DY5, Dudley Borough’s Enterprise Zone
DY5 Innovation Enterprise Zone offers investors/developers new opportunities in mixed-use Industrial, Residential and Office developments.
OPPORTUNITY
Dudley Council is seeking investors to work in partnership with existing land owners to bring forward new industrial, office, retail, residential and mixed-use development within DY5 Enterprise Zone. The promoter particularly welcomes interest in establishing long-term development partnerships.
Dudley Council is working to deliver refurbished floor space and new mixed-use development across six areas. There is a strategic opportunity to help shape the nature and usage of the projects at an early stage, over the next three to five years.
Promoter: Dudley Council
Scale: £100m+ GDV
Sector: Mixed use Industrial, Residential and Office
Location: Dudley
Investment Type: Development partner, Equity investor
Programme: 2022 - 2027
Planning Status: Planning certainty provided via a Local Development Order and an outline design led masterplan signalling use, type and suggested development density
Website: www.dudleybusinessfirst.org.uk
BACKGROUND
DY5 covers 50 hectares, with six main areas offering office, technology, leisure and residential high density mixed-use development opportunities all within an attractive waterfront location. It has already attracted millions of pounds of new investment and has delivered new speculative industrial development. Further investment is now required to deliver future commercial and residential opportunities.
The enterprise zone is set to benefit from major infrastructure investment, improving connectivity and adding to the attractiveness of the area. The Wednesbury to Brierley Hill Metro Extension will provide a direct link to Birmingham and the wider West Midlands by 2024 as part of the phase 1 development.
The enterprise zone is also home to a new Music Institute, ‘Resonance’, which opened in 2021, providing degree qualifications in a range of specialisms linked to the music industry, including sound production, lighting and staging. In addition, the Merry Hill Shopping Centre which straddles the DY5 Enterprise Zone at the Waterfront, Brierley Hill is seeing some £50 million investment in the upgrading and expansion of the experiential retail and leisure offer.
DESCRIPTION
DY5, created in 2017, includes exciting new investment opportunities for residential, office and mixed-use development. It can offer streamlined local authority planning support and potential to access land remediation funding for new development.
Investment options in the six areas include: Waterfront: 8 hectares comprising existing commercial office space suitable for refurbishment and potential residential conversion.
Archill: 17 hectares with potential for a mixed-use office, leisure and residential development.
Harts Hill: 2 hectares with potential for industrial development.
Canal Walk: 7 hectares with potential for a residential led mixed-use development.
Blackbrook Valley: 1.5 hectares with potential for industrial development.
PROMOTER AND PARTNERSHIPS
The promoter, Dudley Council, is bringing forward the sites working closely with West Midlands Combined Authority and private sector partners.
LOCATION
Dudley borough is undergoing an exciting transformation with over £1bn
of investment on site or planned for development in the coming years. It is the historic capital of the Black Country, a region located in the heart of the West Midlands and the centre of the UK. It is close to the M5 and M6 Motorways, just 13 kilometres from Birmingham City Centre and within easy reach of Birmingham Airport.