Friargate

What Friargate does

Friargate Coventry LLP is a joint public-private partnership between Coventry City Council and the Cannon Kirk Group, established in 2010 to deliver a 37-acre mixed-use masterplan linking Coventry railway station with the city centre. The development targets an ultimate footprint of 2.35 million sq ft, encompassing Grade A offices, retail, hotels, and up to 400 residential units, with projected job creation of 15,000 across diverse sectors. To date, two twelve-storey commercial buildings have been delivered: One Friargate (completed 2017 and anchored by Coventry City Council, OFQUAL and the Financial Ombudsman Service) and Two Friargate (completed 2024, totalling 134,000 sq ft with floorplates of up to 11,000 sq ft, anchored by Octopus Energy and SEGRO), alongside Hotel Indigo Coventry and the Telegraph Hotel.

The scheme's underlying technical platform centres on an Engie-operated District Energy scheme that distributes low-carbon hot water generated from waste burned at the Council's recycling centre, supporting a class-leading environmental standard across the buildings. Allies and Morrison-designed Two Friargate explicitly applies sustainability, flexibility and wellbeing principles, and the wider site benefits from the £82 million Coventry railway station redevelopment completed in 2021 and proximity to the planned HS2 Interchange.

Friargate generates revenue primarily through recurring Grade A office leases, supplemented by retail rents along the high-footfall corridor, hotel operations (Hotel Indigo and Telegraph Hotel), and planned one-time residential unit sales. Pricing is not publicly disclosed and the go-to-market is direct enterprise field sales targeting large organisations, professional services firms, and membership bodies. Customer concentration is high, with Coventry City Council serving as the anchor occupier of the first building.

Name

Friargate

Legal name

Friargate Coventry LLP

Website

https://friargatecoventry.co.uk

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Friargate Coventry LLP is a public-private partnership between Coventry City Council and Cannon Kirk Group delivering a 37-acre mixed-use masterplan in Coventry, UK, comprising Grade A offices, retail, hotels, and planned residential units, anchored by One Friargate and Two Friargate.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112)

SIC

Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Office Property Management (BPAJAGAA)

Keywords

• Commercial real estate
• Grade A offices
• Mixed-use development
• District energy
• Urban regeneration

Headquarters

HQ city

Coventry

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Commercial Office Leasing: Grade A office space leasing across One Friargate and Two Friargate buildings, with individual floorplates available from 5,000 sq ft to 11,000 sq ft
2. Retail Space Leasing: Retail opportunities along the main thoroughfare between Coventry city centre and railway station
3. Hotel Operations: Hotel revenue including Hotel Indigo Coventry opened in 2024
4. Residential Development: Up to 400 residential units within the masterplan

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Friargate develops and leases Grade A commercial office space as part of a mixed-use estate in Coventry city centre, adjacent to Coventry railway station. The portfolio also includes retail units, a hotel (Hotel Indigo Coventry), and residential accommodation, all supported by an on-site District Energy Scheme for low-carbon heating and cooling. The offering is targeted at enterprise occupiers and government bodies seeking modern, sustainably certified workspace.

Product overview

Friargate is a mixed-use commercial real estate development in Coventry, UK, consisting of multiple interconnected products within a masterplan framework. The core portfolio includes two commercial office buildings (One Friargate and Two Friargate), retail spaces, hotel accommodations (including Hotel Indigo Coventry), and residential units. The development spans 37 acres with up to 2.35 million sq ft of mixed-use space, linking Coventry railway station with the city core. One Friargate and Two Friargate are the primary Grade A office offerings, while retail, hotel, and residential components round out the mixed-use campus. Sustainability and wellbeing are key themes across all products.

Differentiator

Problem solved

Functional benefit

Brands

• One Friargate: First building in the Friargate masterplan; a twelve-storey commercial space now home to Coventry City Council, OFQUAL, and the Financial Ombudsman Service.
• TWO Friargate

Products and services

• One Friargate Grade A speculative office building forming part of the Friargate mixed-use estate; targeted at enterprise and public-sector occupiers.
• Two Friargate Grade A office building developed as part of the Friargate estate, providing modern, sustainably designed workspace for large occupiers.
• Friargate Retail Retail units within the Friargate estate, intended to serve office workers, residents, and visitors to the development.
• Hotel Indigo Coventry Hotel accommodation within the Friargate estate, operated under the Hotel Indigo brand, serving business and leisure visitors to Coventry city centre.
• Friargate Residential Residential accommodation within the Friargate estate, providing city-centre living as part of the mixed-use development.
• Friargate District Energy Scheme On-site low-carbon District Energy Scheme providing heating and cooling across the Friargate estate to office, retail, hotel, and residential users.

Named customers6 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Coventry City CouncilcoreStrategic or Co-development PartnerCoventry City Council is the public partner in the Friargate Coventry LLP joint venture overseeing the development. The Council is a dynamic and forward thinking public body representing 371,000 citizens of the city. CCC moved into One Friargate in 2017.
• Cannon Kirk GroupcoreStrategic or Co-development PartnerCannon Kirk is the developer partner in the joint public-private partnership. It is a leading international commercial and residential developer with schemes across the UK and Ireland, working through commitment to innovation and partnership.
• West Midlands Combined AuthorityminorStrategic or Co-development PartnerThe West Midlands Combined Authority ensures a joined up and strategic approach to regional issues like health, housing and transport. The directly elected mayor of the West Midlands is Richard Parker.
• EngiecoreTechnology or IntegrationEngie operates the District Energy scheme under a long-term contract, distributing low carbon energy in the form of hot water using energy generated from waste burned at the Council's recycling centre.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Helical: London-focused commercial office developer and asset manager with a focus on repositioning and developing Grade A office stock, comparable to Friargate's core Two Friargate Grade A offering.
• Argent: UK mixed-use developer behind King's Cross and Brent Cross Town, delivering large transit-linked regeneration schemes combining offices, retail and residential — directly comparable in business model and asset mix to Friargate.
• Muse Developments: UK joint-venture-led mixed-use regeneration developer often partnering with local authorities on town-centre and transport-adjacent schemes — directly comparable public-private model to Friargate.
• Stanhope: UK commercial real estate developer focused on large mixed-use and office-led schemes (e.g. White City Place), with similar JV-driven regeneration business model to Friargate.
• Ballymore Group: UK and Ireland developer of large-scale mixed-use schemes combining commercial, residential and leisure uses (e.g. London City Island, Embassy Gardens), comparable in masterplan-driven mixed-use development approach.
• Lendlease: Global mixed-use developer and urban regenerator (e.g. Elephant & Castle, Stratford) whose integrated office, retail, residential and energy infrastructure model directly parallels Friargate's masterplan approach.
• Quintain (Related Companies): Developer of Wembley Park, a 85-acre mixed-use masterplan with offices, residential, retail and leisure — a directly analogous large-scale UK mixed-use regeneration JV in structure and asset mix.

Broad incumbents

• British Land: Large UK REIT developing and owning Grade A office, retail and mixed-use campuses (e.g. Broadgate, Paddington Central); broader incumbent in the same commercial property category with overlapping office leasing activity.
• Canary Wharf Group: Owner and developer of the Canary Wharf estate — a large mixed-use commercial campus including Grade A office, retail and leisure — comparable in transit-linked masterplan Grade A office strategy.
• Landsec: UK's largest commercial property company with significant Grade A office exposure across London and major regional cities; comparable as an incumbent owner/operator of UK commercial real estate, though at much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/friargatecov
• LinkedInlinkedin.com/company/two-friargate-coventry

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friargate