Plans for a major new mixed-use project on a former car manufacturing site have been unveiled.
Rainier Developments has agreed a deal to bring forward the regeneration of Sandy Lane Business Park and Sandy Lane Industrial Estate which was once home to a Daimler factory.
The Warwickshire-based developer will begin working on new proposals for the site north of Coventry Canal Basin which are likely to include a mix of uses, including new homes and commercial space.
The site has been owned by The Wigley Group since 2006 and has already been earmarked for regeneration by the city council.
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Southam-based Wigley Group previously transformed the site's derelict Daimler Powerhouse to create a and aims to support artists across the region and will be retained in any future proposals.
Rainier Developments, which is headquartered in Henley-in-Arden, will bring forward new proposals and submit a planning application in due course.
This will follow detailed discussions with Coventry City Council, local stakeholders and a public consultation process.
Richard Mees, chief executive of Rainier Developments, said: "Sandy Lane is one of Coventry's most exciting regeneration opportunities.
"We will bring forward proposals which will enhance the local economy and provide value for the city and community. The Wigley Group has made significant progress promoting the site for regeneration.
"Not least bringing Daimler Powerhouse into use as a creative hub. We will build on this legacy as we review the vision for the site.
"Given the changes to market conditions since plans were first published, we will be reviewing every aspect of the approach and submitting a new planning application for this prominent brownfield site."
