To some extent Coventry lives in the shadow of its larger neighbour, Birmingham. Yet it remains a large regional city with a sizable economy and population of its own. Here we will look at what is being done to regenerate and develop the city for the future.
Coventry is synonymous with the motor industry and while manufacturing is still important to the economy there is now an emphasis on R&D and advanced manufacturing. There is a significant knowledge economy including at the University of Warwick Science Park. The city is Jaguar Land Rover’s HQ and engineering centre. Other key employers include the local authority, hospitals and universities, while Coventry’s geographic location has made it attractive for logistics and distribution industries.
The Investment Attractiveness Index, by Irwin Mitchell and Cebr, analysed 50 UK cities based on growth potential, infrastructure and skills. In a year on year comparison (2023-24) Coventry was the only city with improved overall investment attractiveness.
Coventry is a large student centre with around 54,000 students at Coventry University and the University of Warwick, in Coventry’s southern suburbs. As elsewhere, there are concerns over how future student numbers could affect the economy and property market here. Professor John Latham, Vice Chancellor and CEO of Coventry University Group recently said that students support a large part of the city centre and that international students are worth more than £150m to the city. He added that government action in tightening visa rules ‘will soon start to put a big dent in the city’s economy’.
There has been significant PBSA development in recent years, both in the city centre and at Westwood Business Park near the University of Warwick. However, local reports suggest the PBSA market has become oversupplied and claim some blocks have high vacancy rates. The council recently gave consent for one block (Trinity View) to be let to non-students. Code Living opened a 1,000 bed student development here in 2018. They are currently working on an adjacent block with 874 beds but reports say they are seeking to complete this as 420 units of market housing instead.
