COVENTRY MESSAGE BOARD

A 136,178 sq ft Coventry department store has hit the market – the biggest retail investment opportunity to come forward in the city for 30 years.



The Heart of England Co-Operative Society has instructed agents at Harris Lamb and Bruton Knowles to market its department store and associated properties, which front both Corporation Street and Lower Precinct.

David Walton, head of retail at Harris Lamb, said: “This is an exciting opportunity for investors or developers to take on a large, prime retail opportunity in Coventry city centre. The store fronts both the Lower Precinct, the city’s prime pedestrianised shopping location and Corporation Street and has prime retail frontages which rarely become available on this scale.”

The site is available to buy or to let as a whole or in parts, with the vendor seeking offers of around £2.5m.

The department store has three sales floors, along with basement and third floor offices and storage space, while the Lower Precinct unit has three floors.

The property is thought to be of interest to developers for conversion or investors looking to add value to the site.

Investment opportunity?

Shopkeepers fear loss of flagship store could hit trade in Spon Street area

Worried traders in Coventry city centre say it’s vital the huge Co-op building is developed for more shops after it closes in October.

Shopkeepers in medieval Spon Street fear the loss of the Co-op store could hit their trade and see fewer people visiting that side of the city centre.

Keith Draper, chairman of Spon Street Traders and also the Coventry Society heritage group, said: ‘‘As chairman of Spon Street Traders it’s a great cause of concern that this end of town will lose the flagship store.

“Coventry Society will be very keen to see the building re-used preferably for retail rather than more student flats.”

He added he was sorry to hear the Corporation Street store was finally closing after more than half a century.

The shop - one of the city’s biggest and longest established - will shut on October 24.

The 140,000 sq ft building, which has three floors of shopping plus offices and a basement, has been bought by EDG Property, best known for major developments including The Cube in Birmingham.

A design team is currently working on what will replace the Co-op and the buyer said the project would be “place-changing”.

Fears the store could be used for student accommodation were echoed by Telegraph readers.

Coventry's Co-op WON'T be knocked down



Coventry’s Co-op won’t be knocked down, say architects behind ambitious plans to transform the city centre building.

Designers behind Birmingham’s iconic Cube building have been given the job of the revamp.

And Make Architects describe the city landmark as “fine and robust” and revealed the plan would not involve knocking it down.

Greg Willis, who is leading the project for Make, said it has “potential” for a mix of uses but the original structure and the building’s history were an important part of their considerations.

The architect firm has carried out a feasibility study on the 140,000 sq ft building which has been bought by EDG Property.

Mr Willis said: “What is really interesting is that this building has a mass and an identity that we really want to keep and to build upon.

“From the outside we think it has a real style and a swagger so we are looking at how we can preserve that and create something really interesting.

“It has so much potential for a mixture of uses and we are looking at how we can really draw on its heritage while also creating something that really stands it apart.

“This is a fine and robust building that very much represents Coventry’s post-war rebirth and what is clear is that this is not a project about knocking something down and starting again but using the best of what is already there and creating something that is not only visually exciting but will also make a major contribution to the renaissance of Coventry city centre.”

The Corporation Street store was opened in 1956 but will shut on October 24.

The business had been in Coventry since 1867 - surviving the Great Depression and near obliteration by Hitler’s bombs.

But bosses said the closure was down to the retail environment had become “increasingly challenging”.

EDG Property director Neil Edginton added: “The Co-operative is a major scheme in the heart of Coventry that has the potential to make a really exciting contribution to the on-going transformation of this part of the city.

“Make’s track record in delivering innovative and pioneering projects like The Cube is second to none and it is fantastic to be working with them once again on what is a landmark scheme for EDG Property and the city of Coventry.”