- FOR SALE
- Well Secured Retail Investment Opportunity
Price: On request.
The premises are prominently situated fronting Hyndburn Road, close to the Viaduct Roundabout junction on the outskirts 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.
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.
We have calculated the gross internal floor area to be 31,430 sq.ft.
All mains services are connected to the property.
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 rent is reviewed five yearly to open market rental value. The next review is schedule for 29th September 2019. 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.
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). The former PC World premises on the market for £14 per sq.ft.
B&M have a market cap of approximately £3.45 billion and listed on the FTSE 250.
Each party to be responsible for their own legal costs involved in the transaction.
Strictly through sole agents Taylor Weaver (Alex Taylor) 01254 699030