Walsall regeneration scheme underway

Posted: 22 Jun 2006 10:05:36 GMT

            Property News - Walsall regeneration scheme underway

A £40 million St Matthew's Quarter regeneration scheme in the centre of Walsall is set to transform the area and boost the housing market.

The first phase – a joint venture between St Modwen Properties and Goold Estates - is now underway and should be completed by May.

It will see a 118,000 square feet Asda store, a series of shops and 41 apartments, according to St Modwen. There will also be a 1,000-space multi-storey car park that will be built on the site of the former Sainsbury's store.

The second phase, meanwhile, will see 45,000 square feet of offices built in the rear of the Grade II listed Shannons Mill. The front of the building will be the site for 50 apartments, with both developments adding impetus to the local property market.

Derek West, development director of St Modwen, said: "Phase two is an exciting regeneration and re-use of the old Shannon building to create open plan, character offices and apartments, as well as bringing the George Street retail frontage back into use."

The average price of a house in Walsall is currently £141,812, with terraced properties selling at around £103,000 this year. Semi-detached houses can be bought at around £133,000, with detached going at £253,000. Flats are generally selling at around £118,000, although it is not yet known how expensive the new developments will be.

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