HQ of Motorola subsidiary snapped up in multi-million pound deal

A 40,000 sq ft office building, which is the headquarters of Motorola subsidiary Airwaves Solutions, has been acquired in a multi-million pound deal.

Corum Asset Management has acquired the building in Rugby, from clients of TH Real Estate for £11.15m, reflecting a yield of 6.75%.

The property is located on Central Park, an established office and industrial park next to Junction 1 of the M6.

Airwaves Solutions has a remaining lease of around 15 years.

Paul Griffiths, executive director of national investment at BNP Paribas Real Estate, said: “It is rare to find well-secured office investments with long, unexpired lease terms and attractive yield profiles in the current market. We are delighted therefore to secure this off-market investment on behalf of our clients.”

Lewis Ellis acted for TH Real Estate and BNP Paribas Real Estate advised Corum.