Legal & General Modular Homes (LGMH) have been selected as preferred developer for the major Wolverhampton residential Canalside South scheme.
LGMH has been selected by the City of Wolverhampton Council as its preferred developer from a strong field of contenders for one of the largest city centre residential development opportunities in the Midlands.
The Council has now entered into an exclusivity agreement with LGMH, to build around 400 new homes, subject to planning approval, at Wolverhampton's Canalside South – a former industrial site benefiting from frontage onto the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal. Precision-engineered in LGMH's modular factory in Leeds, every modular home will include an air source heat pump, PV panels and electric vehicle charging point as standard – all supporting the city's climate change commitment to be net carbon neutral by 2041.
In the current cost of living crisis, a LGMH home will have a major impact on individuals energy bills as the homes are 60% more efficient to run for the homeowner than a Building Regulation compliant newbuild home and the apartments are up to 30% cheaper to heat and run than the average apartment. The 17-acre waterfront development opportunity sits on the eastern edge of the city centre and is made up of the Canal & River Trust-owned former Crane Foundry site, and the Council's former British Steel site and its land off Qualcast Road – all brought together under a collaboration agreement designed to ensure a comprehensive development takes place.
The company has committed to delivering significant social and economic benefits in accordance with the Wolverhampton Charter. This includes delivering local labour and supply chain opportunities, enhancing skills and employability, creating apprenticeships, promoting cohesion and activities within the community, and supporting health and wellbeing.
Rosie Toogood, CEO of LGMH said: "I am delighted that LGMH has been selected as preferred developer by the City of Wolverhampton Council to deliver this major residential development. In the face of a chronic housing shortage, steep energy bill increases, and a looming climate crisis deadline our mission is to reduce costs to consumers and the environment by producing the best quality homes in the most efficient way possible.
The City of Wolverhampton shares this ambition and together we are excited to deliver a first-class community for Wolverhampton and the West Midlands. This latest development further demonstrates its commitment to delivering regeneration and housing across the West Midlands, having signed a £4billion partnership agreement earlier this year with West Midlands Combined Authority (WMCA)." City of Wolverhampton Council Deputy Leader and Cabinet Member for City Economy, Councillor Stephen Simkins, added: "Legal & General has a strong background in the property sector, investing in urban regeneration, financing affordable housing and building modular homes.
We have now secured a prestigious developer with the expertise to deliver this large and exciting opportunity at Canalside South and, through our Canalside Delivery Partnership with the Canal & River Trust, we are determined to realise the scheme's full potential. Strong partnership working is delivering £4.4billion of investment across Wolverhampton - and by pooling our resources with the Canal & River Trust we believe we can bring about a nationally significant development alongside one of the most historic stretches of canal in the country." Canalside South is located minutes away from the city centre and the award-winning £150million transport Interchange, providing easy access to the tram, road, rail and canal network. The overall vision for the Canalside masterplan is the delivery of around 1,000 homes to meet both the city and wider region's housing needs, with sustainability and placemaking at its heart.
For more information visit: www.legalandgeneral.com/modular-homes
