Mountcity Investments has announced plans for a 12-acre industrial complex in Western Way, Wednesbury, following its acquisition from steel and engineering group Caparo.
Richard Norgrove, director of Mountcity Investments, plans to carry out a refurbishment of the site, which is currently made up of manufacturing and warehouse bays, with a combined floor space of 278,881 sq ft.
The site, which will become known as Newman Park, is to be broken up in to a mix of units ranging from 10,000 to 110,000 sq ft.
Mr Norgrove said: "By breaking up the site and creating a mix of unit sizes, we will be able to bring a business park feel to the complex and offer choice to potential occupiers."
The break-up will create a range of self-contained units with ancillary office space. Additionally, many of the bays are fitted with overhead travelling cranes, an unusual feature in industrial space in the Black Country, making them suitable for manufacturing.
The redevelopment of the site will attract new businesses and has the potential to bring new jobs to the area. Similar sites of a comparable size and nature developed by Mountcity Investments have created 500 jobs.