Retail

B&Q, Mucklow Hill, Halesowen B62 8EP

 

Price: £19,500,000 - Initial Yield:7.50%

Date: Q3 2020

Acting on behalf of Nuveen Real Estate we advised on the sale of this retail warehouse investment to Aberdeen Standard Investments for £19.5m, reflecting a net initial yield of 7.5%. 

The property comprises a modern purpose built retail warehouse with associated builders merchant and garden centre extending to 92,400 sq ft GIA. Let to B&Q for a further 12 years at a total passing rent of £1,560,000 p.a, equating to £16.88 psf. The unit is a dominant DIY store serving west Birmingham and the M5 corridor with excellent car parking ratio of 1:198 sq ft. 

Contact

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Julian Gallagher

Tel: 020 7493 3330
Mob: 07941 413 299
jgallagher@lewisellis.co.uk


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