A client of Drake Howard Property has displayed confidence in the office market and taken surrender of a lease from Yazaki Europe Limited on office premises at Brandon Court. The lease had four and a half years remaining until a tenant break option in June 2025, producing a full rental income stream. So, not a decision you might expect in current circumstances!
Martyn Howard said, we entered negotiation with a tenant that had shifted focus to its operations on the Continent and Worldwide and wished to close their UK base in Coventry. They were prepared to pay the Landlord for disposal of the unwanted overhead, and we arrived at a figure to cover potential rent, service charge and business rates voids, dilapidations and building modification costs.
With the surrender completed, Drake Howard Property has placed the office on the market to let as a single office, 12,000 sq. ft., or in sub-divided self-contained parts of 3,585 & 8,415 sq. ft. and parking for 50 plus cars.
The space is fitted to a high standard and comes with a fully furnished, ready to move in, option. Fixtures include raised floors, 2 pipe partial heat recovery comfort cooling, acoustic ceilings, and LED lighting. Feature reception and glazed partitioned conference & meeting rooms. Stunning kitchen break-out area and toilet facilities and dual electric vehicle charging point.
The owner and agent believe in the return of a strong office market, despite the likely increase in home working for part of the working week. Innovation and productivity are critical drivers for office working and this top-quality accommodation in a landscaped courtyard setting, is well placed to meet new spatial criteria.
Well placed location wise too, being next to the A46 for access to the Midlands motorway network. Close to Binley Office Park and research and engineering businesses at Ansty. The new Jaguar Land Rover HQ and development sites at Coventry & Warwickshire Gateway and exiting Jaguar engineering home at Whitley. Neighbours at Brandon Court include Microsoft and Minitab.