Work to start at Solihull village centre
The North Solihull Partnership is expected to start work on its first village centre project in late 2011, parent company Sigma has revealed.
Planning permission has been obtained for the development, which is a retail and office building of 30,000 sq ft.
The partnership was created to regenerate the entire North Solihull area of about 1,000 acres over a 15- to 20-year period. Plans provide for approximately 8,125 new homes, five new primary schools, four fully refurbished primary schools and five new village centres with retail, commercial, health and community uses.
The North Solihull Partnership was formed between Solihull Metropolitan Borough Council, Bellway Homes, Whitefriars Housing Association and Inpartnership.
Sigma bought Inpartnership, which was founded in Manchester and operates extensively in the North West and West Midlands, in August 2011 for £347,000.
Sigma, which posted revenue of £1.6m for the six months to 30 June 2011, said that it intended to invest into the "specific projects" in the second half of the year.
David Sigsworth, chairman, said: "Sigma has delivered a materially enhanced performance for the first six months to 30 June 2011 compared to the same period last year.
"Sigma is now in better shape than in recent years. The opportunities in our property division have been revitalised and we will be working hard to drive them forwards.
"We have strong cash balances and have much greater visibility on our opportunities than ever before. We see 2011 as a year of consolidation and enabling us to build a strong platform for an exciting 2012.
"We cannot however ignore the return of great uncertainty in the markets generally and the inertia that brings and so continue to take a cautious view of costs and delivery."
