St. Modwen has purchased a factory in a deal which unlocks the development potential of the £50 million Hednesford Gateway scheme in Cannock Chase.
The ATP Industries Group factory on Victoria Street will be demolished to clear the way for future development when the company relocates to an alternative site. Following the demolition programme, a new 80,000 sq ft foodstore will be constructed on the Victoria Street phase of the Gateway scheme, subject to planning approval.
The Hednesford Gateway scheme comprises two sites, representing two distinct phases – Victoria Street and Rugeley Road.
St. Modwen’s proposals for the project include a total of 48,000 sq ft of non-food retail space, a 17,500 sq ft discount foodstore, new community facilities and a new 648 space car park. The scheme will also see St. Modwen relocate the existing Hollywood Bingo Club and Drill Hall on Victoria Street to new purpose-built premises.
St. Modwen has also signed a development agreement with Cannock Chase Council for the Hednesford Gateway scheme, putting the developer and the Council in pole position to undertake one of the most significant regeneration projects in the town’s history.
Mark Watkins, development surveyor for St. Modwen, said: “The strategic acquisition of ATP Industries Group’s factory puts St. Modwen in a strong position to deliver on the £50 million vision for this key regeneration scheme, signalling the start of a new era for Hednesford. Working closely with Cannock Chase Council and other local stakeholders, St. Modwen is committed to securing a prosperous future for this area of the town, creating the right conditions for growth and assisting in the creation of new jobs.
“Last year we agreed a deal with a national operator for a new foodstore which will anchor the Gateway scheme, and we are now well placed to progress this major new facility.
“When ATP Industries Group identifies a new site and relocates its operations, we will commence demolition and ground clearing works, with construction of the new foodstore set to get under way as soon as possible after planning permission has been secured.”