Coventry Building Society is to expand is headquarter operation in one of the biggest office lettings deals of the year.

Coventry – the UK’s third largest building society, which merged with Stroud & Swindon Building Society earlier this year – is expanding operations to the Oak Tree Court building on the Binley Business Park after agreeing a new 15-year lease.

Up to 275 employees will be based at the 30,000 sq ft building which is currently the headquarters of the Coventry and Warwickshire Chamber of Commerce, after an off market deal was proposed and completed by commercial property specialists D&P Holt.

Under the deal, the Chamber will surrender its lease but will continue to occupy around 6,000 sq ft of the building.

Justin Quibell and Sally Wrigglesworth

Justin Quibell, from D&P Holt which acted on behalf of owners A&J Mucklow, said: “Through our market knowledge we identified a solution which has worked for all parties.

“This deal is a boost for the office market in Coventry and the Warwickshire demonstrating that deals are still there to be done and we are delighted to have completed the letting in a difficult but improving market.

“Binley Business Park is a prime business location and Coventry Building Society are expanding into one of the most prominent and prestigious buildings on the development.”

The building society currently occupies the 52,500 sq ft Oakfield House, also on the Binley Business Park.

Coventry Building Society’s Head of Customer Service, Sally Wrigglesworth, said: “The continued success of Coventry Building Society means we are out growing our existing premises. OakTree Court offers a great solution, giving us the room to accommodate additional staff close to our other head office buildings”.

Coventry Building Society’s agent for the Binley Business Park deal was Colliers International, while D&P Holt acted on behalf of landlords A&J Mucklow.