Dandara has acquired a brownfield site in Coventry on which it intends to build new homes.
Previously owned by Tetra Real Estate, the former industrial site at Sandy Lane, which is located on the edge of Coventry city centre, has outline planning consent for up to 250 dwellings, as well as a range of placemaking features.
Promoted by Redford Developments, a central component of the scheme is the creation of Powerhouse Plaza – a new public space designed to complement the existing Daimler Powerhouse arts and cultural hub.
Richard Foxon, managing director at Newton, which advised on the sale, said: “Sandy Lane represents a fantastic opportunity to transform this brownfield site into a vibrant residential community, while supporting Coventry’s wider growth ambitions. The inclusion of the Powerhouse Plaza will further enhance the area around the historic canal and provide a high quality setting for the much-valued Daimler Powerhouse. We’re looking forward to seeing how Dandara brings forward this scheme, as they have a strong record of delivering high quality homes and thoughtful placemaking across their developments.”
Ben Adams, land director at Dandara, added: “Sandy Lane is exactly the kind of opportunity that allows us to play a meaningful role in city centre regeneration. This is a brownfield site with huge potential, and we’re committed to creating new homes, new public spaces and a neighbourhood that feels connected to Coventry’s heritage as well as its future.
“The vision for Powerhouse Plaza is a brilliant example of that ambition, supporting the cultural heart of the Daimler Powerhouse while opening up the canal edge for the wider community. We’re looking forward to working closely with our partners to bring forward a scheme that delivers quality, supports housing need and strengthens this important part of the city.”
Richard Mees, chief executive of Redford Developments, said: “When we were approached by Tetra Real Estate to promote the Sandy Lane industrial estate for a residential led scheme, we immediately identified the opportunity that this site had to regenerate an important part of the city centre around the vibrant Powerhouse and to enhance the connections onto the canal to create a sustainable, mixed-use community within walking distance of the city centre.
“It has been a pleasure working with Coventry City Council, Newton LDP, Tetra Real Estate and Dandara, and we look forward to seeing the scheme being delivered. Following the sale of Rainier Developments, this is our first transaction under the new venture, Redford Developments Limited, and therefore it will always be a significant project for us.”
Chris Parsons, managing director at Tetra Real Estate, added: “After completing the Daimler Powerhouse in 2021, we are eager to see Dandara deliver the wider scheme and see their plans come to life. The sale of Sandy Lane has come at exactly the right time for us and has been possible through partnering with experts to get the deal over the line. We are in a position now to reinvest in the local area, allowing us to grow our portfolio and look to explore new development opportunities elsewhere in the Midlands. Tetra has been investing in Coventry for over 40 years now and Sandy Lane’s development will unlock an exciting new community for the city.”
