Vehicle distribution facility acquired for £17.9m

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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

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