Invista - Coventry, Westwood Business Park

Date: 05 Mar 2010

Invista has acquired three buildings in Coventry for £20.2 million, for a net initial yield of 7.52%.

Invista has acquired three buildings, comprising 126,563 sq ft on Westwood Business Park in Coventry, from Trillium Property Ltd for £20.2 million, reflecting a net initial yield of 7.52%. Located five miles south west of Coventry City centre, the properties are let to Barclays on leases expiring in December 2024 ranging from £10.50 psf to £13.68 psf, with a penalty of 5.5 years of rent if the tenant exercises its December 2014 break option.

Robert O'Hara, Head of HBOS Funds at Invista, comments: "These transactions demonstrate Invista's ability to secure attractive acquisitions, within a fairly tight market, where there is either a strong income stream already in place or where future opportunities have been identified with existing tenants to undertake asset management initiatives to add real value for our clients."

Westwood Business Park in Coventry

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