Cooper House & Fletcher House, Parkway, Crosspoint Business Park, Coventry, CV2 2UU
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Atlas Real Estate, has successfully advised an institutional client on the disposal of an office investment on Crosspoint Business Park, Coventry. The unit was acquired by Loxton Developments.
The property comprises two detached modern office buildings totalling 35,614 sq.ft NIA, built in the early 1990s.
Cooper House is let to Coventry Building Society on a lease expiring on 2 February 2025, the tenant is not in occupation. The current rent is £380,411 per annum reflecting £15.27 per sq.ft.
Fletcher House is let to Power ON Connections Ltd on a lease expiring on 2 February 2030. The current rent is £154,902 per annum (£15.25 per sq.ft) rising to £182,826 per annum (£18.00 per sq.ft) in February 2025. The tenant has recently re-geared the lease and has the benefit of an 11 month rent free period.
Sampson Moore represented Loxton Developments.
