A circa £30 million construction programme for The Junction, Oldbury could commence in mid-2012 reports the developer for the scheme; The Junction Limited Partnership.
Bounded by Bromford Road, Dudley Road, Oldbury Ringway and Fountain Lane, the 15.3 hectare site (38 acres) has planning permission for a 300,000 sq ft mixed-use development incorporating open A1 non-food and bulky goods, leisure uses and A3/4/5 restaurant premises. There is also permission for up to 1,500 car parking spaces.
A Section 73 application to vary conditions to make the development viable in the current economic climate will be submitted shortly to Sandwell Metropolitan Borough Council. The application paves the way for development activity commencing next year. Demolition of redundant buildings and the start of remediation works for the former industrial land has already taken place, demonstrating The Junction’s commitment to developing this prime site adjacent to Oldbury town centre.
Subject to the Section 73 approval being received by spring 2012, together with a number of occupier pre-let agreements being in place, a main contractor would be appointed to commence work by summer 2012. The targeted date for completion of the development is late 2013.
Jo Lord, Managing Director, Retail Parks at Capital & Regional, managers of The Junction said: “The Junction, Oldbury is a key development project within our UK wide portfolio. We are keen to bring this site forward as soon as possible and we have been working closely with Sandwell Metropolitan Borough Council to make this a reality.
“640,000 people are estimated to live within a 20 minute drive of the site, which provide a substantial catchment area for a variety of high quality retailers who we are currently in discussions with. The site is also located on an arterial route into Oldbury, with many bus services passing the development and being within easy walking distance of Oldbury town centre, our development has been designed as an extension of the traditional town centre, giving shoppers a wider choice and more reason to visit.”
Cllr Ian Jones, Cabinet Member for Jobs and Economy comments: “Hundreds of jobs for local people would be created by the development of The Junction. The range of new retail premises would also give more choice to local shoppers and encourage thousands more people to visit Oldbury each week.
“This is exactly the type of development we need to encourage in the current climate to boost our local economy and enhance a key town centre for the Borough. Furthermore, if building work could start in summer 2012, this would immediately create a large number of construction jobs for local people.”