: ”We welcome Suma’s investment in the district and the additional employment opportunities it will provide as part of the mixed-use Silverwoods development. We are particularly pleased that this is the first successful award under the Council’s Development Loan Scheme and we encourage others to come forward with their potential projects.”
Paul Mcloughlin, Managing Director of Suma Developments Ltd, said: “The funding made available by the Wyre Forest District Council development loan was fundamental in allowing us to proceed with this development during these uncertain times. We and our construction partners, McPhillips, are looking forward to commencing on site and delivering the completed scheme later in the year.”
Ed Bradburn, Property Investment Director at Frontier Development Capital, said: “The development being brought forward by Suma will transform derelict brownfield land into much needed commercial space. "Despite the current economic uncertainties there remains a need for high-quality units and drive-through hospitality, and this development will form a valuable part of the Silverwoods Park scheme.”
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