In June 2009 D&P Holt were instructed to market Unit 1 on the Seven Stars Industrial Estate in Quinton Road on behalf of the BP Pension Fund. The existing tenant was due to leave at the end of September and BP were keen to attract an occupier very soon after the unit was to be vacated in order to minimise void costs on the building. Interest was shown at a fairly early stage by Coventry Prototype Panels and negotiations were entered into with their Managing Director in the autumn.

Negotiations were satisfactorily completed with Coventry Prototype Panels who signed a new 10 year lease at a headline rent of £5.25 sq ft, although some incentives were granted to enable the fit out and help in the moving forward of the Spyker project. Peter Holt of D&P Holt states “At the time confidentiality was important, but we are delighted to have helped CPP with the Spyker project and the letting of this unit on behalf of the BP Pension Fund very soon after the previous tenant vacated the building.” It was only at the beginning of March that CPP announced the project, which was further announced at the MIPIM Property Conference in Cannes where D&P Holt were in attendance.

Brendan O’Toole states “We are delighted to have been able to acquire the unit so close to our main factory on the Seven Stars Estate to help with the production and assembly of the new Spyker car in Coventry and bring back some car production to the City which is synonymous with the motor industry.”