Avison Young appointed to support major residential canalside development in Wolverhampton
City of Wolverhampton has today launched one of the largest city centre residential development opportunities in the Midlands.The Council through its delivery partnership with Canal & River Trust has assembled the site, which is being marketed as Canalside South for the development of a residential community that will see hundreds of new homes along one of the most historic stretches of canal in the country.
Strategic real estate advisor Avison Young is supporting the marketing of the site as a commercial partner.
The 17-acre waterfront development opportunity sits on the eastern edge of the city centre and is made up of the former Crane Foundry site, former British Steel site and land off Qualcast Road.
The vision for Canalside South is the delivery of around 1,000 homes to meet both the city and wider region’s housing needs. It will also see the provision of a mix of complementary retail, leisure and commercial uses as part of the comprehensive development of the site.
Located minutes away from the city centre and the award-winning £150million transport Interchange, it provides easy access to the tram, road, rail and canal network.
City of Wolverhampton Council Deputy Leader and Cabinet Member for City Economy, Councillor Stephen Simkins, said: “There is a strong developer appetite to deliver a transformational project in this part of the city.
“Canalside South is a large and exciting opportunity and, through our Canalside Delivery Partnership with the Canal & River Trust, we are determined to realise its potential.
“Strong partnership working is at the heart of our Business Week messaging and by pooling our resources we believe we can bring about a nationally significant development on one of the most historic stretches of canal in the country.
“It will enable our residents to benefit from superb connectivity, amenity and health and well-being opportunities at this wonderful heritage location.”
Cheryl Blount-Powell, National Property Development Manager for Canal & River Trust, said: “We’re delighted to be working with City of Wolverhampton Council and Avison Young to bring this development opportunity to the market and we look forward to attracting developer interest to deliver a sustainable waterside community in a revitalised destination.
“This development is located next to the historic Wolverhampton and Wyrley and Essington Canals providing green space in the heart of the city centre. Our research shows that being by water is good for our mental and physical health and, with this development being so close to the canal, I hope people living here will feel happier and healthier and spend time exploring our wonderful waterways.”
Mark Birks, Regional Head of Land and Development at Avison Young said, “Canalside South is unique in being such a large canal-side regeneration opportunity, offering considerable scope for the development market to deliver a comprehensive scheme offering a broad range of housing typologies and tenures.
I think the opportunity we have here has the ability to transform this area of Wolverhampton and act as a catalyst for delivery of much needed housing to the city centre.”
Interested parties in the site can get in touch by emailing [email protected]
