£300m plan to transform Coventry
The £300m plan to redevelop Coventry city centre is set to take a step forward with the release of a detailed blueprint.
Coventry City Council has been working in partnership with Aviva – another major city centre landowner – on the proposals to increase the existing retail space by about 70 per cent to more than 443,000 sq ft.
The plans, which will be submitted for outline approval, include a new 120,000 sq ft anchor store, a 1,200-space car park, cinema complex, hotel, apartments and new and refurbished retail units.
A special event at property conference exhibition MIPIM will showcase the proposals in March which the council hopes will attract development company partners.
"This blueprint gives a real feel for the way the area will be developed," said Councillor Linda Bigham, cabinet member for city development at the city authority.
"It builds on our work already underway in Broadgate and on the Station to Bull Yard route which was always aimed at kick-starting the regeneration of our city centre. And, critically, it is firmly rooted in the ten priorities set by local people as part of the Jerde vision.
"I believe that this is the beginning of one of the most exciting transformations our city has seen in 50 years – it is what people have been asking for and, importantly, it is a deliverable plan."
Coventry ranks 49th in the country's retail rankings by expenditure, despite being the 11th largest city in the UK, according to Experian's 2010 figures.
In 2010, the figures show shoppers spent £510m over the year, compared with £1bn in Cardiff – the 12th biggest city – and £1.8bn in Nottingham – the 14th biggest.
