Rivet, Waterman Road, Coventry , CV6 5TP

- Prime distribution location, in the heart of the Midlands region.- High quality, modern distribution warehouse extending to 20,680 sq m (222,598 sq ft) constructed to a full institutional specification.- Site area of 4.95ha (12.23 acres) providing a low site coverage of 40%.- The entire property has been let by way of an agreement for lease to Lear Corporation (UK) Limited for a term of 15 years from 1 April 2013.- Total initial rent of 1,244,300 per annum reflecting a rent of 5.50 per sq ft.- 5 yearly upwards only rent reviews, with the first review being to the higher of open market value or 1,279,950 per annum (5.75 per sq ft).- Freehold.- B1, B2 and B8 planning consent.- We are instructed to seek offers in excess of 14.46 million subject to contract and exclusive of VAT.- A purchase at this level would reflect an attractive net initial yield of 8% increasing to 8.36% in year 5, after allowing for purchasers costs of 5.80%.

Location