A notorious eyesore at the top of Caerphilly town could soon be replaced with shops and homes.
A planning application to tear down Lawrence House, also known as the CoCo building, on the corner of Cardiff Road and Clive Street has been submitted to Caerphilly County Borough Council by owners Ludlow Street Investment Corp.
The scheme follows the collapse of the much-heralded regeneration of the top of Caerphilly town centre after a bid for £6million Welsh Assembly cash by the council was turned down.
A spokesman for Ludlow Street Investment Corp said: “As commercial property developers, we have for a number of years sought to redevelop this prominent site but have been frustrated by the strong commitment by the planning authority to the larger regeneration scheme that has failed to find the funding and support that it needs to become a reality.
“We have always believed that the top of town in Caerphilly needs regeneration but that it needed to be piecemeal and achievable. It is our stated aim to be the genesis of this regeneration by delivering a building that not only meets the needs of the community in this part of the town but also has a design that is modern and will stand the test of time.”
The scheme would replace the ageing building with shop space on the ground floor and ten flats on three floors above.
Local estate agents Brinsons has been charged with finding an anchor tenant for the shop space.
Caerphilly AM Jeff Cuthbert has welcomed the plans but has said he hopes it is not just another false dawn.