The £5.5 million development that will see a former Birmingham factory site redeveloped has received support from the West Midlands Combined Authority. The Combined Investment Fund has managed to provide a loan to the project that is valued at £2.9 million. The Combined Authority funding has been awarded to Barberry Developments in order to help with the development of the former factory site.
The location being redeveloped is the former Tuckers Fastenings, which is a 46,000 sq. ft. industrial site located at Walsall road, Perry Barr. Barberry Developments has purchased the site and is in the process of redeveloping the space. It is thought that the work will be complete later this year and the project is expected to create approximately 75 new jobs.
The endorsement by the Combined Council Investment Fund shows their support in regenerating the site in order to create more industrial space at twill lead to the creation of jobs and could provide a boost to the local economy. The Combined Investment Fund was created in order to support developments that could lead to a boost in the area. These developments will make sure that the West Midlands continues to have a successful industrial sector well in to the future.
The site has been unoccupied since Tucker Fastenings closed in 2013. The old producer f rivets, fasteners and a variety of other metal products had been open at the site since 1903, and had even helped with the construction of fighter jets in World War II. The old metal factory is sat in prime industrial location near the A34 as well as having easy access to Birmingham City Centre as well as the M6 and motorway. The development will be in an ideal place when completed to offer work and services to the people in the local area. It is thought that once the development is completed later this year that it will appeal to the e-commerce market as well as the urban logistics, trade and manufacturing sectors.