SOLD - West Midlands Ambulance Service

Ibstock Road, Coventry

SOLD - West Midlands Ambulance Service
Ibstock Road, Coventry
  • Modern warehouse / hub facility let to a very strong tenant with 16 years unexpired with good rental growth prospects.
  • Prominently positioned on Ibstock Road in Coventry within ½ mile of Junction 3 of the M6 Motorway.
  • Freehold, single bay steel portal frame unit, constructed in 2013 and fitted out as an ambulance station service hub on a secure site with 95 vehicle parking spaces.
  • Gross Internal Area of 19,104 sq ft on a site of 1.6 acres providing a low developed density of 27%.
  • Let to West Midlands Ambulance Service NHS Foundation Trust on a 20 years lease from 24th May 2013 at a rent of £126,966 pa.
  • Operating as a key ambulance hub for the Coventry area, the West Midlands Ambulance Service NHS Foundation Trust for the year ending 2016 had an income of £227.8 million and net assets of £52.7million.
  • We are instructed to seek offers in excess of £2,100,000 (Two Million One Hundred Thousand Pounds) subject to contract, which reflects a net initial yield of 5.69% after allowing for purchasers’ costs of 6.30%.
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