Car manufacturer confirms it has sold the site of its former plant in Coventry to a property developer which says hundreds of jobs could be created by new businesses.
The French company announced it has exchanged contracts for the sale of the 140-acre Ryton site to Trenport Investments, a London-based developer.
The Ryton plant closed in January when Peugeot moved production of its 206 model to Slovakia, with the loss of 2,300 jobs - bringing to an end over 60 years of car production on the site.
Trenport's managing director Tony Parson said: "Our immediate aim is to develop opportunities for several hundred jobs and to achieve diverse business opportunities in the future that will bring more employment and wide-ranging economic benefits to the area.
"We expect to commence this process immediately upon completion of the purchase on April 16."
A spokesman for Peugeot said: "We are satisfied that the prospective owners of the Ryton site plan to make commercial use of the property contributing to the local economy and the employment market."
Early proposals for the site including using it as a base for warehousing and distribution.
