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West Park Trade Centre 4 Properties Offered at $10,700,475 CAD in Coventry
Investment Highlights
- Multi let industrial / trade counter estate in an established location to the west of Coventry City centre
- The estate extends to 60,433 sq ft across 17 industrial units, 3 office buildings and a café and a retail unit
- 75% of the income secured against industrial occupiers
- West Park Trade Centre, approx. 3 miles from Coventry and benefiting from excellent access to the A45, A46 & wider Midlands motorway network
- 97% let to 28 tenants
- Site coverage of approximately 45% across a site of circa 3 acres, offering strong underlying real estate fundamentals
Executive Summary
The property presents a number of clear asset management initiatives offering an opportunity to enhance both income and capital value. These include re-gearing existing leases to secure longer-term income and letting the remaining office accommodation within William House. There is further potential to drive rental levels towards an estimated ERV of £570,000 per annum, supported by refurbishment of units upon lease events to strengthen the overall rental tone across the estate. In addition, the site benefits from a previously secured planning consent for the development of two new units on the east side of the estate, totalling approximately 4,300 sq ft, providing scope for future income growth and value creation.
We are instructed to seek offers in excess of £5,750,000 (five million seven hundred and fifty thousand pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 8.33%, a reversionary yield of 9.25%, and an attractive capital value of £95 per sq ft.
We are instructed to seek offers in excess of £5,750,000 (five million seven hundred and fifty thousand pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 8.33%, a reversionary yield of 9.25%, and an attractive capital value of £95 per sq ft.
Property Facts
| Price | $10,700,475 CAD | Status | Active |
| Price / SF | $167.04 CAD / SF | Number of Properties | 4 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 8.33% | Total Building Size | 64,059 SF |
| Sale Type | Investment | Total Land Area | 5.93 AC |
| Price | $10,700,475 CAD |
| Price / SF | $167.04 CAD / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 8.33% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 64,059 SF |
| Total Land Area | 5.93 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 207-209 Torrington Ave, Coventry CV4 9AP | Industrial | 35,284 SF | 1955 | - |
| 211 Torrington Ave, Coventry CV4 9AP | Industrial | 19,093 SF | 1962 | - |
| 209 Torrington Av, Coventry CV4 9AP | Industrial | 7,341 SF | 1960 | - |
|
West Park House
207 Torrington Av, Coventry CV4 9AP |
Office | 2,341 SF | 1980 | - |
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West Park Trade Centre
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