The first phase of a major new office scheme on the Coventry and Warwickshire border has been heralded a major success after selling out.

The Cobalt Centre, which is being developed by Cobalt Developments, is situated on the Middlemarch Business Park close to Coventry Airport.

The first phase saw seven modern office properties developed to attract expanding businesses in the area - and, just a few months after practical completion, the last unit has been sold. It marks an outstanding achievement for joint commercial agents Evans Hardy Bromwich - who themselves have located to the development - and Shortland Horne.

Chris Swan, managing director of Cobalt Developments, said: "This is a major success. The Cobalt Centre has proved, yet again, that if you give businesses the right type of offices in the right location, they will buy commercial property. To have the first phase sold out so quickly is great news and now the second phase is nearing completion."

Enquiries regarding the further six units which are being added to the development are already mounting.

The offices in the second phase range from 2,250 sq ft to 3,120 sq ft with prices starting from just £461,250 to purchase and £38,250 per annum exclusive to rent.

David Penn, a director of Shortland Horne, said: "There are still excellent opportunities for companies to buy or let here at the Cobalt Centre and we have strong interest from several. We are confident the second phase will prove to be just as popular as the first."

Tom Bromwich, a director of EHB, said: "We certainly know all about the quality of the scheme as we have invested ourselves and moved to the site."