Bericote and JP Morgan sell Coventry Logistics Park for £140.415m - Bericote Properties

Bericote and JP Morgan sell Coventry Logistics Park for £140.415m


DTZ Investors has completed a deal with Bericote and JP Morgan Global Alternatives for the acquisition of a multi-let logistics scheme in Coventry for £140.4m.


Coventry Logistics Park comprises three newly constructed logistics units, with a gross internal area of 784,989 sq ft on a land extending to 43 acres.


The property is fully let to DHL, Geodis and Viad, with a WAULT of 11.81 years. The asset generates a rent of £6.5m a year, with all three leases having rent review mechanisms capturing the higher of open market value or CPI index linked increases.


All three units have EPC A and BREEAM Outstanding ratings. Other key sustainability credentials include photovoltaic panels situated on all three roofs, air source heat pumps used as the primary source of heating for the warehouse areas and a high provision of electric vehicle charging points.


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