Building society expands HQ operations

COVENTRY Building Society is expanding its HQ in one of the city’s biggest lettings deals this year.

The UK’s third largest building society is taking office space at the Oak Tree Court building, on Binley Business Park east of the city centre, after agreeing a 15-year lease.

Up to 275 employees will be based at the 30,000 sq ft building which is currently Coventry and Warwickshire Chamber of Commerce’s HQ.

Building society staff will also remain in its existing base next door, the 52,500 sq ft Oakfield House, but following a merger with Stroud and Swindon Building Society in September, extra office space was required.

The move comes after an after an off market deal was proposed and completed by commercial property specialists D&P Holt.

Under the deal, the Chamber will surrender its lease but will continue to occupy around 6,000 sq ft of the building.

Justin Quibell, from D&P Holt which acted on behalf of owners A&J Mucklow, said: “This deal is a boost for the office market in Coventry and the Warwickshire demonstrating that deals are still there to be done and we are delighted to have completed the letting in a difficult but improving market.

“Binley Business Park is a prime business location and Coventry Building Society is expanding into one of the most prominent and prestigious buildings on the development.”

Sally Wrigglesworth, the building society’s head of customer service, said: “The continued success of Coventry Building Society means we are out growing our existing premises.

“OakTree Court offers a great solution, giving us the room to accommodate additional staff close to our other head office buildings.”

Colliers International acted for Coventry Building Society while D&P Holt acted on behalf of landlords A&J Mucklow.