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Wickes

Riverfield Drive, Bedford, MK41 0UE 26,036 sq ft

Description

Prime retail warehouse investment located in the historic market town of Bedford, 60 miles north of London. A strong retail warehouse location with a large and affluent catchment. Over 252,000 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 accessible purpose built retail warehouse unit totalling 26,036 sq ft. Let to Wickes on a 10 year reversionary lease expiring on 23 June 2030. Current passing rent of £347,000 per annum, equating to £13.33 per sq ft. Adjacent to Waitrose and Tesco foodstores (both owner occupied) and a B&M Homestore. Use Class E. Wide Bulky Goods planning consent. Freehold site totalling 2.69 acres (1.09 hectares), cover of 22%. We are instructed to seek offers in excess of £6,200,000 (Six Million, Two Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects a net initial yield of 5.25% (assuming purchaser’s costs of 6.63%).

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