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Coventry County Council looking to procure development partner for £200m city regeneration scheme

Coventry City Council is looking to procure a development partner to deliver its City Centre South masterplan, which could be worth up to £200m.

The retail and leisure-led regeneration scheme will include the development of a new cinema complex, a hotel, refurbished restaurant units, as well as the creation of 1,200 car parking spaces.

There is also the potential for new homes to be constructed in the city centre area.

Coventry City Council is seeking to procure as many as three consortia to develop the scheme and is “agreeable in principle” to supporting the development financially, according to OJEU documents.

The development partner will be expected to lead on pre-development tasks, including preparing the scheme design, planning and securing development finance.

The partner will also be responsible for the construction, marketing and letting of the scheme.

Work is expected to begin in September 2016, running for six years through to September 2022.

In total, it could be worth between £50m and £200m.

In April this year, developer Persimmon acquired a 19.6 ha site on the outskirts of the city for a £70m, 700-home redevelopment.

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