Office block sells for £400,000 in deal brokered by Bromwich Hardy

The outside of 6 The Cobalt Centre

A Coventry office block has changed hands for more than £400,000 in an investment deal concluded by commercial property specialist Bromwich Hardy.

PLP Investments Limited of Leamington Spa has acquired the offices at 6 Cobalt Centre on Siskin Parkway East from Inspire Investments Holdings in a deal overseen by Bromwich Hardy partner David Penn.

David said the sale – for £410,000 – showed there was considerable interest in investment opportunities in high-quality, modern offices as business started to recover from the impact of the pandemic.

“The picture which is emerging is one of a hybrid culture in which office space will continue to play a central role for the vast majority of businesses for a good many years to come. That being the case it will remain an attractive proposition for investors.

“Well-built, modern and well-positioned accommodation such as this will continue to generate strong interest, particularly when it comes with a high-quality tenant on a long lease.

“In this case, the office is home to Polar, an international manufacturer of high-tech health and fitness monitoring equipment, which only recently agreed a five-year lease on the two-storey offices in a deal we again concluded.”

David said the 3,178 sq ft site was superbly located – close to Coventry Airport and with good access to the motorway network – and ticked many of the boxes investors were looking for in the current market.