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Greenock , United Kingdom
8.02%
HIGH CASH-ON-CASH YIELD
15.7%
HIGH RETURNS
£106
ATTRACTIVE PRICE
United Kingdom
LOCATION
Name
B&M
Country
United Kingdom
Description
B&M is a leading discount retailer in the UK, operating from over 680 high street and out of town stores across the UK, with a team of over 36,000 people.
Time Period
Lease Start Date
30 Aug 2012
Lock-in Period
20 YEARS
Lease End Date
30 Aug 2032
Tenant Highlights
41,583 SF
Total Area
£7.93
Rent Per SF Per Year
20 YEARS
Lease Period
4.05%
Escalation
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Greenock is 500m away from Greenock Ocean Terminal which is Scotland's leading west coast container and cruise port. It is also one of the deepest ports in northern Europe.
The property is used as a retail warehouse (warehouse cum retail store) and is spread over 36,934 sf on the ground floor (89% of total area) and 4,649 sf on the first floor (11% of total area) along with 190 car parks.
There is a unique opportunity to purchase a retail warehouse (warehouse cum retail store) totalling 41,583 sf in Greenock, UK, tenanted to B&M Retail at an all-in price of £4,775,000 (£ 106 per sf) implying a 8.02% cash-on-cash yield and 15.7% IRR for eligible investors.
B&M is a leading discount retailer, operating from over 680 high street and out of town stores across the UK, with a team of over 36,000 people.
Greenock is located on the west coast of Scotland 22 miles west of Glasgow city with a catchment population in excess of 1,000,000 people. The subject property is approx. 500m away from Greenock Ocean Terminal which is Scotland's leading west coast container and cruise port. It is also one of the deepest ports in northern Europe.
We believe this is a rare opportunity to acquire a highly prominent retail warehouse (warehouse cum retail store) tenanted to B&M (FTSE 100) with a 10+ year unexpired lease term.
Investment Note
Detailed Investment Note
Legal Title Report
Detailed Report on the Title diligence of the property
Comments (if any)