Barteak Developments has already started work on the courtyard development, to be known as Castle Court, with the aim of creating six self-contained office units ranging in size from 1,750 sq ft to 5,800 sq ft.
Castle Court, which includes 76 car parking spaces, is the first speculative office scheme to be built in the area for well over ten years.
This represents more good news for Castle Gate, which is being undertaken by Amec Developments in conjunction with Advantage West Midlands and Dudley Metropolitan Borough Council.
David Currie, development director at Solihull-based Barteak Developments, says: "This is a fantastic opportunity for small and medium-sized companies looking for brand new office accommodation or for investors looking for a commercial buy-to-let opportunity on a well established business park in a convenient and popular location.
"We are able to offer freehold and lease options and, because we'll be completing the buildings to shell-and-core stage by July 2004, owner-occupiers will be able to choose their own fit-out specifications.
"We can tailor-make the accommodation to exactly meet each individual company's needs. We believe that we're taking a truly innovative and flexible approach to this development in that we are able to offer a comprehensive service on completion.
"Far from handing over the keys when the buildings are finished and walking away we can have as much - or as little - involvement as each company requires.
"We might for instance be involved with marketing the properties to tenants on behalf of investors or offer a facilities management-type service to owner occupiers."
Set against the backdrop of a volatile investment market and an uncertain economic climate, Barteak believes that Castle Court offers a perfect investment opportunity - perhaps offering a supplementary or alternative option to a traditional pension scheme.
And with a current lack of freehold office space in Dudley and the Black Country in general, Castle Court adds a new dimension to the overall Castle Gate development.
John Woodall, assistant director of economic regeneration at Dudley Metropolitan Borough Council, agrees that there's demand for such a development.
He says: "This is excellent news for Dudley. It proves we can cater for all levels of business in the borough.
"Barteak has come up with a scheme that means smaller businesses now have access to smaller new property. It's just what's needed in Dudley and it fills a gap."