Prime retail warehouse investment located in the popular commuter town of Basildon within the county of Essex, 26 miles east of Central London.
A strong retail warehouse location with a large and affluent catchment. Over 603,000 people live within 20 minutes’ drive of the property.
The town is to see significantly above average growth in population over the next 5 years.
A highly prominent purpose built retail warehouse unit totalling 24,749 sq ft.
Let to B&M on a new 10 year lease expiring on 14 December 2031.
Current passing rent of £321,737 per annum, equating to £13.00 per sq ft.
Adjacent to an owner occupied Tesco Extra foodstore.
Use Class E. Open A1 (with certain restrictions).
Freehold site totalling 1.77 acres (0.72 hectares), site cover of 32%.
We are instructed to seek offers in excess of £5,750,000 (Five Million, Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 5.25% (assuming purchaser’s costs of 6.62%).