Coventry City Council is set to approve funding worth £17 million towards the second office buildings in the Friargate development.
Coventry City Council is set to approve £17 million funding to for the development of a second office building at the Friargate development, with work set to begin from Autumn 2020.
This funding is in addition to a £51 million grant from the West Midlands Combined Authority to deliver the first phase of the project.
Two Friargate will contain 134,000 sqft of lettable, adaptable office space, on par with the best the region has to offer, according to the developers.
In addition, there will be ground floor space available for a café or restaurant to occupy and accessible to the public.
According to prior plans, the building will be 14-storey and include a glazed pavilion on the top floor, with stunning views of the city skyline, all just 80-metres from Coventry’s railway station.
A second office building at Friargate is part of the wider plans to expand the Friargate development and to make it and Coventry an even more attractive place for businesses to invest in.
The Council estimate that the scheme will create 700 new jobs during the construction phase of the scheme, with many more created when the building is operational.
Cllr Jim O’Boyle commented: “At a time when the economy is struggling, we need to do all we can to support new investment and job creation.
“This building at Friargate will be situated right next to one of the busiest and fastest-growing [railway] stations in the UK, making it a really attractive proposition for businesses.
“I believe that if we build this second building, we will see more business investing in our city and discovering what a fantastic place it is to do business in.
“In addition to all of this, this building is going to be a real opportunity to create jobs for Coventry people. This is always an incredibly important aspect of any development to us but even more so with the impacts of COVID-19 on the job market.”