Tata Steel sold its 99-acre West Works site in Corby, says will use the proceeds of the sale of USD 15 million (approximately) to develop one of its warehouses on the East Works into a world-class complex of offices, stores and engineering workshops, along with upgradation of a tube finishing line.
Jun 13, 2024
Tata Steel recently sold its 99-acre West Works site in Corby, which had become redundant over the years. The company said in a statement that it will use the proceeds of the sale of USD 15 million (approximately) to develop one of its warehouses on the East Works into a world-class complex of offices, stores and engineering workshops, and for the upgradation of a tube finishing line.
The sale has been facilitated by Warmflame Developments (WD) who have worked with Tata Steel UK for the last seven years to progress the sale of the hugely complex 99-acre site to a leading real estate developer – that’s the equivalent of about 62 football pitches. The end use of the plot will be a fully-serviced campus-style logistics hub.
Paul Hodge, Managing Director at WD, said: “It is great to see so much hard work finally come to fruition, and it’s especially rewarding to contribute to the steelworks—which is synonymous with Corby—moving into the next phase of its lifecycle.”
Gary Blackman, Tata Steel’s Works Manager for Corby added: “We are already well progressed with a £30 million investment programme in Corby – one of the largest in the site’s history. The sale of the old West Works land will now fund the regeneration and development of one of our warehouses on the East Works into a world-class complex of offices, stores and engineering workshops, and upgrade one of our tube finishing lines.”
This new building will be clad with over 18,000m2 of Tata Steel’s own Trisomet® insulated wall and roof panels, which will enable faster installation and give optimum performance for water drainage and strength.
The sale of the land will fund the regeneration and development of a world-class complex of offices, stores and engineering workshops, and upgrade one of our tube finishing lines.”
Gary continued: “It is a hugely exciting time to be involved in steel at Corby – we aim to be the country’s first net-zero steel factory. Partnerships with companies such as with Warmflame Developments, and good relationships with the local council, really do contribute to the sustainability and growth of a key industry in the town, which will support exciting employment opportunities for generations to come.”
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David Burns, Construction Director at WD, said: “I’m very proud of our team as the complexities of this project were significant, having to manage a phased enabling of the site whilst transitioning some of Tata Steel’s existing operations from the West Works to its retained land in the east.”
Stuart Mair, Development Director at WD commented: “We are delighted to have concluded this deal with Tata Steel. The regeneration of the brownfield site will help boost the local and regional economies, enhance future employee skills and generate high-quality jobs. This investment in Corby is yet another great vote of confidence in both the Corby and Northamptonshire logistics markets.”
