Canmoor and Tristan Capital Partners are undertaking a £5m refurbishment of the Aura building at Precision Park, adjacent to Spa Park, in Leamington Spa. Tristan, in conjunction with Canmoor, acquired the building in February.
The three-storey 65,000 sq ft office premises was formerly headquarters to plumbing, heating and cooling trade merchants Wolseley.
Fit out contractor Overbury has won the brief to upgrade Aura, which will include new LED lighting, raised flooring, new plank metal suspended ceilings, VRF air conditioning and new carpeting. There will be a new feature reception with full height atrium and additional occupier amenities, including a new café, shower and locker facilities. The refurbishment, due for completion in February 2020, will deliver some much needed Grade A supply to the Warwickshire office market.
Toby Saul, asset manager at Canmoor, said: “Aura served as Wolseley’s HQ for ten years. Our investment will make the landmark building the best in class in the Warwickshire office market.”
BNP Paribas Real Estate and JLL are marketing the premises, which is available as a single let, or floor by floor.
Jonathan Carmalt, director of office agency at JLL, said: “Aura sits on a self-contained landscaped corner plot fronting Harrisons Way and Tachbrook Road, and boasts ample car parking. It will suit a single occupier looking for a statement HQ. Alternatively, it can be let floor by floor. Each floor plate is circa 22,000 sq ft – a real sweet spot for occupiers at the moment.”
Mark Robinson, senior director of office agency at BNP, said: “Office supply in Warwickshire and nearby Solihull is at a ten-year low and insufficient to meet current levels of demand. 20,000 plus sq ft floorplates are particularly sought after because of their ability to deliver highly efficient space. Against this backdrop we are already seeing strong interest in Aura.”