We were appointed by Shearer Property Group (SPG) in 2015 to provide development consultancy advice for the transformation and regeneration of 15 acres (the equivalent of 9 football pitches) of Coventry City Centre, known as City Centre South (CCS). This site was deemed no longer fit for purpose to meet today's evolving consumer demands on high street and town centre destinations, so a new mixed-use commercial property and residential scheme was sought. SPG were selected by an OJEU process in 2017 and awarded preferred developer status.
The winning proposal contained a mix of department stores, retail property, food and beverage, leisure and significant residential.
At the time, Coventry was growing significantly in stature as in 2017 it was announced as the 2021 City of Culture.
Almost as soon as we kickstarted the project, having been awarded CCS in 2017, the retail market started to dramatically change with the likes of House of Fraser falling into administration and the fundamentals of town centre development as we knew it being torn apart. This also marked the start of the reset of town centre retail property values.
Whilst the residential and non-retail elements were generally unaffected by this market change, it presented us with the opportunity to reimagine the retail and leisure components of Coventry City Centre, in the midst of what has turned out to be one of the most exciting periods of change to town centres for decades.
At the centre of our initial proposals was “The Pavilion”, a landmark anchor building that would encompass a dynamic variety of pop-up retail and leisure providers. This would allow the mix of uses to change and evolve to promote new local independent initiatives and artisans, together with space for public events and interactive community activities. This was an initiative that MMX were at the heart of driving forward.
Fast forward four years and the development gained planning consent in mid-2021 for key elements of this £500m project including:
• 400,000 sq ft of commercial uses including:-
• 1,300 new homes.
However, just as important as these spaces, is the quality public realm that the 12 building blocks will be formed around.
The CPO is now well underway and construction is timetabled to commence in 2023.
Enter your email address to subscribe to our property email alerts.
Enter your name and email address below to subscribe to our property email alerts.
