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ELECTRIC WHARF
Developer: Complex Development Projects
Where: Coventry, East Midlands
Council: Coventry City Council
Site: canal-side restoration and conversion of Coventry’s original Victorian power station within easy walking distance of city centre
'We wanted to do something to keep the building because we thought it would make a fantastic development. Everyone else was looking to knock the turbine halls down and it was very unusual to reuse them'
Developer Ian Harrabin
BIG SELLING POINT
Showcase conversion of historic building for a community of small creative and IT businesses, living and working in a low energy, high tech environment within easy access of city centre via new, traffic-free bridge over the canal.
SCHEME DESCRIPTION
Four-phase development of 68 live/work loft units, 18 ecohomes and 2,600m2 of high-tech offices for small- to medium-sized businesses, created within the shell of the old turbine halls and boiler house, plus an internet cafe. Around 80% of materials from demolished areas reclaimed and reused in its construction, including old bricks and steel
Recycled materials also used where practical, including roofsheets made of aluminium from drinks cans. New build ecohouses will be designed to need minimal heating through use of passive solar gain and high levels of insulation. May also offer grey water recycling and timber will come from sustainable sources. Site retains the original large electricity switch room, but now topped by sedum grass roof, and the natural canal bank, to add to biodiversity
WORK/LIVE SPLIT
Almost all the lofts planned as live/work but planning stage kept flexible to respond to unknown demand. Units have no formal split of live and work with many have been taken by people in IT and almost all types of office work, plus one artist
STAGE
38 loft units and 800m2 offices completed and mostly occupied. 628m2 offices and three lofts due for completion in August 2005. Remainder due for completion in summer 2006
FUNDING
Developer's own funds and loan from HBOS: £14.6m
European Regional Development Fund: £1.8m
Advantage West Midlands (RDA): £1.6m
Single Regeneration Budget: £300,000
Developer's contribution includes expansion of scheme from original and cost overruns
TENURE
Lofts sold on 150-year leases. Offices either let on flexible market rent terms or sold on 150-year leases
FACILITIES
Hardwired for broadband, internet café, 400m of public space on new south-facing canal frontage, lifts in all large buildings for disabled access. New canal bridge and major art involvement in both environment and community engagement
OCCUPANTS
Creative, IT professionals and other home workers. Range from web designers to private investigator, internet dating agency and artist
MARKETING
Website, local publicity, word of mouth
