Additional funding nears approval for Coventry cultural hub

Additional capital funding for the transformation of Coventry’s former IKEA store to create a cultural hub could soon be approved.Approval is sought from Coventry City Council’s cabinet for additional capital funding to cover an increase in cost for the main construction works to the former IKEA building, which will be known as the City Centre Cultural Gateway (CCCG).Proposals for the site include three phases, with the first comprising a collection centre which would convert some specified floors into bespoke facilities for the storage, care and management of nationally significant arts, cultural and heritage artefacts.The second phase is a cultural hub proposed by Coventry University to provide a range of cultural educational, engagement, training and professional development opportunities.Finally, shell and core works will be implemented to the remaining floors to facilitate the future letting of the “huge” floorplates.The report, which will be discussed by cabinet on 12 March, is also seeking future additional capital (under delegation once there has been a developed and approved business case for future tenancies), for the basic fitting out of floors one and two to enable them to earn future rental income.