Asda plot for sale for £6.25m
The five acre site in Bolton, which includes an Asda supermarket, has been brought to market with a guide price of £6.25m.
A sale at that price would represent a net initial yield of 4.25%.
The site is located in Farnworth, three miles from Bolton town centre. The property is located next to the main retail area of Brackley Street.
Asda is committed to paying a minimum annual ground lease of £280,775 until the year 2078. The next rent review is June 2018. Additionally, the lease has full repair and insurance terms.
GVA is acting for the vendor. An auction will be held on 10 December unless the property is sold beforehand.
The majority of the site itself is held freehold, with some long leasehold elements with more than 900 years unexpired. There are additional development opportunities on the land and Asda has made a planning application to develop a petrol filling station on the site.