Charterhouse Property Group has acquired the freehold of a former 72,000 sq ft Sainsbury’s superstore on Austin Drive, Coventry, for an undisclosed price.
The 3-acre site has been vacant since Sainsbury’s closed the superstore in January 2023.
Charterhouse intends to add the asset to its self-storage pipeline and once planning consent is granted for the proposed new use the company intends to select an operator for the site. There is also the potential to create an EV charging hub adjacent to the site.
Tom Hesp, director at Charterhouse Property Group, said: “Repurposing buildings and delivering new turn-key self-storage facilities is one of our key investment themes at present for Charterhouse Property Group. Occupational demand has remained resilient and the sector is increasingly attractive to institutional capital, where there are significant allocations to deploy capital in the market driving strong demand on exits.”
