Units 1-2 & 15 & 17, Henley Industrial Park, Coventry CV2 1STDownload the Sales Brochure Make an enquiry
Multi let industrial / trade investment located to the north of Coventry city centre, within 2 miles of J2 of M6.
Located on Henley Industrial Park. 4 unit multi let trade/industrial scheme, two units built in 2017.
The units extend in total to 24,798 sq ft on a Gross Internal Area basis. The site is 0.58 hectares (1.43 acres).
Fully let to four tenants. There is an AWULT of 5.6 years to expiries and 4.4 years to breaks. Two of the tenants have previously renewed their leases.
The current combined rent is £190,360 per annum. Screwfix represents 27.5% of the current income. Rents range from £6.92 per sq ft to the most recent letting at £9.50 per sq ft.
Based on our ERVs there is over a 20% reversion from current rental levels.
We are instructed to seek offers in excess of £2,650,000 (Two Million Six Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this price would reflect a net initial yield of 6.75%, assuming costs of purchase of 6.42%.
Screwfix have a rent review in January 2024 which will enable an investor to capture a significant proportion of the reversion. Based on our ERVs the final reversion is 8.21%.
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