Two industrial units covering 14 acres and providing a total of 283,000 sq. ft. of accommodation will be built at Kingswood Lakeside, near Cannock, with support from the Combined Investment Fund (CIF).
Midlands-based developer Opus Land has been awarded the money to purchase and develop the site at the former Kingswood open-cast colliery, backed with funding by Bridges Ventures.
It is building a new call centre unit there for First Choice, and has previously built a regional distribution hub for courier firm APC, and the offices of waste management company Veolia HQ on adjoining plots.
The CIF is a £70 million commercial development fund set up by the WMCA earlier this year to stimulate jobs, opportunity and growth in the region.
WMCA chair councillor Bob Sleigh said: “I am delighted the CIF has made its first award.
“This is the Combined Authority financially supporting a local developer with a strong track record to bring a non-productive site back into economic use.
“This will create jobs and stimulate further investment and prosperity in this region, which is at the heart of what the WMCA was set up to do.”
Councillor Gordon Alcott, deputy leader and economic development and planning portfolio leader for Cannock Chase District Council, also shared his support: "I am delighted that the WMCA and GBSLEP have decided to support this excellent scheme put forward by Opus Land with their funding partner, Bridges Ventures.
“The scheme will provide significant job opportunities and investment into Cannock Chase district and I applaud all those involved in bringing it forward."
Victoria Smith, joint managing director of Henley-in-Arden based Opus, added: “This is Opus’ fourth development at Kingswood Lakeside showing the draw the area has for commercial occupiers.
“The development of this site will provide Grade A industrial accommodation to help plug the acute shortage of industrial and storage land accommodation in the Midlands.”
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