Insider Media Limited

A development scheme that could help unblock Coventry city centre’s £1bn regeneration plans has taken a large step forward, Insider has learnt. The city council and landowner Aviva are pushing forward a planning application for a large chunk of the southern part of the city centre for a large retail scheme.

Speaking at Insider’s Coventry Economic Forum at the city’s TechnoCentre yesterday morning, Martin Yardley, the council’s director of city services and development, said: “We are looking for approval today with Aviva to enter into a planning application for that side of the city. We are looking at 600-700,000 sq ft of retail space in the first phase.

“That’s a sign of intent from a major landowner.”

The council is expected to rubber-stamp outline planning approval for a large area of the scheme which includes Market Way, the Bull Yard, Shelton Square, the Barracks car park and the City Arcade.

The Friargate scheme around Coventry train station may prove slightly harder to unblock. The 300,000 sq ft, £1.5bn Cannon Kirk development already has outline planning permission but Yardley revealed a further planning application will be going in before Christmas.

“I think Friargate is absolutely pivotal to our city centre plans. We’ve got an amazing amount of head offices in Coventry - such as E.ON and Jaguar is moving here - but not in the city centre. We need quality accommodation to attract people to the city centre,” he said.

“A further planning application will come in just before Christmas which, given the cost of these applications, is a huge vote of confidence in where we are at in Coventry.”

But Yardley did echo the view of some local property agents that the scheme needs a pre-let to get off the ground.