Planning permission to transform the former Marks & Spencer building on Dudley Street in the heart of Wolverhampton into apartments and retail units has been given the go ahead.

Approval for the joint venture regeneration project between Nottingham based ALB Group and Birmingham based Prosperity Group was given on Monday 5 January 2026.

The landmark building is now destined to provide 71 contemporary apartments on the upper floors while the ground floor will be reconfigured into 3 high quality retail units ranging from 1,200ft2 up to 7,000ft2. The retail space is aimed at attracting a mix of independent and national occupiers.

Arran Bailey, managing director at ALB Group declared the planning decision a major step forward in reinvigorating this prime shopping location in the city centre.

He said: “I’m delighted at the decision. This building has been part of Wolverhampton’s story for generations, and we’re determined to ensure it has a meaningful future.  

“We’d like to thank the City of Wolverhampton Council, planners and professionals for their support of this project. Their collaborative approach has enabled us to put forward a scheme that will not only breathe new life into the landmark building but also fill the need for good quality city housing.”

Now that planning has been approved, works are expected to commence swiftly.

Joe Billingham, founder and CEO at Prosperity Group, said: “We are excited to be joint investors in this development and witness the opportunities that it will bring to the city.  

“There has already been strong interest in the apartments from young professionals, reinforcing our research that identified clear demand from this segment of the local and wider employment base.  

“Wolverhampton is an easy commute from Birmingham, making it an increasingly attractive option for young professionals who have been priced out of the market.”

Prosperity Group work throughout the Midlands and across the UK with standout projects including Smithfield and JQ Rise in Birmingham. This is the fifteenth collaboration the firm has undertaken with ALB Group.

Joe said: “The building in Dudley Street is a lovely heritage landmark that will convert well into spacious apartments. The local authority has been so supportive in getting the plans for this project to fruition quickly with the objective of filling residential demand in the area.

"The regeneration plan we submitted is not only right for the building and the area, but will also be instrumental in job creation.”

M&S first opened within the iconic building in 1929 closing after almost a century on 27 September, 2025, as part of the retailer’s national strategy to shift towards more food led outlets.

Richard Parker, Mayor of the West Midlands, added: "This is exactly the kind of regeneration Wolverhampton, and our local high streets, need. It reinvigorates a landmark building while meeting a real housing gap and putting more people back into the heart of the city.

"More homes in the town centre means more footfall for local businesses, more life on the high street and a stronger city centre economy.

"I'm impressed by these plans and look forward to seeing the project develop. This is how we renew our town centres in a way that works for local people."

ALB Group, which is hugely experienced in repositioning underused retail assets, have delivered numerous successful schemes nationwide. The repurposing of this long vacant department store fits into its mission to rejuvenate prominent but underused high street properties across the UK.

The project is expected to boost footfall, support local employment, and contribute significantly to the ongoing regeneration of Wolverhampton’s retail core.

Arran added: “By creating a mixed use blend of homes and retail, we’re helping build a more sustainable and vibrant city centre. We’ve done this successfully across the UK, and Wolverhampton is exactly the kind of place where regeneration can make a real difference.”

Strong interest in the apartments has already been expressed, alongside enquires from regional and national retailers.

Home Values is currently a temporary tenant in the ground floor space.