The 800m2 exhibition space is based in the old reel store at the former home of the Coventry Evening Telegraph newspaper – now home to the Telegraph Hotel.
The deal was completed for Coventry City of Culture Trust and has seen more than 20 new jobs created.
Nathan Hinks, associate in Wright Hassall’s commercial real estate team, who handled the lease, said: “I am really pleased to have helped secure this for Coventry City of Culture Trust.
“This an original use of what was a disused, vacant space, and will create a unique new visitor attraction for the region as well as jobs.”
The site will feature innovative experiential art commissions.
The Reel Store has been backed by funding from partners including the Department for Digital, Culture, Media & Sport; Coventry City Council via the Council’s Cultural Capital Investment Fund; the Government’s Getting Building Fund through the Coventry and Warwickshire Local Enterprise Partnership (CWLEP); The Patrick Trust; The Linbury Trust; Edward Cadbury Charitable Trust and Coventry and Warwickshire Chamber of Commerce.
Martin Sutherland, Chief Executive of Coventry City of Culture Trust, added: “The Reel Store is a hugely exciting venture, with Coventry becoming home to the UK’s only permanent, truly immersive digital art gallery, a major draw for Coventrians and visitors.
“We are delighted that our partners have backed the vision for this new visitor attraction, transforming old media into new media, as part of the legacy of our year as UK City of Culture.”
Pictured: Wright Hassall Associate, Nathan Hinks, and Chief Executive of Coventry City of Culture Trust, Martin Sutherland.