Investment premises for sale in Accrington

This property is marketed by:
Taylor Weaver

Key Features:

• FOR SALE
• Well Secured B&M Bargains Investment
• Current Rent Passing - £299,374 per annum (£9.52 per sq. ft.)

Location

The premises are prominently situated fronting Hyndburn Road, close to the Viaduct Roundabout junction on the edge of Accrington town centre.

Neighbouring occupiers include Aldi, Asda, McDonalds, Farm Foods and Vue Cinema.

Hyndburn Road is the main arterial road linking Accrington town centre to Junction 7 of the M65 motorway.

Description

Originally constructed as a Home Base store, the property comprises a purpose built, modern, single storey, non-food, retail warehouse, constructed on a steel portal frame with brick and insulated profile steel cladding to both walls and roof, including double skin translucent roof panels.

To the side of the property is a large garden centre area and tarmac surfaced car parking for 160 vehicles fronts the property.

Accommodation

We have calculated the gross internal floor area to be 31,430 sq.ft.

Price

On request

Lease Terms

The premises are let to B & M Retail Ltd. on a lease expiring on 23rd June 2027. The tenant occupies the property on full repairing and insuring terms and the current rent passing is £299,374 per annum (£9.52 per sq.ft).

The lease was originally granted to Home Base Ltd., who assigned it to B & M Retail in December 2014. The premises were then refurbished and fitted out to B & M specification.

Legal Costs

Each party to be responsible for their own legal costs involved in the transaction.

Services

All mains services are connected to the property.

Money Laundering Regulations

Please note we are now required to carry out customer due diligence on all purchasers once an offer is accepted, whereby we are required to obtain proof of identity and proof of address of the prospective purchaser

Comparable Information

Eastgate Retail Park - 2 units measuring 7,000 and 10,386 sq.ft let at £12.93 per sq.ft. and £11.22 per sq.ft respectively.

Whitebirk Retail Park - non-food retail units (with bulky goods restriction) let at £10 per sq.ft. (Smyths Toys).

Tenant Covenant

B&M have a market cap of approximately £3.45 billion and listed on the FTSE 250.