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BMO property secures 47k sq ft letting at Leofric business park, Coventry

BMO Property Growth and Income Fund, represented by international real estate advisor Savills, has let an industrial unit at Leofric Business Park in Coventry to Socotec UK following a comprehensive refurbishment of the site.

Socotec UK, a provider of testing, inspection and compliance services, has agreed a new 15-year lease for the 47,279 sq ft (4,392 sq m) unit.

Located on Progress Close, Leofric Business Park is situated 3.5 miles from Coventry City Centre and benefits from its close proximity to the motorway network with the M6 and M69 a short drive away.

Christian Smith, industrial and logistics director at Savills Birmingham, comments: “In spite of the current uncertainties, this unit generated strong levels of interest and we’re delighted to have completed the letting on behalf of our client. The investment from BMO into the property has created an attractive asset in an excellent location.”

George Gay, fund manager at BMO Global Asset Management, adds: “We’re pleased to have completed this deal, which demonstrates the continued strength of the industrial market in the Coventry area and the appeal it holds for a range of occupiers.”

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