Urban Splash has made its first purchase in Wolverhampton with the acquisition of a former industrial development, known as the Sunbeam Factory.
The four-storey perimeter block acquired by the award-winning developer totals 150,000 sq ft of varying amalgamated industrial buildings.
Stephen Catchpole is Chief Executive of Wolverhampton Development Company (WDC), “Urban Splash is renowned for delivering innovative, high quality commercial and residential developments. Its first purchase in Wolverhampton is testament to the City’s growing appeal as a great place to invest.
“Our role at WDC is to work with partner organisations to increase the pace, scale and quality of development opportunities across the city. Urban Splash’s acquisition is just one of several recent examples where investors are realising the city’s potential.”
The locally listed landmark took on the name Sunbeam due to its former use as the manufacturing hub of Sunbeam Motorcycles. The factory is one end of what used to be an enormous complex, Sunbeamland. Sitting in a prominent position off Penn Road to the South of Wolverhampton Ring Road, it is just five minutes’ walk to the city centre.
Urban Splash has purchased the building, some of which dates back to 1890, from A & J Mucklow Group plc. It is part of its growing presence in the West Midlands, which includes Fort Dunlop and Rotunda.
Will Evans is WDC’s Development Director, “The Sunbeam sale is a welcome addition to the recent announcements of companies investing in the City. In early June, for example, the much awaited application for Phase I of the Interchange scheme was submitted by Neptune Developments with Wolverhampton City Council. This important phase will provide a new world–class bus station together with commercial space.
“In the same month, Scholars’ Walk, a £1.5millon heritage apartment scheme opened in the City Centre’s Broad Street heritage district. It’s highly encouraging that there is so much movement in such a static market.”