Unit 3 Progress Way

Binley Industrial Estate, Coventry CV3 2NT
Current Sale
Unit 3 Progress Way
Binley Industrial Estate, Coventry CV3 2NT

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 the 3rd and 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 £4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT, reflecting a net initial yield of 7.04% and £100 per sq. ft. capital value assuming purchasers’ costs of 6.54%

Downloads

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Further Information

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