Nearly 500 jobs to be based at new Coventry business park following £24m WMCA investment

Work to transform part of the former Meggitt aerospace site in Coventry into a new business park featuring hundreds of jobs has been completed thanks to a multi-million-pound investment by the West Midlands Combined Authority (WMCA).

Over the last two years the WMCA has put nearly £24m into the regeneration of the derelict Meggitt site off Holbrook Lane working with urban logistics property developer Chancerygate.

Now, after 24 months of work, Holbrook Park is offering businesses 31 industrial and warehouse units spread over 12 acres of the former aerospace manufacturing site. Some of the units are already occupied and once fully let, the business park is expected to be home to nearly 500 jobs. The site has stood mostly empty since Meggitt, whose customers include aviation giants Airbus, BAE Systems and Boeing, moved the majority of its operations and staff to new headquarters in nearby Ansty four years ago.

The WMCA’s investment into the business park is part of its nationally leading brownfield regeneration programme. Using a ‘brownfield first' approach these investments have been the key to unlocking and transforming hundreds of acres of former industrial sites across the region for high quality, affordable new homes and modern workspaces for job creating businesses.

Andy Street, Mayor of the West Midlands and WMCA Chair, said: “It's wonderful to see how this WMCA investment has been able to breathe new life into this large and landmark site. This new business park is yet another example of how we're successfully regenerating these sorts of derelict industrial sites. By working in close partnership with the private sector, our investments lead to affordable and energy efficient homes and business premises, create new jobs for local people and help to protect our precious greenbelt for generations to come.”

With a shortage of modern, small to medium size commercial premises available on a lease or freehold basis in Coventry, schemes like Holbrook Park are considered vital in giving job creating businesses the modern premises they need to further grow and prosper.

Rob Watts, Development Manager at Chancerygate, said: “Working in close partnership with the WMCA, we have used the significant investment provided to deliver a sustainable and enduring economic asset for the region. Due to its strategic location and the high specification of the accommodation, we have already secured four occupiers and there is a great deal of interest in the remaining units.

“We look forward to welcoming more occupiers to Holbrook Park and seeing it grow to become a vibrant location with ongoing commercial and employment opportunities.”

Cllr Ian Courts, WMCA portfolio holder for housing and land and Leader of Solihull Council, added: “Once again the WMCA is using the money it has secured from Government to drive forward its nationally leading brownfield regeneration programme and to help grow the regional economy.

“These investments not only unlock the potential of difficult-to-develop brownfield sites, but they also provide developers and investors with the confidence they need to take forward schemes that will create new homes and jobs local people need.”

Cllr Jim O’Boyle, cabinet member jobs, regeneration and climate change at Coventry City council said, “This is a real win, win – Meggitt has relocated with some support from us and now this new business park is set to be the home to new businesses providing new jobs for local people.”

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