Barclays Property Holdings is putting its 6,038 sq m (65,000 sq ft) office building, Sapphire Court, at Walsgrave Triangle Business Park in Coventry, on the investment market for a figure believed to be around £13m.
At that price, in a West Midlands market which is short of good quality investment opportunities, Barclays would be offering the investment at an initial yield of around 6.5%.
Peter Holt, director at local agent D&P Holt, confirmed that his firm had been instructed to advise on the investment but would not comment further.
Pharmacutical giant AAH signed a 15 year lease on the building for a rent believed to be around £139.93 per sq m (£13 per sq ft) last year.
The German GEHE group subsidiary, which has just acquired Lloyds Retail Chemists, leases two units and has access to 360 car parking spaces. Walsgrave Triangle is to the east of Coventry city centre.
EGi News 21/01/98
