AEW hands Coventry retail park £28m price tag

15th May 2024 | Jack Oliver

AEW REIT has placed a retail park in Coventry on the market with an asking price of £28,150,000.

Central Six Retail Park is located approximately 0.7 miles southwest of Coventry City Centre and comprises 128,000 sq ft of retail space across 10 units.

The purpose-built retail asset – which was constructed in 1997 – is fully let to retailers including Aldi, Food Warehouse, Boots, TK Maxx, Next, Poundland, Hobbycraft, Mydentist, Tui, and Barnardo’s. Units at the scheme range in size from 7,500 sq ft to 22,100 sq ft.

Central Six Retail Park spans a total area of approximately 8.78 acres and is less than a five minute walk from Coventry Train Station. It is also supplemented by approximately 580 car parking spaces.

The freehold asset produces an average rent of approximately £17.84 per sq ft and has a weighted average unexpired lease term of 7.8 years.

The scheme has further asset management potential including the creation of new units and a drive-to pod, as well as building on recent letting activity.

Harvey Spack Field – which has been appointed to market the asset – said the £28.15m asking price represents a net initial yield of approximately 7.5%.


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