THE regeneration of the former Coventry site of a leading aerospace company is gathering pace following an £8.8m investment by the West Midlands Combined Authority (WMCA).
The site, off Holbrook Lane, had been home to Meggitt until the company started moving operations and staff to new headquarters in nearby Ansty two years ago.
Now, more than five acres of the former Meggitt Facility is being transformed thanks to WMCA investment, expected to generate around 200 jobs once completed.
The combined authority’s ‘brownfield first’ policy is transforming hundreds of acres of former industrial sites across the region with high quality, affordable homes and modern premises for job creating businesses.
Andy Street, Mayor of the West Midlands and chair of the WMCA, visited the Holbrook Lane scheme to see the work underway.
“It’s heartening to see that the former home of one of our most successful companies will once again be providing quality jobs for local people thanks to the WMCA’s cash.
“Throughout the pandemic the WMCA has continued to invest in the regeneration of brownfield land, and it is these investments that not only create new jobs and energy efficient, affordable homes for local people, but also reduce the pressure to build on our irreplaceable greenbelt.”
The Chancerygate scheme, which will feature 17 light industrial units, sits on one part of the 65-acre former Meggitt site.
Planning permission was granted earlier this year for 500 new homes on another part of the site.
Mark Garrity, Chancerygate development director and head of the company’s Birmingham office, said: “The initial phase of a high-quality urban logistics development will support the strong demand for industrial space in the West Midlands.”
Councillor Jim O’Boyle, cabinet member for jobs, regeneration and climate change with Coventry City Council said: “We were really pleased to be able to support Meggitt’s growth plans and now its good that more new jobs will created on the site which will combine employment alongside new homes.”
The Holbrook Lane deal follows a series of landmark funding commitments over recent months for the regeneration of derelict industrial land.