Bell Green shopping centre could be sold to developers

[dutchman]

A well known Coventry shopping centre could be sold off to developers as Coventry City Council reviews its assets ahead of huge budget cuts.

Riley Square, in Bell Green, is being looked at by council officers as the authority considers which of its millions of pounds worth of assets it could sell off to the highest bidder.

Traders have been calling for council investment into the Riley Square site for years, but after struggling to make the site financially viable, officers are set to recommend that the council pro-actively seeks to offload the shopping centre.

That could mean shops are converted for other uses, or freestanding units are demolished to make way for new housing.

Council officer Nigel Clews, assistant director of property at the council, said the authority had held unsuccessful discussions with potential developers during the past five years but had never actively advertised the site as being available.

He said: “My view is that Riley Square is problematic. It requires significant investment and is a centre that retail has deserted because of other developments around it.

“There is not yet a specific plan to say how we will sell it, it’s a work in progress. The other thing to consider is the Whitefriars flats above it - there are people that need to be considered.”

Mr Clews added that there was yet to be any political involvement, and any decision would ultimately be down to the councillors, but he made clear his recommendation would be to offload the site.

He said: “It doesn’t give the council a big financial return, it’s a difficult site that requires extensive management.

“My recommendation will be that I think we need to look at selling this. I can’t see why they wouldn’t.”

It is thought council officers will also recommend that the council retains the freehold of the site but seeks to sell long leaseholds to developers.

Aside from removing some shops to create extra housing, it was suggested that a leisure operator might also find the site attractive.

The Whitefriars-operated flats at the site are unlikely to be affected by any council decision as the housing association has an existing a long-term lease at the site.

[rebbonk]

The problem is, that's what we have.

I remember Riley Square as a thriving centre. Perhaps rather than just discount it and write it off, those in authority ought examine just what caused its decline? - A decline that is represented across many such centres, not just Coventry. I personally don't buy the fact that it is a concrete monstrosity, other cities make similar centres work.

[dutchman]

I was there in the mid 1960s and it was already being plagued by anti social behaviour. Shop windows were broken, boarded up and sometimes set on fire.

I can't imagine any private developer wanting the place? The obvious choice would be to turn the retail units into residential but then who would want to live there?

[dutchman]

Mystery developer looks to invest millions in rundown Coventry shopping centre



A rundown Coventry shopping centre could be on the verge of multi-million pound investment after attracting interest from a mystery developer.

Coventry council is set to sign a six-month exclusivity agreement with the secret bidder which has agreed to commit up to £100,000 to research and draw up plans for Riley Square in Bell Green.

The developers will then talk to established retail outlets with a view to attracting them to the 1960s’ shopping centre. Plans would also include redevelopment of some of the site and refurbishment of other parts.

Once the exclusivity agreement is signed, the developers will have exclusive rights for six months to buy the site on a long leasehold.

Existing retail outlets at Riley Square are attached to accommodation owned and operated by social housing landlord Whitefriars Housing. This means it is unlikely the existing retail units will be demolished, but it is understood the plans could incorporate further housing.

The agreement is expected to be signed in May after the move was rubber-stamped when Coun Kevin Maton, the council’s cabinet member for business, heard details of the plans during a private part of a cabinet meeting on Tuesday.

A council report into the current situation at Riley Square reads: “The shopping centre has an outdated design and suffers from a lack of significant investment and now appears in a poor drab physical condition.”

Coun Maton said the developer’s plans were based around improving the quality of shops in the area.

He said: “It’ll need to be millions of pounds. It’s not going to be a quick paint job and a few structural changes.

“They are looking at how they can improve the retail offer. There could be more housing, it’s unlikely we’ll be talking about major construction of the existing shops because there are residents living there.

“We would have to look at it twice if they just wanted to convert shops into housing.”

He added: “There could be space provided for small businesses. The key to it all is through retail, I can’t see it working other than through that.”

Coun Maton said: “You might think it’s in a bit of a rundown area and why would anybody want to invest in it?

“Well it’s in a fairly crucial location between the Ricoh Arena and a big Toys R Us, there’s potential there.

“They are in talks with the stakeholders which also includes Whitefriars. We all have the same aim in place, to try and rejuvenate it and provide the services that part of the city needs.

“The company are working up an impact statement and then they will come along with more detailed plans.”

The site has caused long-term problems for the council with plans to attract new investment first pursued in 2008. But Coun Maton said he hoped this could provide a long-awaited solution.

“It has been a headache because it requires external financing and drive,” he said.

“From that point of view it was a welcome enquiry that goes beyond just being an enquiry because there is funding committed for investigative work.”

[Melisandre]

I use to do my shopping here in the early 70s a lot from Wood End used it often I noticed one or two shops closing over the years but mainly when Asda was built just down the road . According to the council Bellgreen is a desirable place to live and Wood End you would nt recognise it now with all the new builds and detached homes up for sale.

[dutchman]

Riley Square could be demolished by developers who want to attract "big name" stores



Part of a run-down Coventry shopping arcade could be demolished and rebuilt to attract big name stores.

Coventry City Council says the plans to redevelop Riley Square, in Bell Green , will make the area more inviting for shoppers and businesses.

New homes are also planned, but the future of traders and residents at Riley Square remains unclear.

The council-owned shopping centre, which brings in around £90,000 a year for the taxpayer, is set to be handed over to developers in order to allow the changes to take place - although the value of the sale has not been revealed.

Innovative Retail Development Limited (IRDL) is set to be handed a 150-year lease as part of the deal which will not only cover the shopping centre, but the residential flats currently under a lease to Whitefriars.

A council report into the plans suggest Whitefriars are “supportive” of the project.

Council-owned land at Almond Tree Avenue is to be handed over to Whitefriars to allow new affordable homes to be built and “to compensate Whitefriars for any future loss.”

Councillors will be asked at a cabinet meeting on Tuesday to approve the 150-year lease for IRDL.

Yes, I'm sure the 'big name stores' will be queuing up to open in Bell Green!

[Melisandre]

then they will be moaning no one uses the shops in the city centre again .

[dutchman]

Whitefriars confirms homes to be demolished as part of shopping centre redevelopment

Whitefriars has confirmed some homes will be demolished as part of plans to redevelop Riley Square, in Bell Green.

The run-down 1960s shopping centre is set to receive massive investment with Innovative Retail Development Limited (IRDL) in line to take over the site and be handed a 150-year lease as part of the deal.

That lease will not only cover the shopping centre, but the residential flats based above shopping units and currently under lease to social housing landlord Whitefriars.

A council statement said: “The council improvement work will take place over four years and will include the removal of canopies and improvements to lighting, shop-fronts and the general appearance of the area.

“There will be some demolition as the area is dominated by the flats and current entrances are narrow and unwelcoming.

“The whole area will be made more open and inviting to attract shoppers into the centre.”

It added: “IRDL say work will start as soon as the lease is signed and they hope to attract well-known names to the centre, but will also keep units available for smaller, independent retailers to create a real mix of shopping choices.”

The council’s report to cabinet reads: “The most obvious partners affected by this proposal will be local traders and tenants of the Whitefriars Housing Group.

“IRDL will consult all stakeholders as part of the regeneration/development process.”

[Melisandre]

Does that go for the high rise flats as well I wonder some wont be happy with this having to move.

[dutchman]

Does that go for the high rise flats as well I wonder some wont be happy with this having to move.

I doubt it Melisandre, I think it's just the flats above the shops.

Even so where are they supposed to be housed in the meantime when there is already a shortage of suitable properties?