20th Jan, 2022

Coventry's Central Six Retail Park sold in £16.4million deal

COVENTRY’S Central Six Retail Park now has new owners after AEW UK REIT bought the site in a £16.4million deal.

The site is next to Coventry Railway Station and the Friargate Regeneration area. The retail park provides 148,765sq ft of purpose-built retail space with parking for 635 cars.

Units are let to a number of household name retailers including TK Maxx, Next, Boots, Sports Direct, Burger King and Poundland.

Alex Short, AEW UK REIT’s portfolio manager, said the purchase would deliver an excellent initial yield and contribute to its shareholder returns.

“At present the retail warehouse sector is providing some interesting opportunities, often underpinned by alternative use value, and occupied by tenants that have shown resilience during the pandemic.”

He added the firm would be looking for further new sites it felt could deliver both strong income and capital performance.

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