Hyndburn Road, Accrington, Lancashire, BB5
£138.40 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
31,430 sq ft
2,920 sq m
- SECTOR
Out-of-town retail property for sale
- USE CLASSUse class orders: A1 Shops, B1 Business, B8 Storage and Distribution and Class E
A1, B1, B8, E
Key features
- FOR SALE - Well Secured B&M Bargains Investment
- Tenant recently signed lease extension
- Current Rent Passing - £299,374 per annum (£9.52 per sq. ft.)
- Lease expiry June 2032 (no breaks)
- Price - £4,350,000
- Net initial yield of 6.54% (allowing for 5.31% purchasers cost)
- Available immediately
Description
The premises are prominently situated fronting Hyndburn Road, close to the Viaduct Roundabout junction on the edge of Accrington town centre.
Neighbouring occupiers include Aldi, Asda, McDonalds, Farm Foods and Vue Cinema.
Hyndburn Road is the main arterial road linking Accrington town centre to Junction 7 of the M65 motorway.
Description
Originally constructed as a Home Base store, the property comprises a purpose built, modern, single storey, non-food, retail warehouse, constructed on a steel portal frame with brick and insulated profile steel cladding to both walls and roof, including double skin translucent roof panels.
To the side of the property is a large garden centre area and tarmac surfaced car parking for 160 vehicles fronts the property.
Accommodation
We have calculated the gross internal floor area to be 31,430 sq.ft.
Price
£4,350,000
Tenure
Understood to be freehold
Lease Terms
The premises are let to B & M Retail Ltd. on a lease expiring on 23rd June 2032. The tenant occupies the property on full repairing and insuring terms and the current rent passing is £299,374 per annum (£9.52 per sq.ft).
The lease was originally granted to Home Base Ltd., who assigned it to B & M Retail in December 2014. The premises were then refurbished and fitted out to B & M specification.
There are no break clauses for the duration of the lease. Upward on rent review to open market value on 24 June 2024 (capped at 12% increase).
A copy of the lease is available on request.
Legal Costs
Each party to be responsible for their own legal costs involved in the transaction.
Services
All mains services are connected to the property.
Money Laundering Regulations
Please note we are now required to carry out customer due diligence on all purchasers once an offer is accepted, whereby we are required to obtain proof of identity and proof of address of the prospective purchaser
Viewing
Strictly through agents
Taylor Weaver
(James Taylor)
Brochures
Hyndburn Road, Accrington, Lancashire, BB5
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Accrington Station0.2 miles
- Church & Ostwaldwistle Station1.0 miles
- Huncoat Station1.5 miles
About Taylor Weaver Limited, England
Unit 17, Trident Park, Trident Way, BB1 3NU
On the 1st October 1999 Alex Taylor and Neil Weaver formed a new partnership called Taylor Weaver dealing with all types of commercial property matters throughout Lancashire. The business was incorporated in 2002.
Now established as one of the leading firms of commercial property surveyors in Lancashire, Taylor Weaver offer expert, cost effective property advice for a variety of clients who have recognised the excellent level of service offered by Taylor Weaver. In 2015 a new office wa
Notes
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