Type=image;ImageID=4970;ImageClass=left;ImageTitle=An artist's impression of Interchange 10;TitleClass=strong;
Balfour Beatty will work with Neptune Developments to design and construct Interchange 10, a major office and retail development which forms part of Wolverhampton City Council's £139 million Interchange project.
It will be built close to Wolverhampton bus and railway stations and comprise 6 retail units on the ground floor as well as 3 upper levels of office space. Work is due to begin next month and is expected to be completed in late 2015.
Once complete, Interchange 10 will provide the first Grade A office space in the city centre and also be the most energy efficient building in Wolverhampton.
Last week, Greene King announced it will open a Hungry Horse pub restaurant on the ground floor of the new building - creating 50 full and part time local jobs - and negotiations are advanced with 2 other businesses interested in moving into Interchange 10.
It forms a key part of the wider Interchange scheme, led by the city council in partnership with Neptune, Centro, Network Rail, Virgin Trains and the Canal and River Trust aimed at rejuvenating the city's transport infrastructure and local retail and leisure facilities. It will create more than 1,000 direct jobs and attract major inward investment to the city.
Councillor Peter Bilson, Wolverhampton City Council's Cabinet Member for Economic Regeneration and Prosperity, added: "The appointment of Balfour Beatty to design and construct Interchange 10 is a major milestone in the redevelopment of this key site.
"The wider Interchange is a main gateway to the city centre and is therefore a strategic regeneration priority for the council."
Jon Adams, Balfour Beatty Delivery Unit Managing Director, Northern Major Projects, said; "We are delighted to have been awarded this landmark development in Wolverhampton city centre.
"Balfour Beatty has extensive experience in delivering retail and office developments having constructed Snowhill in Birmingham and recently being awarded the Barons Quay scheme in Northwich. I look forward to working with Neptune Developments and Wolverhampton City Council to bring our expertise to Wolverhampton."
The city council is investing a total of £10.6 million in the Interchange scheme. As well as the development of Interchange 10, it has also acquired the leases for the neighbouring Victoria Square - home to Sainsbury's Local - and Queens Building, and has converted unoccupied first floor space into a quality office development.
The first phase of the Interchange programme, comprising the new bus station, access improvements to the railway station, the creation of the Victoria Square and the refurbishment of the Queens Building was completed in 2012. Planners gave Interchange 10 the go ahead in March this year.
Councillor Bilson added: "We have had a great deal of interest in Interchange 10 from a number of different companies which demonstrates a great deal of confidence in this significant scheme. I was pleased last week to be able to welcome Greene King as our first tenant of Interchange 10 and am looking forward to work getting underway in the near future."
Rob Mason, Development Director at Neptune, said: "Starting work on this important development will help maintain the momentum of the overall Interchange project and send out a strong message that Wolverhampton city centre is a place to locate to."
- released: Tuesday 26 August, 2014