Modwen among four on the list for £50m Wolverhampton scheme

Regeneration agency Advantage West Midlands has lined up four firms to pitch for a redevelopment deal near Wolverhampton, worth at least £50m.

The contestants for the flagship scheme, which goes under the banner of i54 Developments, are St Modwen, Countryside, Goodmans, and Warner Estates.

It is expected that a preferred development partner for the project will be chosen during late spring 2009, with work on site starting in summer 2009.

The project is planned on a 91ha remediated brownfield site adjacent to the M54 on the boundary between South Staffordshire and Wolverhampton.

The masterplan includes offices, education and research facilities, a hotel and associated infrastructure work covering an area of 235,000m2.

It is hoped that the scheme will play a crucial role in the development of the North Black Country and South Staffordshire Regeneration Zone through the creation of an anticipated 6,000 new jobs.

Advantage West Midlands has gone into joint venture with Wolverhampton City Council to promote the scheme.