TWO FRIARGATE is set to capitalise on a strong year for green investment in Coventry and the West Midlands, ahead of the building’s completion. With ESG-driven occupiers looking to leverage Coventry’s recent success, TWO FRIARGATE is in an excellent position to support sustainable, long-term growth – with low-carbon infrastructure, future-facing digital connectivity and green public transport links.
Encouraging sustainable investment
Over the last five years, Coventry has attracted 218 Foreign Direct Investment (FDI) projects, creating 11,149 jobs for the region and supporting the city’s reputation as the UK’s leading zero carbon future mobility technology cluster.
In the past 12 months, Coventry and Warwickshire have secured significant investment from technology firms championing sustainability and zero carbon initiatives. High-profile investment came from OLA Electric, which is due to open a £100m development facility for electric vehicles, and a manufacturer that is investing £100m in a new research facility at MIRA Technology Park.
Existing employers have also expanded their operations in the region, with companies investing in sought-after skills and key sectors in the region. One such firm is REE Automotive, set to invest in a new manufacturing centre in Coventry, taking full advantage of Coventry’s thriving automotive industry and talent pool. The site is adjacent to the proposed West Midlands Gigafactory, which alone is set to create up to 6,000 new jobs and attract a £2.5bn investment.
Elsewhere, Kite Packaging’s new Kite Campus comes as its operations in the city grow, creating more jobs and attracting greater investment from supporters.
Coventry leading the way
Occupiers nationally are capitalising on Coventry’s central location, excellent transport links and commercial infrastructure, expanding or relocating operations to one of the UK’s fastest growing cities. Future growth is supported by a large and diverse talent pool – both of Coventry’s world-leading universities continue to flourish, with the city named the 3rd best student city in England in 2022.
TWO FRIARGATE, Coventry’s most sustainable office building, has seen a strong level of interest from potential occupiers looking to target ESG objectives, with a surge in green investment – a key indicator of Coventry’s long-term sustainability and potential for growth. The city helped to establish the 3 Cities initiative, alongside Birmingham and Wolverhampton – a unique collaboration designed to accelerate and unlock green economic growth, boost investment and foster inclusive growth.
Investing in TWO FRIARGATE
With construction topping out at TWO FRIARGATE in 2022, Coventry’s state-of-the-art office building is on track for a Summer 2023 completion. Providing 134,000 sq ft of Grade A office space, the building is a beacon of sustainability and a shining example of the long-term infrastructure receiving investment in Coventry.
Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration, and Climate Change at Coventry City Council said:
“We know we are in a challenging economic environment, but 2022 was a standout year for Coventry and Warwickshire in terms of green investment and growth.
“We have the economic fundamentals in place, and our long-term strategy to create the conditions for future technologies is having a real impact. This includes zero carbon technologies and electric vehicles, which are critical to our success.
“The businesses investing in our region, and their supply chains, are fuelling growth, creating thousands of jobs, and attracting more firms to set up in our city. This, in turn, requires high-quality office space.
“TWO FRIARGATE is part of our long-term plan, with demand for space already high. As a sustainable, well-connected, office building it is the ideal home for the modern workforce.”
To find out more about TWO FRIARGATE’s new Coventry offices, contact Cushman & Wakefield – Scott Rutherford on 07824 436439 or email scott.rutherford@cushwake.com, or David Rigby on 07730 735889 or email david.rigby@cushwake.com.
