Property photos
Guide price
£950,000
(£61.98/sq. ft)
Industrial for sale
Herald Way, Coventry CV315,328 sq. ft
Local area information
Property location
Nearby amenities
- St Bartholomew's Church of England Academy 0.4 miles
- Sowe Valley Primary School 0.6 miles
- Coventry 3 miles
- Canley 4.5 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
- New 5 year lease
- Income increases to £69,000 pax in 2028
Location
Coventry is located within the West Midlands, approximately 20 miles east of Birmingham, 24 miles south west of Leicester and 95 miles northwest of London. The City forms part of the “Golden Triangle” for logistics in the UK, with excellent road communications, providing direct access to the M6 and the M69 motorways and access to the M40 and M42 motorways via the A46 and A45, Birmingham to Coventry trunk roads, respectively.
Coventry train station provides regular intercity links to London, Birmingham and Manchester, with the fastest journey time by train to London Euston approximately 65 minutes. Birmingham International Airport is 20 minutes drive to the west of Coventry, providing access to domestic and international destinations.
Situation
The property is prominently positioned on the corner of Herald Way and Golden Acres Lane in the highly regarded Binley Business Park. Extremely well located, three miles east of Coventry City centre and close to the A46 linking directly to the M69, M6, M1 (north) and the A45, M40 and M1 South. There are a wide range of facilities in the immediate vicinity, including a Morrisons Supermarket, tgi Fridays, Costa Coffee Drive Thru, Premier Inn, McDonalds and B&Q. Nearby occupiers include Saint Gobain, S F M, Caldwell, Auric, gap Plant and Tool Hire and Hermes.
Occupational Market
Coventry is one of the most important industrial and warehouse markets in the UK and sits in the heart of the “Golden Triangle” at the centre of the UK’s motorway network.
Description
The property comprises part of a purpose built detached four bay warehouse. The warehouse is of steel portal frame construction with brick, block work and profile cladding elevations.
The unit is self-contained with two storey offices and benefits from its own mains services. There is one roller shutter, with space for another (depending on configuration), a yard and ample car parking at the front for a unit of this size. The eaves rise to 4.75m and there is an apex of 6.1m.
Accommodation
According to the Valuation Office Agency the building has the following gross internal floor areas. We await confirmation of these from our measured survey:-
Ground Floor: 9,734 sq ft
Mezzanine: 4,782 sq ft
First: 812 sq ft
Total: 15,328 sq ft (1,424 sq m) approx gia
Tenancy
The property is let to One Vision Imaging Limited on a new Fri lease for a term of 5 years from 20/02/2025 at a rent of £66,000 pax until 2027, at which point it will increase to £69,000 pax until the end of the term.
Covenant
One Vision Imaging Limited is one of the largest professional photographic laboratories in the UK. For over 50 years they have been servicing professional and enthusiast photographers with the very highest standards of processing and finishing.
Tenure
Freehold.
Price
Offers in the region of £950,000 (nine hundred and fifty thousand pounds), which reflects a Net Initial Yield of 6.57% and a reversionary yield of 6.87%.
VAT
VAT is applicable.
Togc
The sale can occur as a transfer of a going concern.
Legal costs
Each party to cover their own legal costs.
Aml
Any prospective purchaser must be able to provide proof of funds, along with source of funding and proof of identification.
Coventry is located within the West Midlands, approximately 20 miles east of Birmingham, 24 miles south west of Leicester and 95 miles northwest of London. The City forms part of the “Golden Triangle” for logistics in the UK, with excellent road communications, providing direct access to the M6 and the M69 motorways and access to the M40 and M42 motorways via the A46 and A45, Birmingham to Coventry trunk roads, respectively.
Coventry train station provides regular intercity links to London, Birmingham and Manchester, with the fastest journey time by train to London Euston approximately 65 minutes. Birmingham International Airport is 20 minutes drive to the west of Coventry, providing access to domestic and international destinations.
Situation
The property is prominently positioned on the corner of Herald Way and Golden Acres Lane in the highly regarded Binley Business Park. Extremely well located, three miles east of Coventry City centre and close to the A46 linking directly to the M69, M6, M1 (north) and the A45, M40 and M1 South. There are a wide range of facilities in the immediate vicinity, including a Morrisons Supermarket, tgi Fridays, Costa Coffee Drive Thru, Premier Inn, McDonalds and B&Q. Nearby occupiers include Saint Gobain, S F M, Caldwell, Auric, gap Plant and Tool Hire and Hermes.
Occupational Market
Coventry is one of the most important industrial and warehouse markets in the UK and sits in the heart of the “Golden Triangle” at the centre of the UK’s motorway network.
Description
The property comprises part of a purpose built detached four bay warehouse. The warehouse is of steel portal frame construction with brick, block work and profile cladding elevations.
The unit is self-contained with two storey offices and benefits from its own mains services. There is one roller shutter, with space for another (depending on configuration), a yard and ample car parking at the front for a unit of this size. The eaves rise to 4.75m and there is an apex of 6.1m.
Accommodation
According to the Valuation Office Agency the building has the following gross internal floor areas. We await confirmation of these from our measured survey:-
Ground Floor: 9,734 sq ft
Mezzanine: 4,782 sq ft
First: 812 sq ft
Total: 15,328 sq ft (1,424 sq m) approx gia
Tenancy
The property is let to One Vision Imaging Limited on a new Fri lease for a term of 5 years from 20/02/2025 at a rent of £66,000 pax until 2027, at which point it will increase to £69,000 pax until the end of the term.
Covenant
One Vision Imaging Limited is one of the largest professional photographic laboratories in the UK. For over 50 years they have been servicing professional and enthusiast photographers with the very highest standards of processing and finishing.
Tenure
Freehold.
Price
Offers in the region of £950,000 (nine hundred and fifty thousand pounds), which reflects a Net Initial Yield of 6.57% and a reversionary yield of 6.87%.
VAT
VAT is applicable.
Togc
The sale can occur as a transfer of a going concern.
Legal costs
Each party to cover their own legal costs.
Aml
Any prospective purchaser must be able to provide proof of funds, along with source of funding and proof of identification.
More information
Listed by
Assembly Commercial Real Estate
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