Approximately 4,383 sq m (47,196 sq ft) of well-configured retail accommodation
Nearby occupiers include Primark, Boots, Sports Direct, H&M, Marks & Spencer and Tesco Express
Lot 25
Auction 16th July 2026
Rent Gross: £90,000 per Annum Exclusive Net: £49,791 plus Turnover Rent (3)
Status Available
Guide* £150,000 - £200,000
Sector Retail, High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
19 miles east of Birmingham, 24 miles south-west of Leicester, 95 miles north-west of London
Roads
M6 (Junctions 2 & 3), M42, M69
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation
The property occupies a prominent position within Lower Precinct Shopping Centre, which comprises over 25% of Coventry city centre's retail provision (https://visitcoventry.co.uk/listing/lower-precinct-shopping-centre/166864101/). Nearby occupiers include Primark, Boots, Sports Direct, H&M, Marks & Spencer and Tesco Express, together with Coventry Cathedral. Access can be gained directly onto Queen Victoria Road from The Lower Precinct. The property benefits from convenient access to the principal city centre car parks, including the adjoining Lower Precinct Shopping Centre car park and West Orchards Multi-Storey Car Park, which provides 563 spaces.
Tenure
Leasehold. Held for a term of 99 years (less 3 days) from 31st October 2000, expiring 27th October 2099. The current rent under the head lease is £40,209 pax. The rent is reviewed upwards only on a 5 yearly basis to 10% of open market rental value. The next rent review is due on 24th June 2026.
Location
Miles
19 miles east of Birmingham, 24 miles south-west of Leicester, 95 miles north-west of London
Roads
M6 (Junctions 2 & 3), M42, M69
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation
The property occupies a prominent position within Lower Precinct Shopping Centre, which comprises over 25% of Coventry city centre's retail provision (https://visitcoventry.co.uk/listing/lower-precinct-shopping-centre/166864101/). Nearby occupiers include Primark, Boots, Sports Direct, H&M, Marks & Spencer and Tesco Express, together with Coventry Cathedral. Access can be gained directly onto Queen Victoria Road from The Lower Precinct. The property benefits from convenient access to the principal city centre car parks, including the adjoining Lower Precinct Shopping Centre car park and West Orchards Multi-Storey Car Park, which provides 563 spaces.
Tenure
Leasehold. Held for a term of 99 years (less 3 days) from 31st October 2000, expiring 27th October 2099. The current rent under the head lease is £40,209 pax. The rent is reviewed upwards only on a 5 yearly basis to 10% of open market rental value. The next rent review is due on 24th June 2026.
Description
The property comprises sales accommodation on ground and first floors with ancillary and storage accommodation on the second floor. The third floor is used for plant and the basement is used for storage and loading.
VAT
VAT is applicable to this lot.
EPC
Band C.
Description
The property comprises sales accommodation on ground and first floors with ancillary and storage accommodation on the second floor. The third floor is used for plant and the basement is used for storage and loading.
VAT
VAT is applicable to this lot.
EPC
Band C.
Tenancy & Accommodation
Floor
Use
Floor Areas sq m
Floor Areas sq ft
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Basement/Ground/First/Second/Third
Retail/Ancillary
4,251.60
(45,764)
NEW LOOK RETAILERS LIMITED (t/a New Look)(CRN: 01618428)(2)
5 years from 13/08/2025(4)
£90,000(3)
12/08/2030
Total Approximate Commercial Floor Area
4,251.60(1)
(45,764)
£90,000
(1) The floor areas stated above are those published by the Valuation Office Agency/HMRC (www.voa.gov.uk). (2) NEW LOOK RETAILERS LTD is one of the UK's leading fashion retailers, offering womenswear, menswear, footwear and accessories through its nationwide store network and online platform. Founded in 1969, the business trades from approximately 337 stores across the UK. For the year ended 29 March 2025, NEW LOOK RETAILERS LTD reported turnover of £687,730,000. (Sources: New Look Annual Report 2025 and Companies House: 24/06/2026). (3) Under the terms of the lease, the rent is made up of (a) the base rent is currently £90,000 plus VAT per annum and (b) the turnover rent equates to 4% of gross turnover where this amount exceeds £90,000 per annum. (4) The lease provides for a mutual option to determine the lease subject on 13th August 2027 subject to the serving not less than 6 months written notice and is excluded from the security of tenure process of the Landlord and Tenant Act 1954. The lease also provides for a service charge cap at £192,166.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
