MIPIM news: New Scala scheme for Coventry

DEVELOPMENT of a major new project in Coventry’s creative quarter is due to begin this week, delegates at the MIPIM commercial property show have been told.

Complex Development Projects (CDP) and Advantage West Midlands announced that construction would start on a new speculative office building as part of the Far Gosford Street Regeneration Initiative (Fargo).

The new Scala office will bring around 50 new jobs to the area and is already attracting interest from businesses in the IT and creative sectors.

The building will complete the trio of projects making up the £3.5m first phase of the Fargo initiative which is seeing one Coventry’s most historic areas transformed into a vibrant cultural quarter and centre for creative enterprises.

The Scala building, designed by city-based architects IDP and Birmingham- based PCPT, will feature up to six office units in the three-storey building. The development is being built on the site of the former Scala cinema at the entrance to the public car-park.

Restoration of the adjoining Hand and Heart pub and the timber framed buildings at 121-124 were completed at the end of 2009 and the Scala office is the final part of this phase. The other buildings are already almost fully occupied.

Ian Harrabin, managing director of CDP, said: “We’ve designed the building in an arts and crafts style to reflect the era of the cinema which was demolished in the 1960s.

“It’s a key site as it is right in the heart of the area and helps repair past damage to the street.”

He said the company had decided to press ahead with the scheme regardless of the economic climate as demand for space was still high.

“Businesses really seem to like the creative vibe and proximity to the university,” he said.

“We think this is one of the only – if not the only – speculative office building currently underway in the West Midlands. That says a lot about our confidence in the area and the strength of the partnership with the city and AWM.”

Coventry City Council, Advantage West Midlands and CDP are working in partnership on the Far Gosford Street project which will see several new office developments on surplus land, a hotel near the Sky Blue Way roundabout, accommodation for digital, media and creative businesses, the restoration of historic buildings and the re-use of an old industrial estate as a vibrant festival marketplace.

Councillor Ken Taylor, leader of Coventry City Council, said: “The transformation of Far Gosford Street is moving forward apace and it is very good news that the Scala building will follow hot on the heels of the two other restorations which are already bringing new life to this area of the city.

“Attracting new businesses to the area, many of which will be new or young enterprises, is key to the success of the project and the Scala building will play a big part in that.”

Advantage West Midlands has invested more than £3m in the scheme in purchasing the industrial estate and helping with property restoration costs. It is also working with partners to assist in the delivery of future phases.

Stuart Kirkwood, AWM’s development director, said: “The redevelopment of Coventry city centre is one of the agency’s top 20 priorities in the region, and Far Gosford Street is a key component of that.

“There has been a massive amount of work going on behind the scenes but recent developments have provided real evidence for local people of the way the environment is being enhanced and the Scala building will continue that process.”

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