Both potential properties are currently empty and would need to be refurbished before they could be let out
Coventry City Council is looking at buying either industrial land on the Edwick Point site near the Gallagher Retail Park or office buildings on Wheler Road on the Seven Stars Industrial Estate to "increase revenue income, supporting the services it seeks to deliver".
Both potential properties are currently empty and would need to be refurbished before they could be let out.
But a report prepared for councillors states they would be good investments.
According to the report, Drake Howard, the council's independent property agent, is "confident that the units will let well".
"Due to a current lack of supply of new industrial accommodation in the city, demand for space remains strong," the report adds.
But it also reveals a risk to the council's finances if the properties were bought and tenants could not be found.
"Acquiring vacant units rather than tenanted premises adds an element of risk around the ability to secure tenants," the report adds.
"In both property cases, these have been mitigated by selected good quality accommodation located on well connected and established business locations.
"The accommodation is flexible in terms of the size and of accommodation and what each property can be used for, increasing the target market as wide as possible.
"In addition, independent property advice has been taken which supports the view that the units will attract tenants based on assumed rental levels."
More empire building!
