Grosvenor Group, through its Indirect Investment business, is one of three partners in Four Ashes Limited (FAL), alongside Kilbride Holdings (the project leader), a company specialising in rail infrastructure to serve business and industry, and Piers Monckton, the principal land owner.
FAL has submitted a Development Consent Order (DCO) for the West Midlands Interchange (WMI), a proposed new strategic rail freight interchange (SRFI) in South Staffordshire, which is to be examined by the Planning Inspectorate (PINS).
The site is uniquely located for an SRFI in this part of the West Midlands. The proposed development includes up to 743,200 square metres of warehousing is adjacent to Junction 12 of the M6. The site will have direct connections to the West Coast Mainline, one of the few routes in the UK that can accommodate the transfer of larger 9’6” freight containers between road and rail.
The WMI proposals directly respond to national strategy and the needs of the region comprising the West Midlands, the North Black Country and South Staffordshire, which has been identified as one of the best locations in the West Midlands for an SRFI for over a decade.
The proposed scheme has been designed to:
- Increase the efficiency of freight distribution, taking freight traffic off motorways and trunk roads and onto the rail network.
- Reduce CO2 emissions emitted by freight transport; rail freight produces up to 70% less CO2 and up to 15 times lower noxious emissions than road freight tonne for tonne.
- Boost economic growth through its location in the M54 Wolverhampton – Staffordshire High Growth Zone; the scheme will create 8,550 direct jobs, boosting opportunities for people in South Staffordshire, the Black Country and other surrounding areas.
- Generate £427m of local economic activity each year and, through the supply chain, create £912m per annum of economic activity nationally.
Grosvenor Group’s Indirect Investment business works to diversify the company's property portfolio by backing specialist third party managers in sectors and countries that complement the activities of the Group's four regional Operating Companies. The WMI gives the Group exposure to the active rail freight and industrial/logistics sectors in the UK, alongside investments in the industrial sector elsewhere in the UK through IO Asset Management as well as industrial/logistics investments with other specialist third party managers in the US and continental Europe.
For more information contact:
Linda Taylor / Paul Moore - 0117 929 0366.
Notes to Editors
About West Midlands Interchange:
The DCO application was submitted to PINS on 03 August 2018. On 24 August PINS concluded that the application has met its standards and the application will now go forward for examination.
The submission documents and further information on the PINS process can be found on the PINS website here: https://infrastructure.planninginspectorate.gov.uk/projects/west-midlands/west-midlands-interchange/
For more information about WMI, visit www.westmidlandsinterchange.co.uk.
The WMI proposals are made up of:
- An intermodal freight terminal with direct connections to the West Coast Main Line, capable of accommodating up to 10 trains per day and trains of up to 775m long including container storage, Heavy Goods Vehicle (HGV) parking, rail control building and staff facilities;
- Up to 743,200 square metres (gross internal area) of rail-served warehousing and ancillary service buildings;
- New road infrastructure and works to the existing road infrastructure;
- Demolition of and alterations to existing structures and earthworks to create development plots and landscape zones;
- Reconfiguring and burying of electricity pylons and cables; and
- Strategic landscaping and open space, including alterations to public rights of way and the creation of new ecological enhancement areas and publicly accessible open areas.
About Grosvenor Group:
Grosvenor Group is one of the world’s largest privately-owned property companies. We develop, manage and invest in property in more than 60 cities around the world.
Through the activities of Grosvenor Britain & Ireland, Grosvenor Americas, Grosvenor Asia Pacific and Grosvenor Europe we diversify the Group’s property portfolio by geography, sector, activity, currency and management teams.
Our Indirect Investment business further diversifies the Group’s property interests beyond the expertise and strategies of our four regional Operating Companies. It invests Grosvenor’s capital in Africa, Australia, Europe and North and South America.
Grosvenor Group’s purpose is to deliver lasting commercial and social benefit. To live up to this ambition, for over 10 years we have adopted an approach we call 'Living cities' which aims to guide and inspire our property activities.
Achieving strong commercial returns enables our activities to be enduring. Applying our expertise with a far-sighted perspective to improve properties and places provides a positive impact on communities, neighbourhoods and cities.