Unit 3 & 4, Progress Way, Binley Industrial Estate, Coventry, CV3 2NT
£103.35 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
74,118 sq ft
6,886 sq m
- SECTOR
Distribution warehouse for sale
Key features
- 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 M6, M45, M42 and M1 motorways.
- Extending to approximately 74,118 sqft of warehouse, office and ancillary accommodation across both buildings. Warehouse eaves varying between 9.6m and 10.5m.
- Freehold
- Both leases let on effective FRI terms to HydroGarden Limited who have an Experian Credit Score of 100 reflecting very low risk.
- Cumulative initial rent of £572,000 per annum which equates to £7.72 psf.
- Both units are to be let on coterminous 10-year lease with a 5-year tenant only break option. These leases shall commence upon the completion of the sale and shall be subject to schedule of condition.
- Offers in excess of £7,660,000 (Seven Million, Six Hundred and Sixty Thousand Pounds) subject to contract and exclusive of VAT. Reflecting a net initial yield of 7.00% and a capital value of 103 per
- Sale and leaseback
Description
Coventry’s position at the heart of the Golden Triangle provides excellent connectivity for national and international distribution companies, with 90% of the country’s population being reachable within a 4-hour drive time. The property is situated only 3.5 miles from Junction 2 of the M6/M69 Motor Way junction intersect, providing excellent connectivity to all major cities within the East and West Midlands. Additionally, the property is approximately 95 miles Northwest from London and 110 miles Southeast of Manchester. Coventry is the ninth largest city in England with a population in excess of 360,000 and a GDP of over £11 billion. This is largely driven by the advanced manufacturing and engineering sectors, given its strong geographic location and access to a large employment catchment.
The unit is located on the well-established Binley Industrial Estate, which is home to numerous national and regional occupiers. Notable neighbouring occupiers on the industrial estate include: Vetrotech Saint Gobain, SOCOTEC, Dulux, Howdens and Screwfix.
Cumulative initial rent of £572,000 per annum which equates to £7.72 psf on a 10 year term with a 5 year tenant only break.
Brochures
Unit 3 & 4, Progress Way, Binley Industrial Estate, Coventry, CV3 2NT
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Coventry Station3.4 miles
- Coventry Arena Station4.4 miles
- Canley Station4.8 miles
About Bromwich Hardy LLP, Coventry
1 The Cobalt Centre Siskin Parkway East, Middlemarch Business Park, Coventry, CV3 4PENotes
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