UK and European investment management firm Oxenwood Real Estate has acquired a vehicle distribution facility in Coventry for £17.9m.
The facility comprises three buildings totalling 39,691 sq ft on a 10-acre site at the junction of Foleshill Road and Old Church Road, north of the city centre. It is let to Lex Autolease, part of Lloyds Banking Group, for a further 13 years.
It has been acquired from clients of LaSalle Investment Management by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings (Bermuda) Ltd.
The acquisition reflects a net initial yield of 5.15 per cent.
Stewart Little, co-founder and chief executive of Oxenwood, said: "The purchase of the facility in Coventry represents a rare opportunity to acquire a
link source - Insider Media - Property