Go Outdoors, Canley Road, Coventry, CV5 6RN
Franck-Steier Price and Thompson Heaney have recently completed the sale of a Go Outdoors retail warehouse investment in Coventry.
The property is located on Coventry Business Park and comprises a retail warehouse unit of 49,572 sq.ft with Open A1 consent.
The property was let on completion of the sale to Go Outdoors Ltd for a term of 20 years at a rent of £430,000 per annum. The lease is held on full repairing and insuring terms and is subject to five yearly upward only rent reviews to 2.5% per annum compound.
The property sold for £5,325,000 which reflects a net initial yield of 7.63%, after purchaser’s costs of 5.80%. Tudor Toone represented the purchaser, Standard Life Investments.