Midland-based property company Mucklow is set to bring a derelict 12.5 acre site in Dudley back to life with a £12 million high-quality commercial development which is expected to create about 180 jobs.
Mucklow has exchanged contracts with Advantage West Midlands to develop around 160,000 sq ft of new business space at Yorks Park, adjacent to the Dudley bypass.
The Phase 1 project also includes significant preparation work on the Phase 2 site, which can accommodate up to 120,000 sq ft, with construction likely to commence in early 2008.
The land is a former mining and landfill site on the outskirts of Dudley town centre, which has undergone a £5 million remediation and reclamation scheme by Dudley Council.
The area has already benefited from a £1 million scheme to build a new access roundabout, commissioned by AWM in partnership with Dudley Council and part funded by the European Regional Development Fund.
Mucklow managing director Justin Parker said: "We are currently working up detailed proposals for Phase 1 of the scheme and we hope to secure planning consent before the end of the year.
"This is our first development in Dudley for a number of years and we are looking forward to working closely with Advantage West Midlands and Dudley Council in making it a success."
Steve Holland, head of asset management at AWM, said: "The Agency has a key priority to create a world-class region in which to do business and this scheme is an excellent example of public sector partners working with a leading private sector company to create jobs and bring prosperity to Dudley."
Cllr Malcolm Knowles, cabinet member for economic regeneration, said: "The site is being developed for high technology output and this investment now provides a real opportunity to deliver this."
