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B&Q Marlborough Retail Park
Highfield Road, Craigavon, BT64 3AD | |
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| - The property occupies a prominent location in Central Craigavon adjacent to Tesco Extra and Rushmere Shopping Centre & Retail Park.
- A purpose built retail warehouse unit with a gross internal area of 86,620 sq.ft.
- Freehold.
- Full Class 1 retail planning permission.
- The Property is let to B&Q Plc on a 25 year full repairing and insuring lease from the 1st November 2001.
- The lease incorporates 5 yearly open market upwards only rent reviews. The next rent review is due on 1st November 2016.
- Current rent passing is £1,000,000 per annum. The lease stipulates the property is to be reviewed to an 80,000 sq ft unit and on this basis the rent equates to £12.50 per sq ft.
- Our client is seeking offers in excess of £11,450,000 (Eleven Million, Four Hundred and Fifty Thousand Pounds) reflecting an attractive net initial yield of 8.25% excluding VAT and assuming full purchasers costs at 5.80%.
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