Consortium of investors swoop for business park

A private consortium has bought a prominent Coventry office park for £1.35m.

The investors have purchased the freehold of Whitley Business Park, which comprises five office units, from Hansteen in an off-market deal through Holt Commercial.

Hansteen bought the park in mid-2018 as part of a wider portfolio from developer St. Modwen and then agreed the sale to the consortium.

Three of the units are owned and occupied long leasehold, while two of the units are on occupational leases.

Jonathan Moore, of Holt Commercial, said: “I was approached by a private consortium which wanted to invest in commercial property in the city. I had the initial conversation with St. Modwen about Whitley Business Park some time ago, but they were in the process of selling it as part of a wider portfolio to Hansteen.

“I kept firm tabs on the transaction and once that had gone through, I dealt with Hansteen direct and agreed the purchase on behalf of my clients. This represents a really good investment for the consortium. Holt Commercial has also been appointed to manage the property as well as dealing with all professional and agency work going forward, and I am really pleased to be involved.”