Council leaders have maintained that various investors have expressed interest in a proposed development in the vicinity of the railway station. It has been announced that one of these investors is an operator in the hospitality sector.
The local authority and the Royal Institution of Chartered Surveyors have already committed to the Friargate project, and work on one of the main buildings should be finished in the next couple of years. Marketing efforts could well make use of the printing services in Coventry.
It has been envisaged that the regeneration planned for Friargate will be connected with a transformation in City Centre South. Both of the developments should be linked with Coventry railway station via a boulevard and bridge deck; construction of the latter has already begun.
It has been revealed that the marketing of Friargate will start properly in May this year. As it stands, at least 25 enquiries have been made from enterprises in the private sector.
David Cockroft, an assistant director for the local council, has said:
“The Friargate scheme and the City Centre South Scheme are important in securing a paradigm shift in the economy of the city. Both schemes are therefore by their nature ambitious and of regional and national importance.”