Council to sell land to speed up redevelopment

An old factory site in Coventry could be sold by a council to make the land easier to redevelop.

Engineering company Sandvik, which owns two-thirds of the site on Torrington Avenue, Tile Hill, is aiming to purchase the rest of the land from Coventry City Council.

The company closed the factory, which produced specialised tools at the site, in 2023 after moving the operation to its native Sweden.

According to council papers, a condition on the sale will mean the land cannot be developed into homes.

Documents do not reveal how much the council would get from selling the land or its current rental income, but the decision is listed as having "financial implications of over £1m".

A report by a senior council officer said the best option would be to allow the sale to Sandvik.

He claimed the factory site would need to be redeveloped due to its ageing buildings, and experts believe development would be "much more challenging" if there was a mix of ownership.

Cabinet member Jim O'Boyle, who heads up jobs and regeneration at the council, is expected to sign off on the plans next week.

If it is approved, the site could be sold within 10 working days of the ruling.

This news was gathered by the Local Democracy Reporting Service, which covers councils and other public service organisations.

Follow BBC Coventry & Warwickshire on BBC Sounds, Facebook, X and Instagram.