Enterprise-rent-a-car, Lockhurst Lane, Coventry CV6 5NY
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- High Yielding Retail Investment
- A freehold property
- Approx. 19,111 sq ft (0.438 acres)
- Prominent corner position on busy arterial road
- Comprising office buildings and yard for parking vehicles
- Let to Enterprise on a 20 year FRI lease from 2024
- Rent reviews every 5 years
- The tenant is committing over £400,000 of works to redevelop the site
- Further development potential (subject to requisite consents)
- Investment let at £70,000 per annum
Description
StrapLine
Auction Sale - 28/05/2025High Yielding Retail Investment.
A freehold property of approx. 19,111 sq ft (0.438 acres) comprising office buildings and yard for parking vehicles.
Let to Enterprise on a 20 year FRI lease from 2024, with 5 yearly rent reviews.
Investment let at £70,000 per annum.
Location
The property is situated on the northern fringe of Coventry and occupies a prominent main road position fronting directly onto the busy B4118 Lockhurst Lane at its junction with Kingfield Road in a busy, built up and densely populated commercial area alongside a large trading estate and surrounded by residential development.
Lockhurst Lane is a busy arterial route into the City Centre with the A444 Phoenix Way North - South Road easily accessible along with the M6 Motorway at Junction 3, which is approximately 2½ miles to the north.
Nearby occupiers include HiQ Autocentre, BP/Morrison, HSS Hire Shops. The Coventry City Centre itself is approximately 1½ miles distant.
Transport
Coventry Station - Avanti West Coast, CrossCountry, West Midlands Railway.
Tenancy
The property is let to Enterprise for £70,000 per annum on a fully repairing and insuring lease for a term of 20 years commencing November 2024, with rent reviews every 5 years.
Planning
On 31/07/2024 Coventry City council granted planning for replacement rental vehicle wash bay, demolition of existing modular office building and site reconfiguration and associated works.
Click here for planning portal
Enterprise-rent-a-car, Lockhurst Lane, Coventry CV6 5NY
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Coventry Arena Station1.3 miles
- Coventry Station2.0 miles
- Canley Station2.8 miles
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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