Contact the Capital Investment team for more details about this opportunity

Opportunity Friargate Coventry

Friargate is an office led mixed use development with many options for investment. The promoter is open to various investment structures to accelerate delivery of future phases.

Friargate has already delivered new infrastructure, new public spaces and the first high quality office building. One Friargate is occupied by Coventry City Council and The Financial Ombudsman Service.

The project is about to commit to a new 100 bedroom boutique hotel to be completed in 2021 and a second office building, Two Friargate to be completed in 2023.

Selected as UK City of Culture in 2021 and taking part in the 2022 Commonwealth Games, Coventry is a city very much on the rise.

Contact the Capital Investment team for more details about this opportunity.

Artist impression of the Friargate mixed-use development in Coventry with people and trees outside the building
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Location

Coventry city centre

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Project promoter

Friargate JV Project Limited

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Scale

Over £700m GDV

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Sector

Commercial, Residential, Hotel, Private rented sector

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Investment type

Partnership, direct development and co investment

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Planning status

The Friargate masterplan is approved. The first building is completed, the second building has detailed approval.

Map of English Midlands area with Coventry and its transport links

Project background

An ambitious new business destination, Friargate is delivering prime new office space, hotels, homes, shops, restaurants and public space – all next to Coventry railway station and a five minute walk from the city centre. By train, Friargate is under 1 hour from London and 10 minutes to Birmingham Airport with connections to Europe, China, India, Australia, Dubai and the USA. Few developments in the UK are as well connected.

One Friargate, a modern 11,613 square metre (125,000 square feet) office building, was completed in September 2017. It is fully occupied with 2,323 square metres (25,000 square feet) of the 11,613 sqm let to The Financial Ombudsman Service – an inward investor with a view to possible expansion as new buildings are delivered.

In 2018, One Friargate won best corporate workplace in the British Council for Offices (BCO) regional awards and best public service building at the Local Authority Building Control (LABC) West Midlands awards. In 2017, it won West Midlands regeneration project of the year at the West Midlands Property awards.

About the project

The development will provide 297,290 square metres (3.2 million square feet) and generate 15,000 new jobs. Friargate will deliver 25 sustainable new buildings, including 213,677 square metres (2.3 million square feet) of Grade A offices, 19,974 square metres (215,000 square feet) of retail, 10,219 square metres (110,000 square feet) of leisure space, two hotels and up to 400 homes.

Planning Consent for a second office building of 12,635 square metres (136,000 square feet) has been granted. Detailed construction design is underway to deliver Two Friargate, a contemporary Grade A office building perfect for modern business. The associated hotel has planning consent and a contractor has been appointed in readiness to start on site.

Promoters and partnerships

Friargate JV Project Limited is a UK registered limited company established to deliver the Friargate project. It is owned and controlled by Coventry City Council and Cannon Kirk Group, a Dublin based development and property investment business. US venture capital and Oaktree Capital Management are among Cannon Kirk Group’s shareholders.

Friargate JV Project Limited is also working closely with Coventry and Warwickshire Local Economic Partnership and the West Midlands Combined Authority.

To invest in the UK, get in touch with our team.

Find out more about Friargate Coventry.