Oxenwood Real Estate, the UK and European real estate investment management firm, has signed a lease agreement with Neovia Logistics, a global supplier of logistics services, for a 172,342 sq ft facility in Coventry.

The facility, Coventry 170 (formerly, Godiva 170), at Blue Ribbon Park off the A444 was acquired with vacant possession from an owner-occupier in December 2018 by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings(Bermuda) Ltd. Following a light refurbishment, it has been let to Neovia on a five-year lease.

Oxenwood was advised by Moriarty & Co, M1 Agency and Knight Frank; Neovia was advised by CBRE.

Stewart Little, co-founder of Oxenwood, said: “The letting of the Coventry asset within such a short period from purchase supports one of our strategies of buying vacant units to provide flexible and cost-effective accommodation to areas of strong occupier demand. We will continue to deploy capital into markets where we have conviction in occupational markets and can create strong income returns to our investors”.