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B&M

Hazlemere Road, Basildon, SS13 3JY 24,749 sq ft

Description

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%).

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