Status: Sold
Terms: For Sale
Price: £2,100,000
Yield: 6.94%
B&M, March Trading Park, Martin Avenue, March PE15 0DF
- March is a market town in Cambridgeshire, located approximately 20 miles east of Peterborough and 32 miles north of Cambridge
- The property is prominently located within an established retail cluster, 1.5 miles north west of the town centre
- Solus retail warehouse unit comprising a total of approximately 25,375 sq ft with 106 car parking spaces, providing ratio of 1:239 sq ft
- The property is let to B&M Retail Limited with approximately 12 years unexpired
- Low passing rental level of £155,000 per annum, equating to £6.11 per sq ft
- The next OMV rent review is due on 23 June 2020, capped at £200,000 per annum and 5 yearly thereafter (uncapped)
- Freehold
Our client is seeking offers in excess of £2,100,000 (Two Million, One Hundred Thousand Pounds) subject to contract and exclusive VAT.
A purchase at this level reflects an attractive Net Initial Yield of 6.94% assuming purchaser’s costs of 6.3%.
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