Dewsbury is a traditional market town in West Yorkshire. It is well located, benefitting from easy access to the M62 and the M1 motorways.
The town has an extensive catchment population, with 507,040 people living within a 20 minute drive time of the subject property.
The property is located in the principal retail warehousing pitch for the town.
Retail warehousing in Dewsbury is limited, as a result many national retailers are not represented here, including Dunelm, Aldi and Home Bargains.
The scheme totals 38,126 sq ft and is let to the 5A1 covenants of B&Q plc and Screwfix Direct Ltd.
The total rent is £358,850 per annum, equating to a low average rent of £9.41 per sq ft.
Attractive WAULT of 8.5 years.
Open A1 non-food planning consent.
The tenants trade well here, as evidenced by B&Q recently extending their lease term by 5 years.
The Screwfix lease benefits from a fixed uplift in January 2019.
We are seeking offers in excess of £4,810,000 (Four Million, Eight Hundred and Ten Thousand Pounds). A purchase at this level reflects an attractive net initial yield of 7.00%, increasing to 7.15% in January 2019, assuming purchaser’s costs of 6.58%.