City Centre South
Opportunity for build to rent investors to acquire a large number of new, marketing leading, residential units being brought forward in Coventry city centre.
Coventry City Centre South is a residential led, mixed-use development in the heart of the city that will deliver over 1,550 new homes alongside significant commercial and placemaking development. The scheme, which has a confirmed CPO and outline planning consent, will be delivered in phases from 2024 onwards across the 6.5ha site. The developer, Shearer Property Regen Ltd (SPRL), is a JV partnership between The Hill Group and Shearer Property Group with Hill Holdings acting as the project funder to bring forward the proposals, focused on the delivery of new residential development across a mix of tenures.
Working collaboratively to respond to national changes to fire guidance on second stair cores, the Council and SPRL has successfully improved and optimised the scheme and secured £12 million of additional grant funding in January 2024. Reserved Matters approvals for the first phase of development and Listed Building Consent for works to Coventry Retail Market were achieved in March 2024.The first phase will deliver 991 new homes, 8,000 square metres of new commercial space and 17,000 square metres of public open space, to create an exciting new residential, shopping and leisure destination for the Midlands.
Designed and built to high environmental standards with contemporary architecture inspired by Coventry’s rich history, heritage assets and public art, the homes in the first phase will range in size from studios to three-bedrooms, appealing to a diverse mix of residents. The first two blocks to be delivered will be affordable with 145 of the 200 of the affordable homes being social rent for local people and 55 as shared ownership. The remaining 791 homes will be available through private market sale and rent.
Investment opportunity
There is an opportunity for Build to Rent investors / operators to secure interests in c.600 new city centre apartments in one of the UK’s fastest growing cities.
- Planning Status: Reserved Matters Consent; Outline planning approved; Listed Building Consents
- Promoter: SPRL - partnership between Shearer Property Group/ Hill Residential Limited
- Investment Type: Build to Rent Investor / Operator / Leisure and Retail Occupiers
- Scale/Value: £50m+ Build to Rent opportunities
- Sector: Residential led, mixed city centre uses
- Timeline: Delivery commencing 2024. Project completion in 2033
- Lead: Public/Private: Private
Website: www.coventrycitycentresouth.co.uk