If I remember rightly the industrial buildings are a group of warehouses that are currently out of use.This seems to be a 2013 application for funding, not sure if this is exactly what has been agreed:
http://www.business-central.co.uk/cms/pdf/2. Parkway WLTB Bid.pdf
The mention of access from the B4084, footbridge to the Birmingham platform and diversion of two public rights of way suggests that the station will be to the north-east of the bridge where the two lines cross. South-east is also possible but less likely, because north-east would adjoin an existing industrial-type building west of the railway and so reduce impact on green spaces. As the Cotswold single line is on the north side of the formation, the platform for a north-east option wouldprobably not block any future doubling. There is also a second span on the bridge to the east of the Birmingham-Gloucester line (provision for an unlikely four-tracking?) which may mean a second footbridge is not needed if the Cotswold line is ever re-doubled.