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Prime Retail Warehouse Investment - 10.2 Years Income to an Excellent Covenant

For sale: £4,150,000.00|Retail

Property details

FOR SALE£4,150,000.00
ADDRESSB&M Brownhills, Ferrie Grove, West Midlands, WS8 6EB
TYPERetail
TENUREFor Sale Freehold
POSTED ON6th March 2024

Description


• Retail warehouse investment let for a further 10.2 years to the excellent covenant of B&M Retail Limited.
• Located in the town of Brownhills, north of Birmingham.
• Prominent position fronting a busy roundabout on the A452, adjacent to an Aldi and Tesco Superstore.
• Good road connectivity to the wider area via the A5 and Junction T6 of the M6 Toll.
• Comprises a 25,732 sq ft store on a large 1.96 acre site, with 150 car parking spaces (1:172 sq ft).
• Fully refurbished in 2021 by the tenant.
• Let to B&M Retail Limited on a 15 year lease, expiring 29th April 2034 (c. 10.2 years unexpired).
• B&M have been in occupation since 2011 and signed a reversionary lease in 2018, extending the lease term from 2019 to 2034.
• Affordable rent of £309,100 per annum (£12.01 per sq ft).
• 5 yearly open market rent reviews, capped at 12%.
• Long leasehold from Walsall Council with 149 years unexpired at a rent of £1 per annum.
• B&M European Value Retail SA is a FTSE 100 listed company and has a market capitalisation of £5.00 billion.

Location

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Location: B&M Brownhills, Ferrie Grove, West Midlands, WS8 6EB

Landywood (3.6 miles)

Bloxwich (3.8 miles)

Bloxwich North (3.9 miles)

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