Bromwich Hardy have acted jointly with GVA in agreeing lettings at Binley Court and subsequently selling the building on behalf of their private client to Coventry City Council.
Their client bought the property with vacant possession and Bromwich Hardy and GVA quickly agreed leases on both floors to produce an annual rental income of £451,000 on 10 year lease terms with 5 yr break clauses.
Following a short marketing campaign the freehold interest was then sold to Coventry City Council at a net initial yield of 7.25%.