Friargate move for developer brings new investment to Coventry

A developer has made a significant investment in Coventry by moving to new offices in Two Friargate. SEGRO is an owner, manager and developer of modern warehouses and industrial property.

The company has reached an agreement with Coventry City Council to take approximately 7,000 sq ft of office space at Two Friargate in the city centre. The deal will see around 25 colleagues relocate to Coventry as part of a major commitment to the West Midlands region.

This builds on existing investment which includes the delivery of the SEGRO Park Coventry development in the south of the city adjacent to Coventry Airport. Two Friargate is one of Coventry’s newest Grade A office buildings and the second building to be developed as part of the wider Friargate Business District.

READ MORE:

The family is reunited thanks to the historic Priory Row

I spent one night at a beautiful 600 year old cottage in Coventry city centre

It is next to Coventry Train Station with fast links to Birmingham, London and Birmingham Airport. SEGRO will occupy the 12th floor, which benefits from a roof terrace, offering space for comfort and relaxation to colleagues.

The new Coventry office will house SEGRO’s National Markets team, which primarily develops, owns and manages larger, ‘big box’ warehouses used for logistics. SEGRO plans to invest at least £2 billion by 2033 to deliver 13.5 million square meters of modern and sustainable warehouse space in the West Midlands, including SEGRO Park Coventry.

These developments are expected to support 14,000 new jobs in the region across a wide range of job types, from logistics to research and development to light manufacturing. The announcement follows Octopus Energy, one of the UK’s largest energy suppliers, committing to Coventry after moving to Two Friargate, along with Ofqual’s move to neighboring One Friargate.

Two Friargate is also one of the most sustainable office buildings in the region. The building is expected to achieve a BREEAM Excellent rating, placing it in the top 10% of new buildings for sustainability.

It is also connected to Coventry’s district heating network, providing access to more sustainable heating sources, and enjoys a WiredScore Platinum rating for internet connectivity. These sustainability benefits align closely with SEGRO’s commitment to promoting low-carbon growth and reducing the environmental impact of its operations and development activities.

Cllr Jim O’Boyle, cabinet member for jobs, regeneration and climate change at Coventry City Council, said: “SEGRO is an exciting business with an ambitious growth plan. Already an investor in the town and region, the move to Two Friargate builds on the commitment the business has already made.

“Following Octopus Energy’s commitment to Two Friargate, this deal demonstrates that the fundamental benefits of locating a business in Coventry are strong. We are well connected and have the skills and people businesses need to thrive.

“It also proves that Two Friargate, and the wider district, is an attractive proposition for occupiers given the investment that has been and will continue to be made in this location. We look forward to working with the SEGRO team to support their growth plans.”

Dan Holford, Head of National Markets, SEGRO, said: “It’s important for us to have a strong presence in the markets we operate in so we can develop a deeper understanding of what will matter most to our customers and communities . and build stronger relationships with all stakeholders.

“Coventry is a city that appeals to us as an investment location and Two Friargate is ideal due to its city center location, connectivity, amenities and strong environmental sustainability credentials. We look forward to delivering on our ambitious development program including SEGRO Park Coventry and growing our position in the West Midlands from this fantastic new base.”