Following the marketing of the above property, Coventry City Council (“the Council”) invites offers for a long leasehold interest in the above property.
Outline of the proposed terms of New Lease for disposal
The Council is prepared to grant a new 250 year lease (“the new lease”) out of its existing freehold interest. The lease area will be as indicated by the red line plan provided, subject to minor adjustments if required.
For the avoidance of doubt, 1) The former restaurant area previously let to “The Escape Room” will be included within the demise; and 2) The roof-mounted solar panels, inverter, monitoring system and associated equipment will also be included.
Vacant possession will be provided.
Any proposed development should include the conversion of the upper floors to alternative uses (excluding student accommodation).
The Council intends to grant the new lease of the whole building, which will include the ground-floor commercial units. The tenant (purchaser) will be required to grant an underlease back to the Council (co-terminus with the new lease, less 3 days) of the ground floor (retail units and retail common parts) (exact area to be confirmed). The Council intends to retain the underlease to retain the rents from those commercial tenants.
The Council will retain rights to install, replace, maintain and operate roof and externally mounted apparatus, together with associated internal service media and any related equipment. These rights will enable the Council to continue using its street lighting, CCTV and radio masts, together with preserving its ability to install such new items in the future. These will not be Telecoms Code rights, and there are no third-party or other Telecoms Code rights.
It may be that the parties enter into an Agreement for Lease and Lease which is conditional upon the purchaser obtaining 1) a satisfactory planning consent and 2) Listed Building Consent (structure to be agreed).
Bid requirements
Offers must be received by 2pm on Monday, 02 February 2026. Offers are to be in writing, no more than 3 pages together with a limited number of attachments if required.
Offers must be received via the Council's online platform CSW Jets. There is a requirement to register with CSW Jets in advance. Further information and help and be found on the CSW-jets e-tendering website, searching for reference COV - 25083 under the CSW-JETS platform.
If you have queries relating to creating or accessing an account on CSW-Jets, please check our printable guidance on registering and managing your CSW-Jets account alternatively, please see our video guidance. If you are still unable to find the answer to your query within the guidance, please contact Procurement Services.
If you already have an account and your query relates to using the E-Tendering portal including accessing or uploading documents, please send your enquiry to csw-jets@coventry.gov.uk or 024 7697 5539 for further assistance.
All bids must include the following information
- Identity of purchaser
Details of the proposed purchaser, including company structure, beneficial ownership, and relevant experience or track record in similar acquisitions. - Offer price
The proposed purchase price offered for the new lease. It is assumed the new lease will be at a peppercorn rent. - Proposed scheme
State the nature and scale of the proposed scheme. Student accommodation schemes will not be acceptable. - Approvals and consents
Details of any internal, statutory, or third-party approvals required to complete the transaction, together with anticipated timescales. - Funding arrangements
Confirmation of the source of funding. Where third-party funding is proposed, full details should be provided, including the status of any approvals. - Proposed timescales
Anticipated timescales for exchange of conditional contracts, obtaining planning and satisfying any other conditions and new lease completion. - Due diligence
Details of due diligence undertaken to date by the bidder and its professional advisers. - Professional advisers
Details of the solicitors and any other professional advisers appointed or proposed in connection with the acquisition. - Conditions
Bids are invited on a subject to planning bases, please confirm. Also, please confirm details of any further conditions. - Council's costs
Confirmation that and undertaking (£10,000) will be provided, and the remainder of the Council's Legal and Surveyors fees (£45,000) will be paid on completion. - Any other matters
Confirmation of whether there are any other matters arising.
Please note;
- The Council is required to obtain best consideration reasonably obtainable in accordance with Section 123 of the Local Government Act 1972.
- The Council will assess offers having regard to price and deliverability.
- The Council will recover its professional fees and costs (namely fixed surveyor’s fees of £22,500 and legal costs of £22,500) on completion. The purchaser will be required to provide an initial undertaking in the order of £10,000, which will not be refundable in any case except the Council not proceeding with the transaction.
- The Council reserves the right not to accept the highest or any offer, to seek clarification of any submission, or to withdraw the property from the disposal process at any time.
- A disposal of land by the Council is not subject to the procurement regulations, but the Council will conduct the process in a transparent, fair, and non-discriminatory manner.
- The Council has approval to dispose. Officers are required to report back to the Council detailing the final terms of the agreed disposal. It is anticipated that this requirement can be satisfied by reference to the Cabinet Member for Jobs, Regeneration and Climate Change but further authority may be required.
- The final terms are subject to officers obtaining all necessary authority and approval.
- Subject to Contract and each party's solicitors agreeing the terms of the legal documentation.
Contact
Coventry City Council Property Development, Acquisitions and Disposals
commercialpropertyenquiries@coventry.gov.uk
Key Contact Carwyn Beswick
carwyn.beswick@coventry.gov.uk
024 7697 6301