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£4m Purchase of Coventry Office Complex

£4m Purchase of Coventry Office Complex

According to TheBusinessDesk.com, Binley Business Village has been acquired in a £4m sale and 25 year leaseback deal, which will see Archaylen Property purchase the site from ExtraCare Charitable Trust.

The £3.97m purchase represents a rental yield of 6.35% with Archaylen Property Managing Director, Andrew Screech describing the acquisition as “a bedrock of secure income for the business from which to build.

Moving forwards, we will be seeking further modern properties in the office, industrial and residential sectors with genuine potential for rental and capital growth.”

Knight Frank advised on the purchase, with their Investment Agent, Jonathan Devaney labelling the business village as ΓÇ£one of Coventry’s premier business parks, boasting a strong range of corporate occupiers.ΓÇ¥

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Author: | October 6, 2011 | 0 Comments

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