Offers over
£750,000
(£92.99/sq. ft)
Industrial for saleUnits 13A-D, Princes Drive, Kenilworth CV8
8,065 sq. ft
Just added
Freehold
About this property
Passing rent £53,350 per annum exclusive
Niy 6.75%
Opportunities for rental growth
High-demand location
Tenancy schedule available on request
Description
The property comprises a brick-built block of four units. Units A, B & C are currently used as warehouses / workshops, while Unit D serves as an open plan office with mezzanine storage. Externally, there is ample parking and circulation space.
Each unit is occupied on a commercial lease, all of which are available on request. The total passing rent is £53,350 per annum exclusive, equating to a net initial yield of 6.75% at the quoting price of £750,000 (assuming purchaser's costs of 5.4%).
The EPC rating of each unit is as follows:
13A - B
13B - C
13C - C
13D - C
Copies are available on request.
Location
The property is situated on the Princes Drive Industrial Estate, located off the A429 Coventry Road heading north-east out of Kenilworth towards Coventry. Princes Drive provides a premier industrial/ warehouse estate in Kenilworth with a mix of local and regional occupiers. Coventry lies approximately two miles to the north-east via the Coventry Road which provides links to Kenilworth Town Centre and also to the A46 dual carriageway via, for example, Stoneleigh Road nearby.
Kenilworth has experienced a prolonged period of industrial demand outweighing supply, due to a lack of construction in the area.
Terms
The property is available freehold under Titles WK346467 & WK316662.
The property comprises a brick-built block of four units. Units A, B & C are currently used as warehouses / workshops, while Unit D serves as an open plan office with mezzanine storage. Externally, there is ample parking and circulation space.
Each unit is occupied on a commercial lease, all of which are available on request. The total passing rent is £53,350 per annum exclusive, equating to a net initial yield of 6.75% at the quoting price of £750,000 (assuming purchaser's costs of 5.4%).
The EPC rating of each unit is as follows:
13A - B
13B - C
13C - C
13D - C
Copies are available on request.
Location
The property is situated on the Princes Drive Industrial Estate, located off the A429 Coventry Road heading north-east out of Kenilworth towards Coventry. Princes Drive provides a premier industrial/ warehouse estate in Kenilworth with a mix of local and regional occupiers. Coventry lies approximately two miles to the north-east via the Coventry Road which provides links to Kenilworth Town Centre and also to the A46 dual carriageway via, for example, Stoneleigh Road nearby.
Kenilworth has experienced a prolonged period of industrial demand outweighing supply, due to a lack of construction in the area.
Terms
The property is available freehold under Titles WK346467 & WK316662.
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