Wigley sells Royal Mail depot in Coventry

Wigley sells Royal Mail depot in Coventry

The Wigley Group, advised by ESH, has sold its freehold interest in the Royal Mail delivery office in Coventry to a Private Buyer for £3.5 million, reflecting a net initial yield of 5.23%.

The Property, which comprises a standalone unit of 17,500 sq ft GIA plus external car parking and delivery yard, was developed by The Wigley Group in 2009 and is let in its entirety to Royal Mail Group. The investment provides an annual rental income of £195,000 pa (£11.14 per sq ft) and an unexpired lease term of 11 years.