The year started at a trot with much more activity in the commercial property market.

The demand for industrial property has increased significantly with a number of manufacturers expanding on the back of a considerably improved export market, helped by the weaker pound against the Euro and other currencies.

Land Rover Jaguar has had a transformational turnaround in its fortunes on the back of the increase in exports of its acclaimed range of vehicles.

There are a number of new models being launched this year which has also given increased work to a large number of Midland based engineering companies. Coventry & Warwickshire has built up an enviable reputation for its automotive design capability and there are a number of joint projects being sponsored with both Coventry University and the University of Warwick. Both Universities are expanding their technology facilities – Coventry University has recently topped out its new 200,000 sq ft Technology Centre which will provide state of the art facilities. These are attracting the attention of leading Midland manufacturers.

The University of Warwick has two £25,000,000 projects underway in collaboration with The Warwick Manufacturing Unit.

Covrad, a client of D&P Holt, is one of the oldest established engineering businesses in Coventry and is seeking to relocate to new premises in the Coventry area this will enable it to increase production and enable it to capture the growing market for the worldwide customer base which need cooling plant for their mobile generators.

The Company has recently been taken over by ThermaSys, part of a multi billion dollar American business and will be driving its expansion into Europe.

Enterprise Zones

The City of Coventry is poised to obtain its own Enterprise Zone and has shortlisted five sites for consideration prior to submission of the preferred site. We believe these to include the major redevelopment around Coventry Station Friargate, together, possibly with the whole or part of the City Centre, Coventry Airport and the adjoining land thereto and Ansty Park on the east side of Coventry. The most important thing is for Coventry to be successful in its application for its preferred site, but our strong preference would be for Coventry City Centre and Friargate to be given this status as:-

1. It “ticks most of the boxes” and could provide employment for upwards of 25,000 people.

2. It involves regenerating one of the poorest City Centres in the UK. Currently it is rated approximately fiftieth in the national retail spend and yet it serves the tenth largest City in the Country.

3. The financial incentives available to Companies within the Enterprise Zone, will attract new inward investment and hopefully improve the “retail and leisure offering” in the City Centre. Interestingly Birmingham has submitted its City Centre for inclusion in the EZ, and if successful, and we are not, this will further disadvantage the City of Coventry.

Strategic Land

Coventry is reconsidering its Core Strategy options but we believe strongly that in order to support the new vibrant retail and commercial City Centre, and the continuing renaissance of the industrial research development and production activities, large areas of land suitable for aspirational housing should be allocated and if this intrudes onto Green Land (even within the Green Belt), so be it.

Coventry needs to offer attractive and suitable housing to meet the aspirational needs of successful business people, encouraging them to live there and in the attractive neighbouring Warwickshire Town and Villages.

The economic future of the City of Coventry will depend on it. If Coventry does not capture the considerable business opportunities which are being generated, with the help of two outstanding Universities, other Cities including Birmingham, Leicester, Nottingham and Milton Keynes certainly will. The opportunity is NOW – if it is missed the City will not achieve its high aspirations which are supported by many proud Coventrians of which we are part.

D&P Holt is actively supporting development within the City and has played a significant part in attracting investment in the City including Severn Trent, Jaguar Land Rover, Covrad, CPP, Coventry Building Society and Extracare.