Greenock, United Kingdom
£4,400,000
Price paid to the seller for the asset
£208,685
Stamp Duty Land Tax paid to the government for the purchase
£88,000
Commission paid to estate agent to execute transations
£30,800
Expenses incurred to complete the transaction
£22,000
Expenses incurred w.r.t Special Purpose Vehicles
£25,515
Funds reserved for contingencies
There is a unique opportunity to purchase a retail warehouse (warehouse cum retail store) totalling 41,583 sq ft in Greenock, UK, tenanted to B&M Retail at an all-in price of £4,775,000 (£ 106 per sq ft) implying a 8.02% cash-on-cash yield and 15.7% IRR for eligible investors.
B&M is a leading discount retailer, operating from over 680 high street and out of town stores across the UK, with a team of over 36,000 people.
Greenock is located on the west coast of Scotland 22 miles west of Glasgow city with a catchment population in excess of 1,000,000 people. The subject property is approx. 500m away from Greenock Ocean Terminal which is Scotland's leading west coast container and cruise port. It is also one of the deepest ports in northern Europe.
We believe this is a rare opportunity to acquire a highly prominent retail warehouse (warehouse cum retail store) tenanted to B&M (FTSE 100) with a 10+ year unexpired lease term.
B&M is a leading discount retailer in the UK, operating from over 680 high street and out of town stores across the UK, with a team of over 36,000 people.
Total Area
41,583 sq.ft
Rent per sq.ft
£7.93
Credit Risk Rating
5A2
Rent Review
Every 5 years
Tenant Break
5 years
Lease Period
20 years
Rent Review Type*
Upwards Only
Greenock is 500m away from Greenock Ocean Terminal which is Scotland's leading west coast container and cruise port. It is also one of the deepest ports in northern Europe.
The property is used as a retail warehouse-cum-store and is spread over 36,934 sq ft on the ground floor (89% of total area) and 4,649 sq ft on the first floor (11% of total area) along with 190 car parks.
