Government agrees "major" Coventry lease
The government has taken a 15-year lease on a unit in Greyfriars Road, Coventry. The lease, on more than 13,000 sq ft of space, is believed to be the biggest agreed in the city centre in the past 12 months.
It is being taken on by the Department for the Communities and Local Government (DCLG).
The lease at Sheriffs Court in Greyfriars Road will allow the probation service to work in a single building in the city.
Property agent Savills represented the Deeley group, which owns the ground lease on the site. DTZ acted on behalf of the DCLG.
Progressive Investments, the freeholder of the building, was represented by Harvey Williams Property Consultancy.
Tim Hurdiss, of the Deeley Group, said: “This is a substantial deal in any circumstances but when you consider the tough market place, this is a major letting.
“This is a significant office property in the city centre and we are delighted to see it being occupied once again.
“The knock-on effect for the rest of the city centre should be positive because it has been said for many years that it requires more office workers to boost the leisure and retail sector.”
Due to current market conditions, the relocation was said to be "cost neutral" to the occupier.
