Construction work has been completed on a new multi-million pound road seen as key to plans to create 2,500 jobs on a former Jaguar Land Rover site.
About a mile of new road now cuts through the car giant’s old Browns Lane site in Coventry after an investment believed to worth around £9 million from Advantage West Midlands and property group Goodman.
Goodman carried out remediation and infrastructure work on the 70-acre site in an intensive 26-week programme which brings plans of a mixed-use site closer to being realised.
AWM, which acquired part of the car plant site in December 2008, and Goodman negotiated with Coventry City Council to develop the site into an office, light manufacturing and distribution scheme together with 174 residential units, including affordable housing.
Mick Laverty, chief executive at AWM, said: “The agency first intervened at Browns Lane as a result of a tough economic climate. The commercial property market was unable at the time to instigate the infrastructure works required to open up the site without additional outside investment.
“The combined expertise of AWM and Goodman has transformed 70 acres of brownfield land and created the right environment to attract businesses. It has the potential to create more than 2,500 high value jobs and bring forward 60,000 sq m of quality office space.”
The Browns Lane site has planning permission and has been renamed Lyons Park in recognition of the heritage of the site and its founder Sir William Lyons, who started the Swallow Sidecar Company that eventually evolved into Jaguar.
Graham Pardoe, development director at Goodman, said: “The completion of the infrastructure work represents the next stage of the ongoing strategy to develop the site. We will continue to work closely with our partners to ensure Lyons Park plays a key role in the wider regeneration of Coventry.”
Martin Yardley, development director at Coventry City Council, said: “Browns Lane is an important site and one that we think can provide a fantastic mixed use development with new homes and employment opportunities for local people.
“As we emerge out of these tough economic times, investors will be looking for sites just like this – that’s why it was so important that we completed the remedial work to ensure it is ready for the upturn.”
“It already has outline planning permission so it is a very attractive site and one that we think there will be a lot of interest in.”