The property is held on a single long lease for a term of 125 years from the 29th September 1989 at a current ground rent of £18,801.50 per annum subject to a 10 yearly upward only rent review pattern, the next rent review being in September 2020. The rent is reviewed to 12.5% of the rack rental value of the whole of the estate or the aggregate of the parts.
The Estate is prominently located on Deedmore Road in the Potters
Green/Wood End area of Coventry, approximately 3 miles north-east
of the city centre and 1 ½ miles from Junction 2 of the M6/M69
interchange and 2.5 miles from Junction 3 of the M6. The Aldermans
Green Industrial Estate is located nearby and creates a critical mass
of industrial occupancy. The property comprises 7 industrial units predominantly of steel portal frame construction with park brick part profile clad elevations under profile clad roofs. The height to eaves heights range from 3.6m to 6m. All workshops and warehouse areas are single storey. There is a an electricity sub station on site together with a telecommunications mast. Access is from Deedmore Road over the estate road which is maintained through the service charge and loading is via roller shutter doors to the front of each unit. There are car spaces to the front and side of the units with an additional central car parking area.
Planning permission has been secured for for an additional 3,725 sq ft
adjoining unit 9.
We are instructed to seek Offers based on £975,000 subject
to contract. The purchase at this price would represent an
initial yield of 7.4% after 6% purchasers costs.
Strictly by appointment with the agent Bromwich Hardy.
Each party is to bear their own legal and surveyors costs incurred in this transaction.