L&G Modular Homes wins Wolverhampton resi opportunity
Legal & General Modular Homes has been selected by the City of Wolverhampton Council as the preferred developer for one of the largest city centre residential development opportunities in the Midlands.
The council has now entered into an exclusivity agreement with Legal & General Modular Homes to build around 400 new homes, subject to planning approval, at Wolverhampton’s Canalside South – a former industrial site fronting on to the Wyrley & Essington Canal.
The 17-acre waterfront development opportunity sits on the eastern edge of the city centre. It is made up of the Canal & River Trust-owned former Crane Foundry site, the council’s former British Steel site and land off Qualcast Road.
Legal & General Modular Homes has been selected by the City of Wolverhampton Council as the preferred developer for one of the largest city centre residential development opportunities in the Midlands.
The council has now entered into an exclusivity agreement with Legal & General Modular Homes to build around 400 new homes, subject to planning approval, at Wolverhampton’s Canalside South – a former industrial site fronting on to the Wyrley & Essington Canal.
The 17-acre waterfront development opportunity sits on the eastern edge of the city centre. It is made up of the Canal & River Trust-owned former Crane Foundry site, the council’s former British Steel site and land off Qualcast Road.
Legal & General will also seek to deliver commercial uses alongside the new homes, such as a coffee shop, co-working space, bike hire and water activities, while landscaping will create a green corridor and promote biodiversity.
Rosie Toogood, chief executive of Legal & General Modular Homes, said: “In the face of a chronic housing shortage, steep energy bill increases and a looming climate crisis deadline, our mission is to reduce costs to consumers and the environment by producing the best-quality homes in the most efficient way possible. The City of Wolverhampton shares this ambition and together we are excited to deliver a first-class community for Wolverhampton and the West Midlands.”
She added: “Legal & General as a business has a strong track record of delivering major regeneration projects throughout the UK. This latest development further demonstrates its commitment to delivering regeneration and housing across the West Midlands, having signed a £4bn partnership agreement earlier this year with West Midlands Combined Authority.”
City of Wolverhampton Council deputy leader and cabinet member for city economy Stephen Simkins, said: “We have now secured a prestigious developer with the expertise to deliver this large and exciting opportunity at Canalside South and, through our Canalside Delivery Partnership with the Canal & River Trust, we are determined to realise the scheme’s full potential.
“Strong partnership working is delivering £4.4bn of investment across Wolverhampton – and by pooling our resources with the Canal & River Trust we believe we can bring about a nationally significant development alongside one of the most historic stretches of canal in the country.”
The overall vision for the Canalside masterplan is the delivery of around 1,000 homes. There is also the potential to include the provision of a mix of retail, leisure and commercial uses as part of the comprehensive development of the site.
Avison Young advised L&G Modular Homes on the deal.
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