Birmingham-based property developer Hortons Estate has acquired its second stake in the Coventry commercial property market in a £4 million deal with Tiger Properties.
The newly acquired Grey-friars office complex on Greyfriars Road consists of seven buildings totalling 34,000 sq ft of space.
The latest acquisition comes only six months after Hortons made its first mark there with the acquisition of Wayside Business Park on Wilson's Lane just off the M6.
Greyfriars is situated in a prime location in Coventry's core office district, with easy access to transport links including the main ring road and train station.
The complex has been acquired fully let and boasts a host of well known tenants including the British Preg-nancy Advisory Service, Focus Housing Association and Michael Page.
Nigel Foster, estate manager for Hortons Estate, said: "The acquisition of the Grey-friars building marks our continued expansion into the Coventry area and our first move into the city centre.
"This purchase offers us an excellent return on our investment and a steady income stream from existing tenants. It is essential to our strategy that we continue to expand the business and we believe that Greyfriars is ideally located to help us to do that."