HARRIS LAMB SELLS COVENTRY’S CO-OPERATIVE STORE TO EDG PROPERTY FOR RETAIL SCHEME REDEVELOPMENT

Harris Lamb has been instructed by the Heart of England Co-operative Society to sell a number of its stores.

 

The business sold the first site, in Coventry city centre, to EDG Property, which has now appointed Make – the firm of architects responsible for The Cube in Birmingham – to help them redevelop the retail scheme.

The sale represented the biggest retail opportunity in the city for 30 years.

Harris Lamb was instructed with joint agents Bruton Knowles to sell the property, with an asking price of £2.5m, and buyers are now being sought for another six buildings across Warwickshire, Leicestershire and Northamptonshire.

David Walton, head of retail at Harris Lamb said: “The sale of the Coventry department store was a fantastic opportunity for the new owners. Located in the heart of Coventry, the property covered three areas- 14/20 Corporation Street, Hawkins Building, 2/12 Corporation Street and the lower precinct 82/92 Lower Precinct, and is the biggest retail space to have come to the market in the city in the past three decades.

“The architects retained by EDG Property have created some landmark buildings and it will be fantastic to see what impact the redevelopment will have on Coventry.

“We are now seeking buyers for several other buildings owned by the Heart of England Co-operative Society in Leamington, Bedworth, Rugby and Hinckley. All the properties are dominant buildings in the town centres and whilst they will be sold with vacant parts almost all of them have some income producing parts. They offer opportunities for investment or redevelopment.

Interested parties should contact David Walton, head of retail, at david.walton@harrislamb.com