Aviva acquires £73.4m Coventry site
Aviva Investors has acquired a 490,000 sq ft site worth £73.4 million at Prospero Ansty near Coventry to be let to global engineering business Meggitt on a 30-year lease.
The site is currently under development and is to be purpose-built for aerospace thermal management technology, support innovation within Meggitt’s manufacturing business and to offer accommodation for 1000 staff in the future.
“This was a complex acquisition with multiple stakeholders to manage, our time line was tight and we had to adopt innovative ways to achieve a design build and lease back vehicle to meet our goals,” said Meggitt group property director Jonathan Jones.