Henley Road Industrial Estate
A 125,000 sq ft Coventry industrial estate, expanded with two new units in 2017 and partly sold in 2021, with Wigley retaining 10 units for future growth.
The 125,000 sq ft multi-use Henley Road Industrial Estate was purchased by Wigley Investment Holdings in the late 1990s, it was one of the company’s first property investments.
The estate is located approximately 3.5 miles northeast of Coventry city centre and 1.5 miles southwest of junction 2 of the M6/M69 Interchange, providing excellent connectivity.
An opportunity arose to expand capacity and address the distinct shortage of commercial property in Coventry with two new industrial units to the rear of the estate.
Work commenced in 2016 with ground stabilisation using stone columns to address the difficult sloping ground conditions given the site’s proximity to former mineshafts in the area.
This enabled the part-extension of an existing unit and a new building – both with steel frames, steel cladding and reinforced concrete floors – creating a combined 17,000 sq ft of additional space on the estate.
The two new units, which were 7,252 sq ft and 8,700 sq ft respectively, were completed in 2017 after 10 months of work and £1.25 million in investments. They were let to tenants, including national retailer Screwfix.
Both new units were among four on the estate, which was sold to Chancerygate, the UK’s largest multi-unit industrial property developer and asset manager, for £2.56m in 2021, in a deal that reflects a net yield of 6.12%.
Wigley retains 10 units on the estate within its portfolio with a view for future growth.