Widnes Regeneration, the joint venture between St Modwen Properties and Halton Borough Council, has acquired the 12-acre former Croda Chemicals site in Gorsey Lane, Widnes, which closed 18 months ago.
The Croda site will be added to an adjoining 20-acre site owned by Halton council to create an industrial and distribution park. The Widnes Waterfront area is one of 14 Economic Development Zones in the North West, backed by the European Regional Development Fund and the North West Development Agency.
Richard Bakes, development manager of St Modwen, said: "These two parcels of land together with Heron Business Park, where we are considering a second phase, takes Widnes Regeneration's land holdings for employment projects within the Economic Development Zone to 40 acres.
"This is in addition to the joint venture's £10m The Waves leisure centre project, which is expected to be open by the autumn of 2008 and will provide major family-orientated facilities in the town."
Demolition on the Croda site is expected to begin shortly to allow an extensive site investigation to determine the level of contamination and the subsequent remediation strategy. As part of the acquisition deal, Croda agreed to make a capital contribution towards remediation works.