A 40-acre site in Coventry has been given the green light for development.
The site, in Little Heath, is owned by Acetate Products Limited (APL), and was home to their Courtaulds factory until 2007.
Coventry City Council has granted permission for 344 new homes, with ten acres given over to a detailed commercial scheme.
The latter has been pre-let to Lex Autolease, for a lease car processing centre, creating 180 local jobs.
A multi-disciplinary team from the Birmingham, Manchester and London offices of CBRE steered APL through the three year planning process and secured the letting.
According to Philip Scott, CBRE’s head of planning in the regions, the site is one of the largest mixed-use schemes around the Midlands to have secured detailed planning consent over the past three years.
He said: “The site was originally designated for 100 per cent employment use. However, APL has invested millions in decontaminating and clearing the site. The most effective way to recoup these significant costs and make the development viable was to regenerate the site with a robust mix of commercial development and family housing.
“Lex viewed the site just over ten months ago. From then we were able to put a detailed masterplan together, working with local residents and the City Council to finally bring forward the comprehensive regeneration of this area.”
Twenty per cent of the housing at the site will be affordable. The Coventry canal runs through the site and will be improved. Two new football pitches will be created, for public use. Access to the site will also be enhanced by installing a new junction at Foleshill Road and new infrastructure around Old Church Road.
Work is anticipated to start on the Lex facility this summer, for occupation in Spring 2014. Lex was represented by Trebor Developments.
CBRE has been retained to market the residential development land.
