Goold Estates has brought forward plans to regenerate a vacant brownfield site in the Black Country that could create up to 300 new jobs.
The Oldbury-based property investor and developer has submitted a detailed planning application for the speculative development of a 12-acre plot at the Bilston Urban Village employment site, off Brook Street.
It proposes development of 166,500 sq ft of new industrial and distribution warehouse accommodation, comprising 15 units ranging in size from 2,500 to 60,000 sq ft to suit a variety of uses.
Works could commence on site as early as next spring, subject to planning approval.
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Goold Estates recently completed the purchase of the land from the council and its plans represent the final phase of construction on the site, with a gross development value of £28 million.
It previously constructed six industrial and warehouse units at Steelpark Trading Estate in Wednesfield, which generated more than 150 jobs.
Managing director Dominic Goold said that the planning application included a significant investment in remediating, decontaminating and stabilising the site, which will result in environmental benefits to the area.
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"We are very pleased to bring forward plans for Bilston Urban Village and are excited at the prospect of delivering our second speculative scheme in Wolverhampton in recent years," he said.
"We're based locally, we know the market well and we believe this multi-unit employment development will attract a high calibre of occupiers, creating as many as 300 new jobs.
"There has been an intent to develop this site for some time but it has been vacant for more than 15 years which gives an idea of its complexity.
"The industrial legacy of the site requires extensive remediation and we've put a lot of time and effort into planning that during the pre-application process with the City of Wolverhampton Council."