Clearbell lets 35,800 sq ft in Coventry
Clearbell Capital, the private equity real estate fund manager, today announces that the Fund it manages has completed leasing deals on c.35,800 sq ft in Coventry across two assets.
The deals comprise of 10,800 sq ft at Earlsdon Park and c.25,000 sq ft at Belgrade Plaza.
Band Hatton Button has let office space at Earlsdon Park, totalling 3,000 sq ft, as well as a former retail unit of 7,800 sq ft, which will serve as front-of-house for the tenant.
Existing tenant Premier Inn has agreed to extend its lease obligations on a 120-bed hotel at Belgrade Plaza to a straight 20 year term.
Dominic Moore, Head of Asset Management at Clearbell said: “These lettings demonstrate the buzz and strength of business in the regions, and Coventry is no exception.
“With its vibrant business community, the city has benefited from the recent rise of Birmingham as a destination for big business. Locations on the outskirts of Birmingham, like Coventry and Solihull, will continue to see the ripple effects of the business boom in the region. Regeneration in Coventry is appealing to local businesses and driving demand for good office space.”
About Earlsdon Park
Earlsdon Park is a prestigious site based in Coventry. It is a mixed-use site comprising office, leisure, hotel, and residential space, including a 100-room hotel and a 620-seat theatre. It was originally built as a technical college in 1935 and has since been transformed into offices.
Earlsdon Park was purchased by the Fund in 2015, with plans to deliver Grade-A office space in Coventry, where quality office space is in high demand. Since the acquisition, a number of asset management initiatives have been undertaken. This has included the full re-landscaping of external areas, and full refurbishment of the ground floor office space.
About Belgrade Plaza
Belgrade Plaza is a mixed-use scheme in the centre of Coventry, covering residential, leisure and retail. Belgrade Plaza was purchased by the Fund in 2016 with plans to lease the residential accommodation and to pursue lease re-gears with tenants at the scheme.