Hortons sells Coventry office development
08 October 2018
First Urban has acquired the city centre office development from the Birmingham-based property company.
Greyfriars Court, on Greyfriars Road, comprises 50,000 sq ft of office space.
First Urban, a London-based property investment and development company, is exploring alternative uses for the building, including residential conversion and student accommodation.
Richard Norgrove, property director at Hortons’ Estate, said: “The sale of the property follows a strategy of rebalancing the existing portfolio. We were pleased to work with First Urban who conducted the transaction professionally.”
The deal reflects a net initial yield of six per cent.
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