THE largest office letting in Coventry city centre over the past 12 months has been completed.
The Department for Communities and Local Government has taken 13,339 sq ft at Sheriffs Court, next to the Coventry Retail Market, on a 15-year lease for an undisclosed rent.
The move will enable the Probation Service to consolidate its services in Coventry into one building.
The ground lease is owned by the Deeley Group, which was represented by Savills, and DTZ acted on behalf of the DCLG.
The freeholder of the building – Progressive Investments – 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 cost neutral to the occupier. Harvey Williams added: “This is a great deal for the property and for the city.
“Sheriffs Court is a landmark building and to attract such a prestigious tenant as the Probation Trust, which is making this its flagship building in the city centre, is very good news all round.
“The property was always well situated but the advent of Friargate and the whole redevelopment of the station quarter puts it right in the hub of the city.”
Sheriffs Court was built in 1998 and is over four storeys.
