Property investor M&G Real Estate has secured the first letting at Imperial Park in Coventry in the English Midlands to leading offsite provider for the construction industry, Innovaré Systems Ltd. Innovaré will take 64,000 sq ft on a 10-year lease at the new scheme, which was developed by M&G Real Estate.
Imperial Park is a speculative development of three Grade A warehouse distribution units of 348,498 sq ft, 166,269 sq ft and 64,096 sq ft respectively, totalling over 575,000 sq ft across the scheme, which completed in May this year.
The scheme is located in the ‘Golden Triangle’ of logistics warehouses, just four miles from Coventry city centre and with immediate access to a number of major road systems, as well as Coventry airport. Imperial Park is designed to meet growing occupier demand for high quality warehouses with excellent accessibility to the UK’s regions and major cities, with over one million addresses within a 30-minute drive.
It has been built to market-leading specification, having been designed to achieve BREEAM ratings of ‘Very Good’ and EPC ratings of ‘A’.
David Crowley, Head of Industrial & Logistics at M&G Real Estate, said: “We are delighted to announce the first letting at Imperial Park, which underlines the strength of both the location and specification of the scheme. This is a real vote of confidence in the speculative development, and we have received strong levels of interest in the remainder of the scheme. We are looking forward to announcing further lettings soon.”