Hortons’ Estate Ltd has added to its growing portfolio of properties with the acquisition of a retail warehouse unit in one of Coventry’s most established warehousing areas.
The independent property company has purchased a 48,813 sq ft building on a c.3.5-acre site at Coventry Business Park from Aberdeen Standard Investments, acting on behalf of South Yorkshire Pensions Authority.
The building is occupied by the UK’s biggest outdoor retail chain, Go Outdoors with an existing lease in place until 2031. It includes integral first floor office space, a trading mezzanine level and large dedicated service yard, with 177 car parking spaces to the front and sides of the property.
Coventry Business Park is situated in Canley to the west of Coventry city centre and benefits from excellent transport links. The site is just a few hundred metres from Canley railway station, with access to the West Midlands Rail and London Northwestern Rail lines and is in close proximity to the A45, and the national motorway network.
Jeremy Boothroyd of Birmingham-based Hortons’ said that Go Outdoors is currently undertaking a refurbishment of the property. He said: “This transaction complements our strategy of assembling a portfolio of well located, urban assets with considerable alternative use potential. Go Outdoors is an established business that has occupied the building for over 15 years. Its refurbishment of the property demonstrates a commitment to the location and is a positive indication that the retail market is recovering after the pandemic. We look forward to developing a positive relationship with Go Outdoors in the years to come.”
Hortons’ was advised by Eversheds Sutherland and Maclaren & Partners; the vendor was represented by Addleshaw Goddard LLP and ESH LLP.