Shearer Property Group has selected Hill Group as its development and funding partner for the £450m regeneration of Coventry city centre.
City Centre South was granted outline planning permission in January, with the development vehicle Shearer Property Regen aiming to submit detailed planning applications and start on site next summer. Under the partnership, Hill has committed significant investment into SPR.
Hill group chief executive Andy Hill said: “We are delighted to have been selected to deliver a vibrant new district in this historic part of the city. Our experience in urban regeneration and expansion will enable us to provide an inspirational destination that appeals to residents and visitors alike. From my first visit, I was overwhelmed with the ambitions for this city, and excited by the prospect of delivering the missing ingredient – new high-quality homes that bring living back into the heart of Coventry.”
SPR is currently finalising details for City Centre South, but it is aiming to create a residential-led shopping and leisure destination.
Architect Allies & Morrison has been hired by SPR to create a scheme that “reimagines the city” but also respects and enhances its existing heritage of the city and Grade II listed buildings. Designed to aid health and wellbeing, including a combination of communal gardens and private balconies, all properties will incorporate the latest energy efficient and sustainable technology, while the development will also include healthcare facilities to support the local community.
The scheme has been designed to attract people back into the city to live, work and play, including graduate students from Coventry and Warwick Universities. As such CCS will offer a wide range of homes from studios to three-bedroom flats to buy or rent.
Coventry has pulled in £750m of investment thanks to being named UK City of Culture 2021 and a host city for the 2022 Commonwealth Games. The private and public initiatives include a major upgrade of the mainline railway station, a new indoor waterpark and the first 300,000 sq ft of offices that form the initial phases of the Friargate mixed-use district.
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