Stockport retail warehouse primed for sale
B&M and Dreams occupy the two-unit 18,500 sq ft Great Portwood Street building, which is available for just shy of £3.2m.
Rosebury Real Estate has been tasked with finding a buyer for the fully let 1990s-built asset, which has an average unexpired lease term of 5.4 years.
B&M has a break option in 2027 and beds and mattress retailer Dreams in 2028.
Just off the M60, the building sits immediately across the A560 from the Peel Centre, a 332,000 sq ft powerhouse of the local big box retail scene anchored by M&S and The Range.
As set out in the particulars, the asset has a total passing rent of just over £270,000 per year, equating to an affordable average rent of £14.69 per sq ft. A sale at the guide price of £3.18m would reflect a net initial yield of 8%.
The majority of the plot is held freehold, with a small strip held on a long leasehold of 5,000 years.
