Potential for increased office space in Coventry sees great improvement
According to Savills Estate Agents, the potential for growth in Coventry city centre should not be underestimated.
Though the city is small in comparison to nearby Birmingham, it has managed to secure many major businesses based in the centre, such as Jaguar Land Rover, BT, AXA and the Royal Institution of Chartered Surveyors (RICS).
The new £13m Whitley Business Park situated at the focal point of Coventry’s communication network, close to the motorway network and in particular the M6, the M40 and the M1, will eventually yield 1.1m sq ft of office space, and is expected to produce a significant boom to the regeneration of the city’s commercial property market.
The first phase of the park , known as Lakeside, completed in 2009, yielding 49,578 sq ft of Grade A space across six individual buildings.
It agreed its first let by GET Solutions UK in August of ’09, securing 3,400 sq ft of office space at an annual rent of £17 per sq ft.
At this time of possible change during the general election, there is no guarantee of security for the Coventry market or the economy as a whole, but if it focuses on rejuvenation, it is likely that growth will continue and more major companies will take notice of the city.