St. Modwen has purchased a factory on Victoria Street,
Hednesford, from automotive re-manufacturer ATP Industries Group,
in a deal which unlocks the development potential of the £50
million Hednesford Gateway scheme in Cannock Chase,
Staffordshire.
The factory on Victoria Street will be demolished to clear the
way for future development when ATP Industries Group relocates to
an alternative site. Following the demolition programme, a new
80,000 sq ft foodstore will be constructed on the Victoria Street
phase of the Gateway scheme, subject to planning
approval.
The Hednesford Gateway scheme comprises two sites, representing
two distinct phases - Victoria Street and Rugeley Road. St.
Modwen's proposals for the project include a total of 48,000 sq ft
of non-food retail space, a 17,500 sq ft discount foodstore, new
community facilities and a new 648 space car park. The scheme will
also see St. Modwen relocate the existing Hollywood Bingo Club and
Drill Hall on Victoria Street to new purpose-built premises.
St. Modwen has also signed a development agreement with Cannock
Chase Council for the Hednesford Gateway scheme, putting the
developer and the Council in pole position to undertake one of the
most significant regeneration projects in the town's history.
Mark Watkins, development surveyor for St. Modwen, said: "The
strategic acquisition of ATP Industries Group's factory puts St.
Modwen in a strong position to deliver on the £50 million
vision for this key regeneration scheme, signalling the start of a
new era for Hednesford. Working closely with Cannock Chase
Council and other local stakeholders, St. Modwen is committed to
securing a prosperous future for this area of the town, creating
the right conditions for growth and assisting in the creation of
new jobs.
"Last year we agreed a deal with a national operator for a new
foodstore which will anchor the Gateway scheme, and we are now well
placed to progress this major new facility.
"When ATP Industries Group identifies a new site and relocates
its operations, we will commence demolition and ground clearing
works, with construction of the new foodstore set to get under way
as soon as possible after planning permission has been
secured."
For ATP Industries Group, the deal with St. Modwen represents
the start of a new chapter in its history. Alan Smart,
chairman and chief executive, explained: "Since locating in
Hednesford in 1983, ATP Industries Group has built up an incredibly
successful worldwide company from our Victoria Street base - 2009
was actually our 40th year in business.
"The approach from St. Modwen to acquire our site as part of the
Hednesford town centre regeneration plan has meant that we will
need to relocate our existing operations. To that end we have two
priorities, firstly to find premises within the region in order to
retain our specialist workforce who live in and around the area;
and secondly to continue to provide a quality, highly responsive
service to our international clients in order to continue our
growth, thus offering further employment opportunities to local
people."
Cannock Chase Council has been working with St. Modwen as its
regeneration partner for the Gateway scheme for a number of years.
Neil Stanley, Leader of the Council explained the significance of
the completed development agreement and the ATP Industries Group
deal for the landmark project. He said: "No one should
underestimate the time, effort and commitment required to deliver
major regeneration schemes. In the current economic climate
it is incredibly important to find ways of unlocking the
development potential of sites in order to move regeneration
forward.
"St. Modwen has achieved this here in Hednesford with this
strategic acquisition, and we are hopeful that this latest deal
will finally allow the new shopping schemes to be delivered,
providing better facilities for local people and visitors, and
acting as a catalyst for further inward investment for the town.
Additionally, the development agreement between the Council and St.
Modwen is a clear demonstration of our commitment to Hednesford's
regeneration, despite the current economic climate."