Single let retail warehouse investment opportunity
Prominently situated on Manchester Road, opposite Burnden Retail Park and close to Manchester Road Retail Park
Total gross internal area of 14,990 sq ft (1,392.6 sq m)
Site area of 1.30 acres
Let to Halfords Limited (D&B 5A1 - £766m net worth)
40 year FRI lease commencing 18th November 1988, expiring 17th November 2028 (c. 9.25 years unexpired)
Tenant only break on 18th November 2023 (c. 4.25 years unexpired)
Current rent of £172,431 per annum (£11.50 psf)
Freehold
Rent reviewed in November 2023 to the lesser of OMRV or 2.5% per annum compounded
Offers in excess of £1,910,000 (STC)
Net Initial Yield of 8.5%, and a low capital value of just £127 psf
