Holbrook Park Transformation: New Business Park Emerges in Coventry, Bringing Nearly 500 Jobs

By Anushka Malhotra

1 minute 37 seconds

Growth

Share:

Quick Read: The West Midlands Combined Authority (WMCA) announces the completion of the Holbrook Park transformation, a rejuvenated business park on the former Meggitt aerospace site in Coventry. Backed by a £24 million investment, the project provides 31 industrial units, anticipating nearly 500 jobs, contributing to regional economic growth and redevelopment success.

In a significant development, the West Midlands Combined Authority (WMCA) has unveiled the completion of the Holbrook Park transformation, a dynamic business park situated on part of the former Meggitt aerospace site. This ambitious project, backed by a substantial £24 million investment over two years, has breathed new life into the derelict site, contributing to the region's economic revitalization.

Photo: Andy Street, Ed Bradburn, Rob Watts, and Dan Powers, Photo Credits: WMCA

Holbrook Park now features 31 industrial and warehouse units spread over 12 acres, offering a prime business environment for companies looking to establish a presence in the heart of Coventry. Already witnessing occupancy in some units, the business park is projected to host nearly 500 jobs once fully leased, fostering employment opportunities and contributing to the local economy.

The Meggitt site, which had been largely unused since the aerospace company's relocation to Ansty four years ago, has undergone a remarkable transformation. The collaboration between WMCA and urban logistics property developer Chancerygate has resulted in a vibrant business hub that repurposes and revitalizes industrial space.

Andy Street, Mayor of the West Midlands and WMCA Chair, expressed enthusiasm about the successful regeneration effort, emphasizing the positive impact on the community. "It’s wonderful to see how this WMCA investment has been able to breathe new life into this large and landmark site. This new business park is yet another example of how we’re successfully regenerating these sorts of derelict industrial sites," stated Street.

The Holbrook Park project aligns with WMCA's broader strategy of revitalizing derelict industrial sites in collaboration with the private sector. Through strategic investments, the authority aims to create affordable, energy-efficient spaces for businesses and homes while generating job opportunities for the local population.

As part of the ongoing efforts to maximize the potential of the former Meggitt site, planning permission has already been granted for an additional 500 new homes on a separate section of the land. The multi-faceted approach to redevelopment showcases the commitment to sustainable growth and community development in the West Midlands.

The success of Holbrook Park stands as a testament to the power of public-private partnerships in driving regeneration initiatives. The newly transformed business park not only represents a beacon of economic growth but also contributes to the preservation of greenbelt spaces for future generations.

What's new

West Midlands Health Tech Innovation Accelerator Unlocks Nearly £50M in Private Investment

The West Midlands Health Tech Innovation Accelerator (WMHTIA), led by the University of Birmingham, has generated an impressive £49.4 million in private co-investment within its first two years, significantly surpassing its original £14.5 million public funding allocation.

Funded through the Innovation Accelerator programme, coordinated by Innovate UK, the Department for Science, Innovation and Technology, and UK Research and Innovation, WMHTIA has become a leading force in advancing health technology innovation across the region.

The majority of the private investment—£36.3 million—was directly committed by investors to enterprises supported by the Accelerator. This achievement represents a threefold return on the initial public investment, demonstrating the strong investor confidence in the region’s health tech sector.

Powering Health Innovation Through Collaboration

The WMHTIA brings together 21 partners from academia, industry, and the NHS to help healthtech companies develop, validate, and commercialise cutting-edge medical technologies. So far, companies supported through the programme have also secured an additional £10 million in national public grants from agencies including NIHR, Eureka, and Innovate UK.

Including both public and private contributions, the total investment leveraged by WMHTIA now stands at £67.3 million.

Professor Adam Tickell, Vice-Chancellor, University of Birmingham:

We’re proud to support startups through the riskiest stages of innovation so more life-saving technologies reach patients. This exceptional investment proves what’s possible when academia, the NHS, and industry work together to drive economic growth and better health outcomes.

In March 2025, the Innovation Accelerator programme was extended with a further £30 million, including £4 million for the WMHTIA to continue supporting the region’s innovators in 2025/26.

Backing the Future of Health Tech

Richard Parker, Mayor of the West Midlands:

The West Midlands is leading medical tech innovation—from faster diagnoses to shorter hospital stays. Healthtech isn’t just improving lives; it’s creating secure, high-value jobs that drive inclusive growth.

Dean Cook, Executive Director of Place and Global, Innovate UK:

This programme shows how place-based innovation can unlock greater business investment in R&D. By connecting the region’s strengths, we’re creating high-value jobs and building globally significant innovation capability.

The WMHTIA continues to strengthen the region’s reputation as a national hub for health technology, with far-reaching benefits for patient care, job creation, and regional economic development.

By Anushka Malhotra

24 Jun