Industrial for sale - Enterprise Rent-a-car, Lockhurst Lane, Coventry

On 31/07/2024 Coventry City council granted planning for replacement rental vehicle wash bay, demolition of existing modular office building and site reconfiguration and associated works. Planning Ref: PL/2024/0001087/FUL We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC). According to the tenant Enterprise Rent a Car UK have spent over £400,000 to date improving and updating the site to provide a flagship store for their busy regional operations. There are some ongoing works including taking down of the existing modular office and finishing off the new wash bay unit, then retarmacking the area. Please note the small portacabin has since bene removed. Please refer to the planning section above for more information. The property is let to Enterprise for £70,000 per annum on a fully repairing and insuring lease for a term of 20 years commencing November 2024, with rent reviews every 5 years. Please note the lease is outside the Landlord and Tenant Act 1954.