Instructions
TRAVIS PERKINS, PHOENIX MILL, KING STREET, BLACKBURN
UNDER OFFER
Disposal of a trade counter investment.
- Prime, town-centre, trade and warehouse location.
- Excellent road links to Manchester, Preston via the A666 and A667 to the M6, M61 and M65 motorways.
- Modern build trade warehouse with separate trade counter & builders merchant unit.
- Substantial secure yard and external racking.
- 11,830 sq ft of rentalised GIA.
- Site area of 1.77 acres and low 15.34% ‘footprint’ site coverage.
- Freehold.
- Tenant: Travis Perkins Trading Company Limited (Experian Score of 100 ‘Very Low Risk’).
- Lease: 15 years from November 2024, FRI, 5 yrly Rent Reviews to Market Rental (any increase capped at 21.67% ie 4% pa compound).
- Initial rental of £126,000 pa (£7.50 psf Market Rental and £0.75 psf on surplus yard area).
- Seeking offers over £2,026,000 (Two Million and Twenty-Six Thousand Pounds) for the freehold interest, subject to contract and exclusive of VAT, to show a net initial yield of 5.85% assuming standard Purchaser’s Costs of 6.28%.