Graham has taken over a £44m former ISG project to turn a former retail outlet into a cultural hub.
The City Centre Cultural Gateway project is set to see a seven-storey former Ikea store in Coventry retrofitted with gallery and collections space, as well as a cafe, library, dance studio, conference area and post-production filming facilities.
ISG was awarded the contract for the project in July 2024 and had started on site when it collapsed in September, leaving dozens of projects half-built and creditors more than £300m out of pocket.
Coventry City Council cabinet member for housing and communities Naeem Akhtar said: “Despite unforeseen and challenging circumstances, Coventry City Council has moved swiftly to secure a new contractor to get the project back on track and within the approved budget, meaning no additional money is needed for the construction.”
Graham regional director Ronan Hughes said: “The City Centre Cultural Gateway is an exciting scheme that will transform a former retail space into a world-class hub for arts and culture while providing long-term benefits for the local community, economy and creative industries.
“We understand the importance of getting this project back on track and our priority is to deliver a new cultural destination that meets the needs of all partners and stakeholders.”
The job was the last contract win announced by ISG before its collapse.
It was the only bidder for the Coventry project first time around, according to a Freedom of Information response seen by Construction News, but it was paid less than 4 per cent of its fee before entering administration.
The scheme was originally due to be completed this year. Graham is now due to complete the work by the summer of 2026.
The council bought the former Ikea site in 2020 and said its new use would be as a “central hub for culture and community in the heart of the city centre”, adding that it will “not only enrich Coventry’s cultural landscape but also stimulate economic growth”.
Coventry University is set to take two floors of the revamped cultural hub building, with Arts Council England and the British Council also planning to move in.
