£5,750,000
Industrial for sale
Property photos
Just added
Freehold
£5,750,000
(£25,109.17/sq. ft)
Industrial for sale
West Park Trade Centre, Coventry, Coventry CV4From 229 - 8,448 sq. ft
Local area information
Property location
Nearby amenities
- Finham Park 2 0.2 miles
- Templars Primary School 0.3 miles
- Tile Hill 0.8 miles
- Canley 1.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- 3 acre site
- Asset Management Opportunities
- Parking Provision
- 24/7 access
- Central Service Yard
- Secure site with gated access
Description
West Park Trade Centre extends to 60,433 sq ft gia across 17 industrial units, 3 offices and a café. The estate comprises a mix of industrial and trade counter units, which have been developed over a number of years. The units are predominantly constructed of steel portal frame with profile metal cladding and brick elevations.
The three office buildings situated at the front of the estate are constructed of brick elevations under flat roofs.
The estate occupies a site of approximately 3 acres, providing low site coverage and future asset management potential.
Location
West Park Trade Centre is located within the established Industrial Area of Torrington Avenue to the west side of Coventry, approximately 3 miles west of Coventry city centre.
The estate is located on Torrington Avenue, providing excellent access to the A45, A46 and in turn the M6 and M42. Birmingham is located approximately 20 miles to the northwest, with London approximately 100 miles to the south. Coventry benefits from strong transport connectivity, with nearby mainline rail services from Coventry Station to Birmingham, Leamington Spa, London Euston and other major UK cities.
The surrounding area is characterised by a mix of industrial, trade counter and roadside occupiers. Notable nearby occupiers include Amco, als Laboratories and Kite Packaging.
Tenancies
The estate is let to 11 industrial tenants, a café, a retailer, 3 conventional office leases and 12 flexible office tenants across 60,433 sq ft in total.
The total passing rent is £510,663 per annum with a WAULT of approximately 2.9 years to expiry and 2.6 years to break.
42% of the income is secured by Screwfix, Toolstation, Clements Tool Hire. 80 % of the income designated “Very Low Risk” by Credit Safe. The landlord will provide a 12 months rent, rates and service charge guarantee on the vacant flexible office suites.
Asset Management
• Re-gearing leases and securing longer income
• Letting remaining offices in William House
• Driving rental growth towards an erv of £570,000 per annum
• Refurbishment of units upon lease events to improve the rental tone
• Build out previously secured planning consent for 2 new units totalling 4,300 sq ft on the east side of the estate.
Investment Summary
• Multi let industrial / trade counter estate in an established location to the west of Coventry City centre.
• Situated in West Park Trade Centre, approx. 3 miles from Coventry city centre and benefiting from excellent access to the A45, A46 and wider Midlands motorway network.
• The estate extends to 60,433 sq ft across 17 industrial units, 3 office buildings and a café and a retail unit.
• 97% let to 28 tenants.
• 75% of the income secured against industrial occupiers.
• Site coverage of approximately 45% across a site of circa 3 acres, offering strong underlying real estate fundamentals.
• Current income of £510,663 per annum.
West Park Trade Centre extends to 60,433 sq ft gia across 17 industrial units, 3 offices and a café. The estate comprises a mix of industrial and trade counter units, which have been developed over a number of years. The units are predominantly constructed of steel portal frame with profile metal cladding and brick elevations.
The three office buildings situated at the front of the estate are constructed of brick elevations under flat roofs.
The estate occupies a site of approximately 3 acres, providing low site coverage and future asset management potential.
Location
West Park Trade Centre is located within the established Industrial Area of Torrington Avenue to the west side of Coventry, approximately 3 miles west of Coventry city centre.
The estate is located on Torrington Avenue, providing excellent access to the A45, A46 and in turn the M6 and M42. Birmingham is located approximately 20 miles to the northwest, with London approximately 100 miles to the south. Coventry benefits from strong transport connectivity, with nearby mainline rail services from Coventry Station to Birmingham, Leamington Spa, London Euston and other major UK cities.
The surrounding area is characterised by a mix of industrial, trade counter and roadside occupiers. Notable nearby occupiers include Amco, als Laboratories and Kite Packaging.
Tenancies
The estate is let to 11 industrial tenants, a café, a retailer, 3 conventional office leases and 12 flexible office tenants across 60,433 sq ft in total.
The total passing rent is £510,663 per annum with a WAULT of approximately 2.9 years to expiry and 2.6 years to break.
42% of the income is secured by Screwfix, Toolstation, Clements Tool Hire. 80 % of the income designated “Very Low Risk” by Credit Safe. The landlord will provide a 12 months rent, rates and service charge guarantee on the vacant flexible office suites.
Asset Management
• Re-gearing leases and securing longer income
• Letting remaining offices in William House
• Driving rental growth towards an erv of £570,000 per annum
• Refurbishment of units upon lease events to improve the rental tone
• Build out previously secured planning consent for 2 new units totalling 4,300 sq ft on the east side of the estate.
Investment Summary
• Multi let industrial / trade counter estate in an established location to the west of Coventry City centre.
• Situated in West Park Trade Centre, approx. 3 miles from Coventry city centre and benefiting from excellent access to the A45, A46 and wider Midlands motorway network.
• The estate extends to 60,433 sq ft across 17 industrial units, 3 office buildings and a café and a retail unit.
• 97% let to 28 tenants.
• 75% of the income secured against industrial occupiers.
• Site coverage of approximately 45% across a site of circa 3 acres, offering strong underlying real estate fundamentals.
• Current income of £510,663 per annum.
More information
Listed by
Bromwich Hardy
View agent properties.png){kind=logo}
Property descriptions and related information displayed on this page are marketing materials provided by - Bromwich Hardy. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Bromwich Hardy for full details and further information.