Last month saw the City of Wolverhampton Council make the long awaited announcement of a preferred developer for Westside, a £55 million leisure-led mixed-use scheme in Wolverhampton city centre.
Urban & Civic was selected over ten other leading UK developers and investors to deliver the scheme. They will now get a six-month exclusivity period in which to further develop their proposal for the 6.4-acre site, which includes a multi-screen cinema, restaurants, bars, hotel, apartments, multi-storey car park and public realm.
The announcement was made at a Houses of Parliament event showcasing the City of Wolverhampton to a room full of high-profile developers and investors.
Councillor John Reynolds, Cabinet Member for City Economy, said: “The quality of submissions from developers and investors for Westside was extremely high but Urban & Civic stood out as the clear winner.
“They clearly possess an excellent track record in delivering comparable high-quality schemes in the UK and have the financial support in place.
“Urban & Civic’s outstanding proposals perfectly meet our expectations of a regenerated Wolverhampton.
“Throughout the process our decision was fully informed and we were professionally advised by property consultants Bruton Knowles and Jones Lang LaSalle (JLL).”
Bruton Knowles has been advising the council on the scheme since 2014, when we were instructed to conduct and manage the project and to advise on future delivery options for sites, including developer procurement, land use options, viability, phasing and marketing.
Ian Mercer, partner and head of development consultancy at Bruton Knowles, said: “Selecting a preferred developer marks another major milestone for the development.
“Westside will be a game changer for the regeneration of Wolverhampton, creating jobs, attracting visitors back into the city centre and boosting the local economy. It will also act as a catalyst for further development at sites such as Southside and St George’s.
“These are exciting times for the city.”
Construction on phase 1 of Westside is expected to start in early 2018 and complete by early 2020, while phase 2 is scheduled to be completed in 2022.