THREE restaurant chains are coming to Coventry city centre in a revamped Cathedral Lanes complex.
The new owner of the controversial shopping centre in Broadgate has today announced three deals with national brands, Wagamama, Las Inquanas and Cosy Club.
London-based Shearer Property Group, which bought the largely empty building last October for £5.5million, wants to transform it into a new restaurant and bar quarter in a £12million first phase.
It will include outside tables and first floor balconies overlooking Broadgate.
As revealed in the Coventry Observer, Coventry city councillors privately agreed a taxpayer supported loan of £2million as part of the deal to transform the unpopular building, considered to block views to the cathedral.
It is hoped Wagamama, Las Iguanas and Cosy Club will open in late 2015.
Wagamama offers pan-Asian food and has outlets in 17 countries, including one in Leamington.
Las Iguanas specialises in Latin American-style food using British produce. The Cosy Club has nine venues across the country and is billed as “club meets village hall meets cricket pavilion.”
Guy Shearer said: “There is a shortage of quality bars and restaurants in the city, so we are delighted to announce these important lettings which mark the beginning of the regeneration process for this core area of the city and mean that our first phase is fully let.
“The council’s foresight to invest in the major regeneration and improvement of Broadgate Square was a major factor in being able to persuade these popular quality restaurants to come to Coventry.
“We share the council’s regeneration vision and look forward to continuing to work closely with them to build on this initial success. We are confident of attracting further quality restaurants to Cathedral Lanes following the opening of our first phase.”
Ann Lucas, leader of Coventry City Council, said: “This is great news for Coventry and a real step forward for the city centre as we continue our drive to make Coventry a top ten city.
“We know the new owners of Cathedral Lanes have been really impressed by the work we’ve done in Broadgate to make it a great public space – the quality of that work is now reflected in these quality restaurant bars who want to come to the city centre.
“For the first time we’ll now have a real buzz in this part of the city centre in the evenings, and we’re hoping this is just the start of developing a new restaurant and bar quarter which the city really needs.”