It has selected commercial property company Goold Estates to develop top grade units ranging from 5,000 to 25,000 sq ft on almost 15 acres of vacant brownfield land.
The £17.6 million construction of the new industrial and commercial units in Bilston could deliver up to 400 jobs and support demand for a range of commercial units from new and existing businesses.
The site is situated to the rear of Morrisons supermarket and borders the Midland Metro to the east and Bankfield Road to the west – with quick connections to Junction 10 of the M6 via The Black Country Route.
Goold Estates already has experience of working in the city after constructing 6 industrial and warehouse units at Steelpark Trading Estate in Wednesfield, generating more than 150 jobs.
The news comes during Wolverhampton’s annual Business Week and is another significant boost for Bilston Urban Village.
Deputy Leader and Cabinet Member for City Economy, Councillor Stephen Simkins, said: “Goold Estates have a proven track record when it comes to this type of development in Wolverhampton and I am delighted to welcome them on board for this project.
“The disposal of this land for employment use is another critical piece of the Bilston Urban Village jigsaw.
“It is even more critical now to provide new opportunities for our residents as we look to recover economically from the impact of Covid-19.
“We are realising our vison of affordable urban living for hundreds of families - all right at the heart of Bilston.
“The urban village offers extensive areas of open space to enjoy on the doorstep, new schools for kids to learn in, a top class leisure centre nearby, a new family pub/restaurant on tap and further investment planned for the town centre.
“It is also a great location with purpose-built transport connectivity and the new commercial plot will provide hundreds of jobs opportunities.
“Bilston Urban Village also shows why our work towards establishing a National Brownfield Institute at the University of Wolverhampton’s outstanding £120 million Springfield Campus is so critical.
“This will help get more former industrial land ready for development, creating future employment sites and homes.”