Telecommunications firm Arqiva has struck the largest occupational deal in Warwick for eight years.
The firm has sold the freehold of the 50,258 sq ft Wireless House on Warwick Technology Park to an unnamed private investor. Terms of the deal were undisclosed, however, the guide price was £7m.
The purchase of the building is the largest occupational deal by square feet in Leamington or Warwick since Wright Hassell acquired 45,000 sq ft of space at Tachbrook Park in 2006.
Jonathan Ottewell, associate at Savills, which advised Arqiva, said: “The availability of Wireless House on the open market was a rare opportunity as the park is almost always fully occupied and this was reflected in high levels of local, regional and national interest.
“The improving economy and increasingly competitive employment market is driving occupier demand for this type of property and as a result the out-of-town office market, including Solihull and the M42, is now going through a period of reduced availability.”
