Colmore Capital, a property investment firm based in the Midlands, has successfully sold its 20,560 sq ft car showroom located in Coventry to the nationwide automotive operator, Listers Group.

The sale, completed last November, followed direct negotiations between Colmore Capital and Listers Group, facilitated by the relocation of the showroom’s previous tenant. The property, situated on Birmingham Road, a key automotive corridor in the region, was one of the initial assets acquired by Colmore Capital, recognising the strategic value of its location and tenant appeal.

During ownership, Colmore Capital negotiated an uplifted rent and lease extension with the previous occupier, securing vacant possession at the lease’s end to enable the sale. David Corridan, Managing Director at Colmore Capital, stated, “Key to the attractiveness of this asset at acquisition was its prime roadside pitch, which holds strong appeal to occupiers across multiple sectors, and the associated optionality of asset management strategies that could be pursued pending the existing tenant’s long-term plans. This significantly reduced the risk profile of acquiring a single-let, short-income asset and allowed us to target our exit strategy to maximise returns for our investors.”

Matthew Grainger, Investment Director at Colmore Capital, commented, “We are delighted with the completion of this sale to Listers Group, which required careful management to ensure the smooth exit of the previous occupier prior to the sale. The property has been a great purchase for us and, with the completion of our business plan for the asset, we wish Listers Group every success in trading from its new site.”

This transaction will undoubtedly be mentioned at property networking events and upcoming property networking events in the Midlands, highlighting the successful strategies implemented by Colmore Capital. Such deals are often a focal point at business investment events in the West Midlands, offering insights into effective asset management and exit strategies in the property investment sector.

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