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
