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Interchange Commercial District in Wolverhampton

A chance for developers and investors to get involved with the Interchange Commercial District area in Wolverhampton, via a range of investment and delivery structures.

There are multiple strategic sites all offering the opportunity to build upon the success of the new and developing Interchange Commercial District in Wolverhampton.

Key opportunities include Interchange 8, Steam Mill and Sackworks, as part of a potential 1 million square feet of new commercial space.

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Location:

Wolverhampton, West Midlands

Investment type:

Capital investment - real estate

Sector:

(Greener buildings, Real estate, Offices, Retail, leisure & creative)

Project promoter:

City of Wolverhampton Council, Canal & River Trust and ION Developments

Scale:

£250 million GDV

Planning status:

Planning application to be submitted

Time to Final Investment Decision (FID):

1-2 years

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Bob Van Aartsen

Senior Investment Specialist

Contact the opportunity lead

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Sector and market opportunity

The city has the potential to grow its office offer around the area of the transport interchange by up to 93,000 square metres over 10 years. This would allow the city to capitalise on its location and connectivity, since Wolverhampton is a significant commercial gateway in the Midlands.

Located at Interchange and only minutes away from the city’s new public transport hub, Interchange 8 is the city’s largest office development. It is aiming for the best environmental credentials of any building in Wolverhampton.

Building on the success of i9 and i10, Interchange 8 will offer flexible floorspace designed around today’s office requirements. It’ll also deliver net zero carbon design.

Location

There will be an extension to the city centre less than 5 minutes’ walk from the site. This will offer residential, leisure and commercial opportunities in a heritage setting.

The historic canal, railway viaduct and associated Victorian buildings provide a rich multi-layered area within the site.

Connectivity

Transport to all the sites will be excellent. The Interchange area is undergoing a £150 million transformation to create an integrated commuter hub.

The plans include a modern railway station which will handle over 4.7 million passengers a year, extended metro services, and improved facilities for cyclists and motorists. A new multi-story carpark was completed in 2017.

Redevelopment of the station began in December 2017 and enabling works for the tram extension are nearing completion. Critically, improvements to the City of Wolverhampton station will provide direct access into the High Speed 2 (HS2) network.

Local talent and skills

The Department for Levelling up, Housing and Communities has confirmed the i9 building would become its new regional base. The move to the city will create at least 150 new jobs - some staff have already been hired, while recruitment is under way for other positions.

There are 1.73 million people living within a 30-minute drive of the centre of Wolverhampton and the city is also one of the first 5G connectivity test beds in the UK.

Wolverhampton is a prime location for investment. There are 10,000 new homes planned in the surrounding areas and the added potential for another 1 million square feet of office space. There are opportunities in retail, leisure and hospitality, plus an enviable portfolio of heritage buildings in the area.

Further details

The Interchange project is the next phase of a successful city centre regeneration programme.

There are a range of investment opportunities and the promoters welcome interest from developers and investors. They’re also open to discussing possible investment and delivery structures.

Steam Mill and Sackworks are 2 key sites neighbouring the city’s new railway station.

They offer the ability to unlock the potential of the site as a legible, permeable and well-connected place accessible to the wider community. They can also enhance the character of the Union Mill conservation area, as well as deliver new commercial office and leisure floorspace that links the transport Interchange with the wider canal side corridor.

Environmental, social and governance (ESG) highlights

The i9 development is the first office building in the Black Country region to be awarded WiredScore Gold certification in recognition of its digital connectivity and infrastructure.

Promoters and partnerships

The City of Wolverhampton Council is the promoter in partnership with:

  • Avanti West Coast Trains
  • Canal & River Trust
  • Homes England
  • Ion Development
  • Midland Metro Alliance
  • Network Rail
  • West Midlands Combined Authority
  • West Midlands Rail

Local and national government support

This opportunity is supported by the West Midlands Combined Authority, West Midlands Growth Company and Wolverhampton City Council.

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