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UNDER OFFER

Wheelwright Lane, Coventry, West Midlands, CV6

Offers in Region of
£2,600,000

£305.45 per sq ft

Business rates & charges may apply

WATLING REAL ESTATE LIMITED, Birmingham
SIZE AVAILABLE

8,512 sq ft

791 sq m

SECTOR

Healthcare facility for sale

USE CLASSUse class orders: D1 Non-Residential Institutions

D1

Key features

  • Freehold healthcare property occupied by NHS GP practice, dentist, and pharmacy
  • Fully let on coterminous leases expiring September 2041 at total passing rent of £208,230 p.a.x.
  • Secure long term income with outstanding rent reviews and asset management potential
  • Approx. 8,512 sq. ft. on a site area of 0.77 acre
  • Located within popular residential suburb of Holbrooks approx. 2 miles north of Coventry City Centre
  • Offers invited in the order of £2.6m reflecting a net initial yield of 7.53% (assumes purchaser's costs of 6.4%)

Description

The Property

The property is a fully let freehold healthcare facility comprising NHS GP practice, dentist and pharmacy across two detached adjacent buildings.

The GP practice and pharmacy operate within 71-73 Wheelwright Lane, and the dentist from 75-77 Wheelwright Lane.

There are independent car parks to the rear of both buildings accessed directly off Wheelwright Lane. The car parks are secured by way of steel palisade gates and fencing.

The buildings are both of part-one and two-storey brick construction, with part-rendered and timber-clad elevations surmounted by a series of pitched hipped tile roofs. The windows are aluminum framed double glazed throughout, and there are glazed main entrances to both buildings fronting Wheelwright Lane. There are electric security shutters to the exterior windows and doors of the GP practice and pharmacy.

Internally, the property provides consultation/treatment rooms, reception and waiting areas, pharmacy/retail sales areas, offices, kitchen and break-out areas, and WCs. There are lifts servicing both buildings.

Location & Situation

The property is located within the residential suburb of Holbrooks approx. 2 miles north of Coventry City Centre.

Occupying a prominent and highly visible location on Wheelwright Lane, a main arterial road connecting Coventry City Centre and Bedford to the north. Junction 3 of the M6 is less than 2 miles from the property.

The immediate area comprises principally residential property and is well-provisioned by good local schools and various retail and leisure amenities, all within walking distance. The Coventry Building Society Arena is less than a mile to the east.

There are bus stops within close proximity which provide regular services to and from Coventry City Centre and the wider region.

The tenants are established providers of health care services to the local community.

Brochures

Wheelwright Lane, Coventry, West Midlands, CV6

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Coventry Arena Station0.7 miles
  • Bedworth Station2.8 miles
  • Coventry Station3.3 miles

About WATLING REAL ESTATE LIMITED, Birmingham

Colmore Row, Birmingham, B3 2AP

Notes

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Disclaimer - Property reference 223070. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by WATLING REAL ESTATE LIMITED, Birmingham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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