22 Brindley Road | The building is of concrete floor base, steel portal frame construction with brick elevations. The front section of the building contains two floors of offices under a flat roof, with the rear section housing an industrial unit with two roller shutter entrances and an eaves height of 3.78m/ apex of 4.44m, under a pitched corrugated metal sheet roof. To the rear of the industrial unit is a small workshop leased by the Premier Group, but in the ownership of a separate party and not included in the sale. External to the building is a surfaced parking area to the front, capable of housing around 10 vehicles. Between unit 22 and 24 is gated access to a communally shared yard, giving access to the rear industrial areas of both buildings.
24 Brindley Road | The building is of concrete floor base, steel portal frame construction with brick elevation. The front section of the building contains two floors of offices under a flat roof with the office space having been completely refurbished to a high specification, including full double glazing and air conditioning. The rear section of the building again houses the industrial space with a single roller shutter door access and eaves height of 5.40m/ apex of 7.70m, with of a side section/ lean-to at single storey height. Externally to the front of the building is a surfaced parking area for about 10 vehicles. As previously mentioned there is a securely gated yard between units 22 and 24, which measures 0.15 acres (0.06 Hect).
Situation and Location
Brindley Road is situated centrally on the historic and well renown Bayton Road Industrial Estate, to the North of Coventry City. Bayton Road Industrial Estate is situated within 1 mile of Junction 2 of the M6 motorway, making it one of the most effectively located industrial estates in the Midlands, with access to the national road network thereafter. The subject properties lie to the Eastern end of Brindley Road, with the main headquarter building occupying a corner plot with frontage on Bayton Road also.
Summary Situation and Location
The West Midlands has seem a sharp rise over the past couple of years in Industrial property values, with availability of both freehold and leasehold option in very short supply. The Coventry Area has perhaps benefitted most from the investment from Jaguar Land Rover in the area South of the city, which has had a knock on effect with suppliers taking a number of the available industrial spaces. Industrial estates around the city have seen rental rises on a steady basis for both old and new stock, with occupancy levels high and demand for available space strong.
22 Brindley Road EPC Rating D - 83
24 Brindley Road EPC Rating C - 72
Strictly by appointment with the agent Bromwich Hardy.
Each party is to bear their own legal and surveyors costs incurred in this transaction.
Two freehold units at the heart of Bayton Road Industrial Estate.
Combined rental of £95,183 per annum
7.19% Net Initial Yield after purchasers costs of 5.96%.
Let to The Premier Group (Coventry) Limited, with just under seven years remaining.
Units have been refurbished in part to high quality,Further refurbishment planned throughout remaining tenancy
The purchaser will benefit from any remaining capital allowances.
( Agency Pilot Software Ref: 1296 )