Unit 3 & 4, Progress Way, Binley Industrial Estate, Coventry, CV3 2NT
74,118 Sq Ft / Other / Investment
For Sale
- £7,660,000.00
Available - Last updated: 04 July 2025
Summary
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.
Key Points
Located on the established Binley Business Park in the heart of Coventry and within the UK’s premier logistics “Golden Triangle”Excellent transport links to M6, M45, M42 and M1 motorways.Extending to approximately 74,118 sqft of warehouse, office and ancillary accommodation across both buildings. Warehouse eaves varying between 9.6m and 10.5m.FreeholdBoth leases let on effective FRI terms to HydroGarden Limited who have an Experian Credit Score of 100 reflecting very low risk.Cumulative initial rent of £572,000 per annum which equates to £7.72 psf.Both units are to be let on coterminous 10-year lease with a 5-year tenant only break option. These leases shall commence upon the completion of the sale and shall be subject to schedule of condition.Offers in excess of £7,660,000 (Seven Million, Six Hundred and Sixty Thousand Pounds) subject to contract and exclusive of VAT. Reflecting a net initial yield of 7.00% and a capital value of 103 per sqft assuming purchaser’s costs of 6.66%.Sale and leasebackLocation
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.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£7,660,000.00
| NA |
Email me updates about similar new properties
Show similar properties