Atlantic Airlines has acquired 4,282 sq ft at Middlemarch Business Park, Coventry.
The cargo airline, part of West Atlantic Group, has taken a ten-year lease on the ground floor, east wing of 2M on Siskin Drive. The rent agreed is £16.50 per sq ft and includes 21 parking spaces.
Middlemarch is a 94,000 sq ft office park located three miles from Coventry city centre. It boasts five separate office buildings set in nine acres of landscaped grounds.
The park was acquired in early 2016 by Bridges Fund Management, in partnership with Evenacre, in a £7.55m deal.
The partners have invested more than £3m upgrading vacant buildings at the park to Grade A standards, alongside improvements to the landscaping and a comprehensive rebrand. A new coffee shop, Java Lounge, has joined existing tenants including lift maker Schindler, law firm Brindley Twist Tafft & James and Baldwins Accountants.
Paul Jones, managing director at Evenacre, said: “Our investment in improving the park’s premises, environment and facilities is paying off with Atlantic joining new occupier Arden University on our tenant roster.”
The Birmingham office of JLL advised on the letting to Atlantic.
Vicki Burnett, senior surveyor at JLL, said: “Lettings at Middlemarch have been sluggish in the last few years as the site was cut off by the improvement works to the nearby Tollbar Island on the A46.
“Now these are complete, the site is well connected to the M6, M40 and A45. This, along with the landlord’s investment programme, is proving a draw to potential occupiers and we have a steady stream of enquiries for space.”
Joint agents on the Park are Knight Frank.
Suites of 1,784 sq ft – 3,871 sq ft remain at Middlemarch, with self-contained office builidings of 4,772 sq ft and 23,019 sq ft.