Lower Precinct is one of the four principal thoroughfares through Coventry's core retail area and is an important link to Coventry Market. As a result of the natural gradient, Lower Precinct provides shopping on two levels and was designed as one of the key focal points in the city centre. It was the last principal section of the city's central area to be rebuilt. Arrowcroft Group Plc, in partnership with the Scottish Life Assurance Company and Coventry City Council, undertook the extensive refurbishment and redevelopment of Lower Precinct necessary to restore its importance to both shoppers and retailers. The project, which encompasses the newly refurbished Coventry Market, comprised the following:-

• The enclosure of Lower Precinct beneath a fine and unobtrusive glass roof to create a high quality covered square, retaining the split level shopping.
• Provision of approximately 25,736m² (277,018ft²) of retail space comprising 29 shops ranging in size from 73m² to 693m² (785ft² to 7,455ft²), together with 4 Large Retail Units, the existing Co-Op department store, restaurants/cafes and kiosks.
• A new multi-storey car park and refurbishment of the market roof parking to provide a total of 580 car spaces.
• Refurbishment of the Rotunda restaurant as a focal feature of the scheme.
• Creation of a new mall linking Lower Precinct to the market, thereby improving pedestrian circulation through this sector of the city centre.
• Improved servicing with service access from Corporation Street.