The subject property is the prime retail warehouse scheme in Burnley.
It comprises a 3 unit terrace totalling 40,138 sq ft and adjoins a 62,000 sq ft Sainsbury’s foodstore.
The focal point of Burnley’s main out-of-town retail pitch, which includes the neighbouring Anchor and Princess Way Retail Parks, combines to provide in excess of 280,000 sq ft.
Fully let to Currys PC World, Bensons for Beds and Oak Furnitureland.
WAULT of 7.3 years (3.6 years including tenant break options).
Current rent of £506,264 per annum, low average rent of £12.61 per sq ft.
‘Wide bulky goods’ planning consent.
Long leasehold interest with over 137 years remaining at an annual rent of £1.
Offers are sought in excess of £6,330,000 (Six Million, Three Hundred and Thirty Thousand Pounds), subject to contract and exclusive of VAT, which reflects an attractive net initial yield of 7.50% (assuming purchaser’s costs at 6.63%).