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Units 13A-D Princes Drive, Kenilworth, Warwickshire, CV8 2FD

For Sale

  • Industrial / Warehouse, Investment
  • 8,065 Sq Ft
  • £750,000

Fully let industrial & office investment

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Key Features

  • Passing rent £53,350 per annum exclusive
  • NIY 6.75%
  • Opportunities for rental growth
  • High-demand location
  • Tenancy schedule available on request

Property 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.
Terms
The property is available freehold under Titles WK346467 & WK316662.

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.

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