Unit 3 & 4, Progress Way, CV3

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Key Points

Summary

Single let warehouse investment with reversionary opportunity

Description

Unit 3 & 4 are modern distribution warehouse of steel portal frame construction and insulated profile metal sheet cladding and roof system. The internal office accommodation has recently been constructed.

Location

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.

Terms

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.

Availability_text

The accommodation comprises the following areas: