REPRICED - Unit 3 Progress Way

An opportunity to acquire a single let warehouse and offices with excellent rental growth potential.

• Located on the established Binley Business Park in the heart of Coventry and within the UK’s premier logistics “Golden Triangle”
• Excellent transport links to the M6, M45, M42 and M1 motorways
• Extending to approximately 39,895 sq. ft. of warehouse, office and ancillary accommodation. Warehouse eaves height of 9.6m
• Freehold
• Let on effective FRI terms to HydroGarden Limited who have an Experian credit rating of 100 reflecting very low risk
• Initial rent £300,000 per annum equating to £7.52 psf overall.
• 10-year lease, with tenant only option to break on 5th year anniversary to commence upon completion of sale. Lease is subject to a schedule of condition.
• Hydrogarden occupy the adjoining unit and there will be the right of first refusal to acquire, if the property were to be sold

Offers in excess of £3,630,000 (Three Million Six Hundred and Thirty Thousand Pounds) subject to contract and exclusive of VAT, reflecting a net initial yield of 7.75% and £91 per sq. ft. capital value assuming purchasers’ costs of 6.54%