The regeneration of Coventry City Centre has taken a step forward with the announcement of Queensberry Real Estate as the preferred development partner for the area that covers Bull Yard, Shelton Square and City Arcade.

Following an openly marketed developer selection process, managed by Deloitte Real Estate, Queensberry Real Estate entered into a collaboration agreement with the Council. This means over the next 12 months Queensberry will be working to develop the outline plan which includes proposals for 52,000 metre squares of new shops, a major store, cinema complex, hotel, 40 new apartments and a multi-storey car park with about 1,200 spaces

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Cllr Lynnette Kelly, Cabinet Member for Business, Enterprise and Employment, said: "This collaboration agreement will enable us to work alongside Queensberry Real Estate to develop an effective and robust plan for City Centre South. We have been clear that our city centre is not good enough. It's not what local people deserve and it leaves us way down in the retail rankings.

"This is a step in the right direction of achieving our ambition of a centre that local people can be proud of. But we are still a way away from the first spade in the ground. Before that happens Queensberry need to do lots of work to make sure it stacks up financially and to be sure they can secure the interest from the right kind of traders – including the major store we have designed space for in Bull Yard.

"There is a lot to do and a long way to go – but this appointment is good news and takes us in the right direction."

(CD/MH)