Long Income Retail Investment Opportunity Let to B&M
- Long income investment opportunity located in Greenock town centre.
- Highly prominent single let retail premises extending to (3,863.2 sq m) 41,583 sq ft along with approximately 190 car parking spaces as well as servicing facilities.
- Let to B&M Retail Ltd (Creditsafe Rating: 94A) until 30th August 2032, therefore providing over 10.5 years unexpired lease term.
- Current passing rent of £270,532 p.a., which equates to a low passing rent of £6.50 per sq ft.
- The rent is subject to 5 yearly RPI linked rent reviews.
- The vendor will ‘top up’ the rent to the next review on 31st August 2022, equating to £329,911 p.a. reflecting the expected increase to the RPI linked cap.
- Heritable tenure (Scottish equivalent of English Freehold).