Plans to create a new £20m Eco Riverside Business Park in the city have been announced as part of an ambitious plan to create a major new heritage trail in the city.
The 100,000 sq ft environmentally-friendly office buildings will be aimed at companies involved in innovation, information technology and the create industry, and will be headed up by private development firm Complex Development Projects (CDP).
The project is part of the vision by Historic Coventry Trust to create a 70 acre heritage park which will highlight buildings of national importance in the city.
Ian Harrabin, of CDP, said: “We want this business park not only to serve a very valuable purpose in ensuring that our creative companies have somewhere to grow and thrive but also in attracting inward investment.
“There is currently a chronic under supply of quality office space for small businesses to buy close to the city centre and the university and that is not good for growth or the development of the area.”
The project aims to create a quality working environment to enable the city centre to retain and expand SMEs.
“The growth of both universities generates SMEs but the type and quality of space available is very limited meaning that much of the growth leaves the sub-region – that is a trend we aim to help reverse,” added Mr Harrabin.
Harrabin also believes the overall development could provide a sizeable boost to tourism and a major element in the city’s bid for City of Culture in 2021.