A private investor has acquired a 3.08-acre industrial site at 40 Bayton Road in Coventry for £2.15m.
The freehold site provides 15,815 sq ft across three warehouses and offices, and the sale price reflects a net initial yield of 5.25%.
The property is let to Arena Event Services Group on a 10-year lease at a rent of £120,000 per annum.
Ed Bunbury, partner at Bromwich Hardy, which alongside T5REA acted for a private client on the sale, said: “40 Bayton Road is a well located, secure industrial site within the well-established Bayton Road Industrial Estate, north of Coventry city centre. The location means that the area is highly suitable for logistics, manufacturing and trade occupiers.”
He added: “The sale of 40 Bayton Road demonstrates once again the strength of the industrial sector in Coventry, with the city consistently outperforming its regional peers.”
