With two multi-million pound developments on the horizon, a Midland’s city is preparing its annual visit to the world’s largest commercial property show with “its most optimistic message for the last five years”.
Last year Coventry — which has attended the MIPIM property expo for more than two decades — was joined at Cannes by a delegation from Warwickshire. The city council teamed up with businesses and development companies to form the privately funded MIPIM Coventry and Warwickshire Partnership.
“MIPIM gives us, along with a number of our key partners in the private sector, the opportunity to talk to a wide range of potential investors in our city,” the partnership’s website explains. “And by providing an impressive joint approach to we are making a powerful case for inward investment.”
Work on a £59m scheme to build the city council’s headquarters and an adjoining landscaped “boulevard” leading from the railway station to Greyfriars Green will start in March, just days before MIPIM opens for its 25th anniversary gathering. The entire development will be phased over 15 years and carried out by Friargate Coventry LLP.
In a second major project, Queensberry Real Estate has been named as the preferred partner for the City Centre South redevelopment of the Bull Yard, Shelton Square and City Arcade areas to include 52,000 sq metres of new shops, a major store, cinema complex, hotel, 40 luxury apartments and a multi-storey car park.
“There is a tremendous amount of development happening or about to happen in the city and in the county and that gives us a very strong message to what is the most powerful property audience there is,” said Lynnette Kelly, Coventry City Council cabinet member for business, enterprise and employment.
“A great deal of preparatory work has been going on over recent years when the market has been through tough times but that means now, as hopefully there are tangible signs of improvement, we are at the perfect stage for those plans to start coming to fruition.
“With Friargate starting, very positive development and job creation at Ryton, and the City Centre South scheme progressing, we have plenty of momentum and our presence at MIPIM is one way to exploit that,” she added.
“Accordingly we will be going to MIPIM with a very positive and optimistic story about the city and the county and what we have to offer inward investors — probably our most optimistic message for the last five years.”
Celebrating its 25th year, MIPIM brings together the most influential participants from across the property sectors while offering access to numerous development projects and sources of worldwide capital.
“MIPIM aims to provide an international platform for industry leaders to connect, and do real face-to-face business,” explains director, Filippo Rean. “Through its internationally rich exhibition floor and comprehensive programme of conferences and events, MIPIM allows participants to find new partners, close deals, discover new projects and gain insight into the latest global market trends.”
The 25th MIPIM expo takes place at the Palais des Festivals, Cannes 11th -14th March.
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