Threadneedle Property Funds have purchased the long leasehold investment of the Matalan, Wheler Road, Coventry, CV3 4LJ for £5.9 million from Shay Property Investments. The retail warehouse extends to 36,323 sq ft, with 203 car parking spaces, and is let to Matalan until December 2021 at a rent equating to £15.00 per sq ft. The purchase price gave a net initial yield of 8.75%.
The purchaser was represented by Wilkinson Williams.
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