A 10,278 sq ft industrial site on the Common Lane Industrial Estate in Kenilworth, Warwickshire, has been put up for sale.
The Alvis Works site comprises a collection of eight small industrial units and one office building and is home to Alvis Car Company, one of Britain’s most famous sports car manufacturers.
The site currently generates annual rent of nearly £41,000 and is available to purchase for £875,000.
Mark Booth, senior surveyor at Bromwich Hardy, which has been appointed to market the opportunity, said: “Common Lane Industrial Estate is a long-established business location that has been the home of the Alvis Car Company for many years. There is a shortage of industrial units in Kenilworth, particularly at the smaller end of the market, and this could result in a major development opportunity here, with the potential for large rental growth.
“The existing units at this property on the Alvis Works site are currently fully let, bringing in an annual rent roll of £40,950, with many tenants having occupied the estate for a number of years. The office building is located at the front of the estate, parallel to the estate road, with the eight industrial units behind. The site benefits from a large car park in the centre of the estate, which provides ample parking for the occupiers, and the estate is surrounded by pleasant residential areas.”
