Charterhouse Property Group is pleased to announce the acquisition of a former Sainsbury’s Superstore on Austin Drive, Coventry
Charterhouse Property Group acquired the property which has been vacant since Sainsbury’s closed the premises in January 2023. The freehold site comprises a former superstore extending to c.72,000 sq ft GIA build on c. 3 acres.
The asset adds to the self-storage store pipeline Charterhouse is promoting through the planning process and delivering. Once planning is granted for the proposed use, Charterhouse intendeds to select an operator for the site. In addition, there is potential for an EV charging hub adjacent.
Commenting on the deal Tom Hesp, Director, said:
“Repurposing buildings and delivering new turn-key self-storage facilities is one of the key investment themes at present for Charterhouse Property Group. Occupational demand has remained resilient, and the sector is increasingly attractive to institutional capital where there are significant allocations to deploy capital in the market driving strong demand on exits..”
Charterhouse is seeking similar investment opportunities. So, if you have a proposition you would like to discuss please get in touch at mail@charterh.co.uk
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