Tandem Investments has acquired a 45,118 sq ft industrial unit in Coventry from Ocado for £2.75m.
The unit, which sits on a 2.5-acre site on Crondal Road, is let to Macfarlane Group UK on a lease expiring in August 2028. The passing rent is £248,000 per annum – equivalent to £5.50/sq ft.
Chris Lloyd, director at Tandem Investments, said: “Acquiring assets in prime locations has been the focus at Tandem this year. Crondal Road’s location particularly appealed being so close to junction three of the M6. Coventry is at the heart of the Golden Triangle which is so popular with distribution and logistics occupiers.”
Richard Lingen, associate director, Birmingham investment at Savills, which advised Tandem on the deal, added: “Unit 5 is an excellent industrial investment with solid fundamentals and opportunities to drive future value. The property aligns well with our client’s investment ambitions, and we look forward to working with Tandem Investments going forward.”
Ocado was represented by Gerald Eve.
