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%