- Rare opportunity to acquire a prestigious United Kingdom Head Quarters office building together with modern Technical Centre let to a world famous car brand.
- Located in Coventry, the heart of the Midlands Automotive Industry on the site of a major commercial and residential redevelopment success.
- Built in 2006 Pinley House and the associated Technical Centre provides a highly specified modern grade A office building together with state of the art showroom and vehicle workshop academy.
- Pinley House extends to 106,746 sq. ft. together with 576 car parking spaces on a site of 7.5acres giving an excellent car-parking ratio of 1 car space to 195 sq. ft.
- The Technical Centre extends to 59,095 sq. ft. with a 90m average yard depth including 404 car spaces on a site of 6.5acres providing a very low developed density of 20.9%.
- Freehold
- Let in it’s entirety to Peugeot Motor Company Plc the wholly owned UK subsidiary of Peugeot Citroen PSA, Europe’s second largest vehicle manufacturer who in 2012 sold 2.9million vehicles worldwide.
- 18 years term certain FRI lease with 5 yearly upward only rent reviews to the RPI index capped at 5% and collared at 2%.
- Initial total rent of £2,008,474 per annum equating to £16.25 per sq ft on the offices and £6.22 per sq ft on the Technical Centre.
- Offers in excess of £27,000,000 (TWENTY SEVEN MILLION POUNDS) reflecting a net initial yield of 7.03% assuming purchasers costs of 5.8% with a minimum guaranteed reversion of 7.76% and a maximum reversion of 8.97% in year 5
For further information please contact;
Mark Johnson MK2 Real Estate
Tel : 0121 2141977 Email : mjohnson@mk2dev2.local
Or our joint agent Damian Lloyd at GVA
Tel : 0121 6098223 Email : damian.lloyd@gva.co.uk
