The Severn Trent Centre, Coventry

D&P Holt are delighted to have advised Severn Trent and Stoford on the acquisition of the long leasehold site from the City of Coventry for the development of their new 170,000 sq ft office centre.

Handover took place on programme and to budget on 8 September 2010, the building being fully tested and commissioned in advance. This was the combination of immense effort from BAM, its construction force and design team, from Stoford and from Severn Trent. D&P Holt advised on the acquisition of the site from the City of Coventry and in obtaining grant assistance from Advantage West Midlands. Severn Trent had ten desired outcomes on the “journey to being the best” and prioritised:

1. The project will promote productivity improvements from office based people.

2. The building will be an icon and inflection point for culture change.

3. The building will be agile and future proof, served by robust public transport and deliver flexible office space.

4. The project will support improved recruitment and retention.

5. The building will help Severn Trent to optimise its carbon footprint and reduce environmental impact.

6. It will have an appropriate brand image and location.

7. The project will support a diverse workforce.

8. There will be cost certainty.

9. The project will be delivered at lowest cost.

10. There will be an optimised balance sheet treatment for the asset created.

D&P Holt are delighted to have contributed to the successful acquisition of the site and to have supported Severn Trent’s relocation to this iconic building which has improved both the physical and economic environment in Coventry.

D&P Holt are actively working with the City to attract other major inward investors and have a number of opportunities to offer including the 3,000,000 sq ft Friargate redevelopment project, potential 250,000 sq ft Bishops Place development and the Barberry redevelopment of the former Royal Mail Building (circa 250,000 sq ft).