Rivet, Waterman Road, Coventry , CV6 5TP
£14,460,000.00, Sold
Ref No. JLLATC31614

Location Rivet, Waterman Road, Coventry , CV6 5TP, Warwickshire, West Midlands

- Prime distribution location, in the heart of the Midlands region.
- High quality, modern distribution warehouse extending to 20,680 sq m (222,598 sq ft) constructed to a full institutional specification.
- Site area of 4.95ha (12.23 acres) providing a low site coverage of 40%.
- The entire property has been let by way of an agreement for lease to Lear Corporation (UK) Limited for a term of 15 years from 1 April 2013.
- Total initial rent of £1,244,300 per annum reflecting a rent of £5.50 per sq ft.
- 5 yearly upwards only rent reviews, with the first review being to the higher of open market value or £1,279,950 per annum (£5.75 per sq ft).
- Freehold.
- B1, B2 and B8 planning consent.
- We are instructed to seek offers in excess of £14.46 million subject to contract and exclusive of VAT.
- A purchase at this level would reflect an attractive net initial yield of 8% increasing to 8.36% in year 5, after allowing for purchaser’s costs of 5.80%.

Property Type Industrial/logistics

Initial Yield 8.00%

Property Contacts:

  • Allan Wilson
    +44 (0)121 214 9941
  • Ben Kelly +44 (0)121 270 7143
  • Joel Duncan +44 (0) 20 3805 6923
Property Location:


JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-
a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
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