A Coventry office complex has changed hands in a £2.2 million deal.
Building 1, Eden Road, Walsgrave Triangle, let to Denso Sales UK, has been purchased by Business Village Ltd from Equitable Life.
Stratford-upon-Avon law firm Lodders advised Business Village Ltd while Hogan Lovells International acted for Equitable Life.
Business Village Ltd was behind the development of Cotswold Business Village in Moreton-in-Marsh and Shipston Business Village in Shipston-on-Stour. It is an investment vehicle of Midlands businessmen Harry Acland and Tony Gaymond.
Denso Sales UK is the UK sales arm of the Denso Corporation, the Japanese provider of engine systems to the worldwide automotive market. The massive group has 200 subsidiaries and affiliates in 35 countries, employs more than 120,000 people, and in the year to March 31, 2012, had consolidated global sales of £28.8 billion, with Denso Sales UK turning over more than £153 million.
Mr Acland stated: “This is a high yielding office investment with excellent potential to add value. We are very happy to have acquired it.”
Paul Mourton, real estate partner at Lodders, added: “It is a top quality building in a prestige location. We were very pleased to advise on the transaction.”
The two-storey property comprises 26,741 sq ft on a two acre site.
Walsgrave Triangle Business Park lies just off Junction 2 of the M6. Other occupants include Barclays, Georg Fischer, Hilton Hotels, Lloyds Pharmacy and Sainsbury’s.