Niche property developer and retail agency, Redleaf, has announced its acquisition of a one acre site in Coventry. The company has acquired the development site which is adjacent to Ricoh Arena in the Rowley’s Green area of the city.
The site, which fronts the A444 Phoenix Way, was originally occupied by a local working men’s club but has been derelict and on the market for sale for a number of years. Initial feasibility studies are under way and the deal is part of Redleaf’s strategic programme of acquisition across the region.
Paul Bishton, director of Redleaf, said: “This is a fantastic, prominent commercial site, benefiting from its close proximity to the Arena Shopping Park, Ricoh Arena and its highly visible position on a major arterial route close to the M6 motorway junction.
“Now that the deal is complete, we are able to look in detail at the site in the context of the various potential development options. We are using our development expertise to examine all options and to ensure our proposals will add value to local residents and potential users.”
Redleaf has also reached practical completion on the development of a £2million retail-led scheme in Kings Heath, Birmingham and the team has also advised on £11m worth of agency transactions in the first half of 2013.