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Prime Retail Warehouse Investment - 18.7 Years Income to an Excellent Covenant

For sale: £6,090,000.00|Retail

Property details

FOR SALE£6,090,000.00
ADDRESSB&M Weston Favell, Billing Brook Road, Northampton, NN3 8SE
TYPERetail
TENUREFor Sale Freehold
POSTED ON6th March 2024

Description

• Retail warehouse investment let for a further 18.7 years to the excellent covenant of B&M Retail Limited.
• Located in the populous area of Weston Favell, east of Northampton town centre.
• Prominent position fronting both Billing Brook Road and Wellingborough Road (A4500).
• Good road connectivity to the wider area via the main arterial A43.
• Freehold.
• Comprises a 29,691 sq ft store on a large 2.26 acre site, with 149 car parking spaces (1:199 sq ft).
• Fully refurbished in 2022 by the tenant.
• Let to B&M Retail Limited on a lease expiring 10th October 2042 (c. 18.7 years unexpired).
• B&M have been in occupation since 2012 and signed a reversionary lease in 2022, extending the lease term from 2027 to 2042.
• Affordable rent of £405,810 per annum (£13.67 per sq ft).
• 5 yearly open market rent reviews.
• 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 Weston Favell, Billing Brook Road, Northampton, NN3 8SE

Northampton (3.3 miles)

Wellingborough (7.4 miles)

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