Centrovell Trading Estate, Caldwell Road, Nuneaton, CV11 4NG
Franck Steier Price has recently completed the sale of a multi let industrial estate on behalf of CBRE Global Investors.
The estate was located on the edge of Nuneaton town centre between Bermuda Park and Attleborough Fields. The fully let estate comprised six units totalling 53,562 sqft.
The estate was let to three tenants and had a WAULT of 4.75 years to expiries. The overall rent was £220,567 per annum (average rent £4.11 per sqft).
The investment sold for £2,755,000 which reflected a net initial yield of 7.57 % after purchaser’s costs of 5.80%.
The property was purchased by a private local property company who were represented by GVA.