Wigley sells Vantage Park in Coventry

Wigley sells Vantage Park in Coventry

The Wigley Group, advised by ESH, has sold its freehold interest in Vantage Trade Park in Coventry to Schroders’ Multi-Let Industrial Property Unit Trust (MLIPUT) for £5.07 million, reflecting a NIY of 5.4%.

The Park, which comprises a terrace of four units totalling 25,000 sq ft, was developed by The Wigley Group in 2015 and represents the best quality trade park in the city.  The property is let to Magnet, Formula One Autocentres and Adrenaline Motorcycles and produces a total rent of £291,262 per annum, reflecting a blended rent of £11.65 per sq ft. The investment offered a weighted average unexpired lease term of just over 13 years to expiry and over 8 years to break.