Coventry leisure complex set for £25m investment
UP to £25m is set to be invested in the refurbishment of Coventry city centre’s flagship leisure development.
The move follows the acquisition of the Skydome complex in August by London-based property group Mansford in a deal worth £13.5m.
The complex includes a main arena, car park and leisure units, which are home to a multi-screen Odeon cinema as well as bars and a restaurant.
The company, which was advised by commercial property agents EJ Hales, wants to breathe new life into the Skydome, which has suffered neglect in recent years due to the downturn in the night-time economy.
The new owners are in discussions with a series of operators in order to attract a mix of tenants capable of complementing existing outlets such as the cinema and the arena.
Yorkshire-based Pure Gym has already agreed to take over 25,000 sq ft of space vacated after nightclubs Lava and Ignite closed, while other operators have also shown interest in the project.
As well as investing in the units themselves, Mansford is also funding major improvements to the 779-space car park, the boulevard and the linkage to the main city centre.
Phil Morris, of EJ Hales, said long-term investment was needed to revitalise the scheme, which opened in 1999.
He said: “There is huge potential for the Skydome and the fact that the whole site has been brought back under one umbrella will benefit the whole city.
“The fact that such a significant investment is being made will help to return the Skydome to what it was originally created to achieve – to be a family-friendly leisure facility for everyone in the region.
“The fact that such huge interest has already been shown by a range of operators – including Pure Gym, which will be the city centre’s largest gymnasium – highlights the confidence others have in this project.”
He said this would build on already successful operations such as the cinema and the arena and lead to better links to the city centre, where other development plans are being lined up.
Joe Heanen, managing director of the Arena Group, said the investment would help to attract a wider range of visitors to the Skydome.
He said: “It’s great to see money being pumped back into the Skydome. Here at the arena, we enjoy very strong visitor levels particularly for matches and we want to build on that.”
Paul Coffey, property and acquisitions manager for Odeon, added: “The fact that the whole complex will undergo major improvements to bring about a new mix of operators is great news for everyone in the city.
“The potential is definitely here because we see that from our own visitor numbers. The fact that has been recognised and that the whole area is going to be developed is something we very much welcome.”
