Commercial Property for sale

Alpha Industrial Estate, Deedmore Road, Coventry, CV2

£1,300,000
21,640 sq. ft.

Property Description

Commercial information

  • 21,640 sq ft (2,010 sq m)

Key features

  • A multi-let estate in an established industrial area of Coventry
  • The estate comprises 7 units varying in size from 2,047 sq ft to 3,500 sq ft and totalling 21,640 sq ft
  • Current passing gross rent 117,655 per annum with a net receivable rent of 101,404 per annum
  • Offers based on 1,300,000
  • Net initial Yield of 8.6% ( after 6% purchasers costs )
  • Opportunity to develop and asset manage ( low site coverage of 26% )
  • Planning permission has been secured for an additional 3,725 sq ft adjoining unit 9.

Full description

Tenure: Leasehold

The property is held on a single long lease for a term of 125 years from the 29th September 1989 at a current ground rent of £18,801.50 per annum subject to a 10 yearly upward only rent review pattern, the next rent review being in September 2020. The rent is reviewed to 12.5% of the rack rental value of the whole of the estate or the aggregate of the parts.

The Estate is prominently located on Deedmore Road in the Potters
Green/Wood End area of Coventry, approximately 3 miles north-east
of the city centre and 1 ½ miles from Junction 2 of the M6/M69
interchange and 2.5 miles from Junction 3 of the M6. The Aldermans
Green Industrial Estate is located nearby and creates a critical mass
of industrial occupancy. The property comprises 7 industrial units predominantly of steel portal frame construction with park brick part profile clad elevations under profile clad roofs. The height to eaves heights range from 3.6m to 6m. All workshops and warehouse areas are single storey. There is a an electricity sub station on site together with a telecommunications mast. Access is from Deedmore Road over the estate road which is maintained through the service charge and loading is via roller shutter doors to the front of each unit. There are car spaces to the front and side of the units with an additional central car parking area.

Planning permission has been secured for for an additional 3,725 sq ft
adjoining unit 9.

We are instructed to seek Offers based on £1,300,000 subject
to contract. The purchase at this price would represent an
initial yield of 7.4% after 6% purchasers costs.


More information from this agent

Nearest stations

  • Coventry Arena (1.7 mi)
  • Bedworth (2.8 mi)
  • Coventry (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bromwich Hardy, Coventry

1 The Cobalt Centre Siskin Parkway East, Middlemarch Business Park, Coventry, CV3 4PE

02475 060163 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Coventry Arena (1.7 mi)
  • Bedworth (2.8 mi)
  • Coventry (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bromwich Hardy, Coventry

1 The Cobalt Centre Siskin Parkway East, Middlemarch Business Park, Coventry, CV3 4PE

02475 060163 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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