November 27th, 2018
Work on remediation and regeneration of new development site in Walsall now underway.
St Francis Group has secured grant funding for the former Elkington Brass Works site on Goscote Lane, Walsall from The West Midlands Combined Authority (WMCA) Black Country Land and Property Investment Fund.
St Francis Group, a leading UK-based property development and investment group and an expert in brownfield development and regeneration together with its sister company DSM Demolition, has today announced that it has been awarded a grant of £3.6m from the West Midlands Combined Authority Black Country Land and Property Investment fund to remediate brownfield land on Goscote Lane in Walsall in the West Midlands.
In conjunction with the grant award, St Francis has agreed the sale of the site to Homes England which it will handover upon completion of the remediation.
Works on the site – the old Elkington Brass works and Cerro EMS factory, were marked by an event attended by St Francis together with the Mayor of the Midlands Andy Street and Councillor Mike Bird, leader of Walsall Council and the WMCA portfolio holder for housing and land and Steve Holland of Homes England.
St Francis Group and its sister company DSM will remediate the 17.1 hectare site to create the potential for some 260 new houses which will be brought forward by Homes England.
The development forms part of the Goscote Lane Corridor scheme – which will see 700 homes built in the area as part of Walsall’s biggest residential regeneration project.
The funding awarded to St Francis Group comes from the Black Country’s £53m land remediation fund, part of £200m secured by the WMCA for housing and land in the first devolution deal which transferred powers from central Government to the Combined Authority.
Speaking about the project, Andy Plant St Francis Group Design and Planning Director said: ‘The dynamics of Homes England combined with the WMCA and the private sector have enabled us to once again recognise and respect the past, tackle the challenges of the present in order to make the most of the future.
The legacy of the Black Country needs this approach and, in this case, will result in 263 homes from a site that could have lain derelict for generations but for this intervention.’
Also speaking, Mayor of the West Midlands, Andy Street, said: “The West Midlands is cementing its reputation as a great place to live and work, with record economic growth and job creation and an increasing international profile.
“Our Strategic Economic Plan set out how that growth would affect our population in real terms: we expect 400,000 more people will be living in the region over the next decade, and we need to build 215,000 homes by 2031 to provide comfortable, quality houses for our communities.
“We’ve committed to ensuring 80% of those homes are built on brownfield land - but many brownfield sites need to be cleaned up before houses can be built on them. I’m delighted we’ve been able to contribute to the important Goscote Lane regeneration scheme in Walsall by funding clean-up work to unlock land for an extra 263 quality homes.”
For further information and media enquiries, please contact:
Nick Brown – MOMENTUS Group
T: +44(0)7590 076105
About St Francis Group
St Francis Group is leading UK-based property development & investment group and an expert in brownfield development and regeneration.
Founded in 1973, it has established itself as an innovative owner, manager and developer of high quality commercial and residential property. With in-house financial resources and a dynamic management team, it adopts a highly successful approach to brownfield renewal with opportunistic acquisitions, joint ventures, asset management and where necessary, a longer term strategic approach.
St Francis Group’s development pipeline covers all market sectors but with a particular emphasis on commercial and residential brownfield opportunities. The Group is currently managing the delivery of remediation and infrastructure projects to create residential plots and in excess of 850,000 sq. ft. of commercial space to meet present day occupier requirements across its portfolio.
St Francis Group has access to a wide range of demolition, decommissioning, decontamination and remediation specialisms enabling it to manage risk extremely effectively and often to the benefit of sellers.
For further information visit: http://stfrancisgroup.com/.