Warwickshire commercial property agency Bromwich Hardy has advised on a £3.3 million sale and leaseback deal of a prime Coventry industrial unit.
Bromwich Hardy, jointly with MK2 Real Estate, advised on the sale of the 35,000 sq ft Unit 4, Progress Close, on the Binley Industrial Estate, some three miles east of Coventry city centre.
Ed Bunbury, partner at Bromwich Hardy, said: “The property was sold to property investment company AMK2 Real Estate in a sale and leaseback deal. It is let to occupier HydroGarden on a new ten year lease at £272,000 per annum.
“We were pleased to act for Coventry-based Progress Property in the sale which was their first venture into the Warwickshire industrial market.”
HydroGarden is the UK’s leading manufacturer and distributor of hydroponic equipment and services, supplying specialist equipment to the trade since February 1996. The business now not only distributes world leading brands but also manufactures its own range of products.
Binley Industrial Estate is home to several high-profile occupiers including Vetrotech Saint Gobain, Dulux, Howdens and Screwfix.
