Nearly 500 jobs are set to be based at new Coventry business park following £24m investment, it has been revealed.

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,” the West Midlands Combined Authority (WMCA) announced.

The WMCA stated they had put nearly £24m into the regeneration of the derelict Meggitt site off Holbrook Lane over the last two years, 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.

Although the new business park occupies just one section of the 65-acre former Meggitt site, planning permission has already been granted for 500 new homes on another part of the land.

Meggitt’s former company playing fields, which occupy another part of the site, are reportedly being kept as “open space for the local community” with another plot to be retained by Meggitt as a carbon brake facility.

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.”

(Visited 133 times, 1 visits today)