Northampton is strategically located at the cross roads of Central England, with excellent road connections.
The B&M store is located in a prominent and easily accessible location on the inner ring road, adjacent to a dominant and well established Morrisons foodstore.
2 modern units totalling 22,046 sq ft and 4,109 sq ft let to the 5A1 covenant of B&M Retail Limited.
Open A1 planning consent including food.
To be sold by way of a sale and leaseback with a new 15 year full repairing and insuring lease with 5 yearly upwards only rent reviews capped at 12% (2.3% per annum).
Tenant option to renew for a further 10 years at lease expiry.
Affordable rent of £13.00 per sq ft, £340,015 per annum.
We are instructed to seek offers in the region of £4,910,000 (Four Million, Nine Hundred and Ten Thousand Pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 6.50% (assuming purchaser’s costs of 6.59%).