Coventry City Centre South
Coventry City Centre South is a residential led, mixed-use development in the heart of the city that will deliver up to 1,500 new homes alongside significant commercial and placemaking development.
OPPORTUNITY
The scheme, which has outline planning consent, will be delivered in phases from 2024 onwards. The developer, Shearer Property Regen Ltd, is a JV partnership between the Hill Group and Shearer Property Group with Hill Holdings acting as the scheme funder to bring forward the scheme, focused on the delivery of new residential development across a mix of tenures.
City Centre South marks the next stage of the ongoing regeneration of Coventry’s city centre. The 69,000m² site takes in Bull Yard, Shelton Square, Market Way, City Arcade and Hertford Street.
Promoter: Shearer Property Regen Ltd
Scale: £450m+ GDV
Sector: Residential led, mixed city centre uses
Location: Coventry City Centre
Investment Type: Range going forward
Programme: Delivery: 2024 onwards
Planning Status: Outline Planning Consent, Listed Building Consents, S73 Minor Material Amendment Consent and Compulsory Purchase Order Confirmed
Website: www.coventrycitycentresouth.co.uk/
BACKGROUND
Hill is the second largest privately owned residential developer in the country and is responsible for significant residential delivery throughout the south-east of England and London. Shearer Property Group has a proven track record of delivering mixed-use development including Southgate Centre Bath, Grand Arcade Cambridge, the Former Dickins & Jones Department Store in Regent Street London and Parkway, Newbury.
Located in a strategically important location close to the railway station and the Friargate Business District, City Centre South will deliver an ambitious multi-million pound mixed-use urban regeneration scheme transforming both the quality of Coventry’s residential, retail and wider city centre offer and the surrounding physical environment/public realm.
Coventry City Council has secured a £98.8m grant from West Midlands Combined Authority to support the scheme and is also providing an additional £32.75m of grant funding itself. The Compulsory Purchase Order for the scheme was confirmed in April 2023.
DESCRIPTION
The outline planning consent, alongside a S73 Minor Material Amendment Consent in January 2023, sets out minimum and maximum development parameters for residential, commercial and other uses, provides the platform for the delivery of transformational benefits, including the delivery of a range of homes and a new vibrant shopping and leisure experience within a significantly enhanced public realm environment. This will lead to the creation of many hundreds of new permanent jobs.
PROMOTER AND PARTNERSHIPS
Shearer Property Regen Ltd is leading the project and working in partnership with Coventry City Council and West Midlands Combined Authority.
LOCATION
The 11th largest city in the UK, full of potential in a great central location, only one hour from London Euston and 10 minutes from Birmingham Airport and the proposed HS2 Interchange.
A young and vibrant city attracting new investors with continuous development and regeneration. The city has two world renowned universities, over 67,000 students and is famous for its culture and creativity.