PROPERTIES

B&M 91 Lord Street, Southport, PR8 1RH

Price£4,300,000

PDF DETAILS

B&M 91 Lord Street, Southport, PR8 1RH

  • Price£4,300,000
  • Income£402,400
  • Yield8.4%
  • SectorOut of Town Retail
  • StatusAvailable
PDF DETAILS

Well Secured High Yielding Retail Warehouse Investment With a Number of Asset Management Opportunities

Summary

  • Located in the affluent coastal town and tourist hub of Southport.
  • Excellent position situated on the north side of Lord Street.
  • Securely let to Safeway Stores ltd (Morrisons) with a co terminus sublease to B&M Retail Limited for a further 4.5 years.
  • Current rent of £402,400 per annum.
  • B&M have been in occupation for over 27 years and have recently spent over £200,000 on the property with further works planned.
  • Freehold
  • 119 car parking spaces.
  • Large site area of 1.4 acres reflecting a low site cover of approximately 29%.
  • A number of asset management opportunities to include alternative uses, subject to necessary planning consents.
  • Offers in excess of £4,300,000 (FOUR MILLION AND THREE HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT.
  • Net Initial Yield of 8.4% after allowance for purchaser’s costs of 6.57%