Coventry distribution warehouse acquired in £4.35m deal

A COVENTRY distribution warehouse has changed hands in a £4.35m deal brokered out of Birmingham.

Blue Marble Asset Management acquired 7030 Middlemarch Business Park in an off-market deal on behalf of a private client.

The 65,815 sq ft unit is let to Canute UK, which recently agreed a new 10-year lease in May 2016.  The deal represents a net initial yield of 7.95%.

The business park’s occupiers include Royal Mail, Wincanton, Unipart, Gefco, Buck & Hickman and Walkers Snacks.

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