Accrington B&M hits market
Yorkshire-based Bramall Properties is seeking bids in excess of £4.3m for the 31,000 sq ft store on Hyndburn Road.
The Accrington property is let to B&M until June 2027 and generates just shy of £300,000 a year in rent. This reflects a rental rate of less than £10/ sq ft.
The next rent review is due in September 2024.
A sale at asking price would reflect a net initial yield of 6.5% after full purchaser’s costs.
Carrick Real Estate is advising Bramall Properties on the sale.
Located close to the town’s Aldi and Asda supermarkets, the store was built in 1989 as a Homebase. B&M has occupied the unit since 2015.
B&M opened its first store in Cleveleys, Lancashire in 1979. Since then, the group has opened more than 700 stores and employs around 35,000 staff.
Last year, B&M turned over almost £5bn.