Coventry City Council’s Cabinet is set to approve a long lease on the Ricoh Arena’s Car Park C, in order to facilitate the development of a new hotel with up to 150 bedrooms on the site.
Wasps Holdings Limited (WHL) approached the Council to request the grant of a new long lease over Car Park C (opposite the retail park) in order to develop a new hotel which will support events and conferencing at the Ricoh Arena and across the city.
Cllr Jim O’Boyle, Coventry City Council’s Cabinet Member for Jobs and Regeneration, said:
“An additional hotel at the Ricoh Arena has been long-awaited and is much needed. Proposals for a hotel have been discussed for a very long time and now, finally, we are able to take real steps towards achieving this ambition.
“A new hotel will help to support events and conferencing at the Ricoh Arena and will help to ensure visitors stay here in Coventry when they visit the Ricoh.
“The north of the city is an excellent gateway and it’s important that we have the accommodation in place to make sure that visitors can stay and enjoy what we have to offer.
“We also know that hundreds of extra bedrooms will be needed for 2021 so there is a real incentive to get it built and open for then.”
If approved, Wasps Holdings Limited will enter into a licence with the Council until November 2019, during which period they will be required to apply for planning consent for a new hotel on the site. The car park will remain in operation throughout this time. Wasps will only be able to enter into the new lease once planning consent has been granted.
If development does not commence within two years, the Council are able to require the surrender back of the long lease.
It is hoped that the proposed hotel will be completed in time for Coventry’s year as the UK City of Culture in 2021 and the Commonwealth Games in 2022, when the Ricoh Arena is expected to host the Netball tournament.
View the details of the Cabinet meeting on the Council's website