Agenda item

Report of the Deputy Chief Executive (Place)

The Business, Economy and Enterprise Scrutiny Board (3) received a report of the Deputy Chief Executive (Place) that provided details of the Council’s attendance at Marche International Des Professionals De L'Immobilier (MIPIM) 2019 and the outcomes of MIPIM 2018, by Coventry and Warwickshire MIPIM partnership.

MIPIM was the leading global forum for real estate professionals and took place annually in March and covered an exhibition, conference programme and sector awards. Industry and government leaders gathered to launch development initiatives and to discuss the current themes and issues of the property sector. It was the largest annual gathering of international property leaders and attracted international industry decision makers: professionals and employers from the property and construction sector, including property developers, investors, funders, end user and intermediaries. There was no cost to the City Council for their attendance at the event.

MIPIM 2019 drew 26,800 top property players with representations from 100 countries - including 6,380 investors, 3,800 CEOs and chairs alongside 3,800 exhibiting companies, 130+ conferences and 480 keynotes and speakers. The primary objective of the Coventry and Warwickshire presence was to attract and encourage investment into the area, raise the area’s profile and attract new investment as part of an overall strategy to create and sustain jobs in the region.

A total of 131 meetings took place over four days with senior representatives from key property companies, developers, intermediaries and end users within the property sector. All contacts made at MIPIM 2019 continued to be followed up. A number of follow-up actions had already taken place, including meetings with major property development companies, funders and intermediaries. Other clients had received specific/tailored business case data, attended specific site visits, received generic information, and/or had been added to relevant contact databases.

Discussions and announcements included:

•  Announcement that Coventry was to be the national centre for Homes England.

•  Announcement by The Wigley Group to transform the Sandy Lane industrial estate.

•  Announcement that the Charterhouse was to open a fine-dining restaurant by one of the UK’s best known chefs, Glynn Purnell.

•  The new 10-year masterplan for the Leamington Creative Quarter was showcased by Complex Development Projects.

•  The plans to transform the centre of Nuneaton were showcased.

•  The transformation of Cathedral Lanes was highlighted.

•  Announcement by Complex Development Projects of the £120m deal to create a new boutique hotel at the former Telegraph HQ.

•  Economic impact survey revealing the economic impact of Coventry University and University of Warwick on the city.

•  The Rainier Developments plans to transform the former Elliott’s site on Gulson Road were showcased.

•  MCS Group showcased the plans for their new £2.5m Midlands Headquarters, currently under construction in Warwick.

•  Regents Affordable launched their plans for Godiva Gate, the student and mixed-use development as well as building a modular factory in Coventry by 2023. It is also collaborating with Agile Ageing Alliance to build the UK’s first ‘Neighbourhoods of the Future’ multi-generational communities.

Progress made since MIPIM 2018:

•  Following further discussions at MIPIM 2018, the Friargate Joint Venture had been agreed and was now progressing.

•  Discussions continued with Shearer Property Group in the development of Cathedral Lanes which had resulted in the opening of several new restaurants (The Botanist, Bistrot Pierre, Zizzi and MOD Pizza).

•  Shearer Property Group were now on site delivering the Upper Precinct redevelopment plans.

•  Discussions were continuing with a potential hotel occupier for Friargate.

•  Following discussions with Rainier Developments, they had purchased the former Elliotts site on Gulson Road and released their development plans.

•  Conversations with Study Inn had resulted in them planning to redevelop the Vintage House site at the Canal Basin into student accommodation.

•  The plans for Bishop Gate East had been announced by Barberry.

•  The plans for Abbots Lane had been announced by Complex Development Projects.

•  The Wigley Group were a first time MIPIM partner in 2018, ongoing discussions since then resulted in them developing plans ‘Daimler Wharf’, the Sandy Lane industrial estate, announced at MIPIM 2019.

•  Following a meeting with Code, acquisitions of Gala Bingo site and outline plans for Phase 2 had been developed.

It was proposed that Coventry City Council attended MIPIM 2020, with the continued aspiration of zero costs to Coventry City Council. There were already several MIPIM 2019 partners committed to MIPIM 2020 and some new partners interested in joining the partnership. 

Following the three-year commitment from DIT of £125k per annum towards the facilitation of a “Midlands Pavilion at MIPIM” from 2017 – 2019, DIT would be looking to continue its support into MIPIM 2020. Coventry and Warwickshire would therefore join other destination partners, LEP’s, Local Authorities and commercial partners from across the region as part of the Midlands UK team, with an ambition to generate growth through collaboration. A meeting and events programme would be co-ordinated. It was envisaged that Coventry UK City of Culture 2021 continued to be a particular focus for Coventry and Warwickshire’s presence at MIPIM 2020.

Members questioned officers and discussed the following issues:

·  The progress on the outcomes of both year’s events

·  Officer and Elected Member attendance

·  The itinerary and location of the 2019 events

·  The creation of opportunities with investors

·  The delivery of projects that came from attendance at the events

·  Attendance at future MIPIM events

RESOLVED that the Business, Economy and Enterprise Scrutiny Board (3):

1)  Endorses the report and confirms its support of how Coventry City Council delivers MIPIM and the benefit it brings to the City.

2)  Supports the recommendation that Coventry City Council attends MIPIM 2020, with the continued aspiration of zero costs to Coventry City Council.