Coventry City Council and Wigley Group have struck a deal with Rainier Developments to regenerate Sandy Lane Business Park and Sandy Lane Industrial Estate, located north of Coventry Canal Basin.
The scheme, which is likely to include new homes and commercial space, has a gross development value of £70m.
The former Daimler car factory site has been owned by Wigley Group since 2006. The firm has already transformed the site’s derelict Daimler Powerhouse to create a £2.4m creative hub, which supports artists across the region.
Rainier, a Warwickshire-based developer, will hold discussions with Coventry City Council and conduct a public consultation process before submitting a planning application.
Richard Mees, chief executive at Rainier, said: “We will bring forward proposals which will enhance the local economy and provide value for the city and community.
“Wigley Group has made progress promoting the site for regeneration, not least bringing Daimler Powerhouse into use as a creative hub. We will build on this legacy as we review the vision for the site.”
Image from Rainier Developments
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