A former industrial building in Coventry that was damaged by fire has been purchased – with plans to bring it back into business use.
The property in Herald Way, Binley, which was hit by the fire in July, has been bought by Purewal Commercial Estates Limited for £425,000 with the assistance of Holt Commercial and the company plans to create a warehouse/trade counter property on the site. EHB Commercial acted for the vendor.
Demolition of the building is now underway and the company will soon apply for planning permission to create a new commercial unit on the site.
Jonathan Moore, director of Holt Commercial, said: “It will be great to see this property rebuilt and put back to economic and employment use, following receipt of planning permission.
“We are delighted to have completed the purchase on behalf of our client and we are confident that we will be considering pre-let offers from occupiers before completion of the new build, such is the strength of this area of the market.”
Jat Purewal, from Purewal Commercial Estates Limited, added: “We are pleased that the purchase has gone through and we are fully committed to bringing positivity to the local area by creating a new property that will attract a tenant who will create jobs and investment.
“There is a lot of work to be done in the next few months but we are looking forward to bringing our plans forward.”