New firm found for delayed Coventry Ikea cultural hub plan
A new contractor has been found to turn Coventry's old Ikea into a cultural hub after the collapse of the project's previous firm. The city council said they have found a company to take on the delayed project after a "thorough" review of bids.The scheme would see the former Ikea building converted into artists' studios, post-production filming facilities, galleries and a cafe.The project had stalled after former contractor ISG went into administration in September.
Council officials said only two companies were interested in taking the project on and a final agreement still needed to be signed with the successful bidder. Work on the building had originally been due to start this summer before last year's set back.Last week council papers revealed that the Ikea building project and Godiva Festival were the main reasons for a £1m pressure on council budgets. Pre-construction and holding costs for the former furniture story were £865,000 of which more than half, £480,000, were from business rates owed to the authority, the council confirmed.This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations.
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