B&M, The Broadway, Bridgwater, Somerset TA6 3LN

Sold

Price £6,600,000

Rent (pa) £475,000

Yield 6.75%

Investment Summary

Prime solus retail warehouse investment in Bridgwater, Somerset
Bridgwater is an historic market town with a population of c. 40,000 inhabitants
Located just south of the town centre prominently along Broadway which sees up to 19,000 vehicle movements each day
Bridgwater Railway Station located less than a mile to the northeast of the site
Total floor area of 47,312 sq ft
Large site area of 3.5 acres providing parking for c.200 vehicles
Let to B&M Retail Limited
Reversionary FRI lease for a term of 10 years wef 24th June 2025, expiring 23rd June 2035 (10.1 years unexpired)
The tenant has been in occupation since 2016 on assignment
Re-based rent of £475,000 per annum (£10 psf)
Reduced from £616,000 per annum (£13.02 psf)
Rent reviewed 5 yearly to OMRV (Cap at 12% increase – 2% per annum compound)
Freehold
Open A1 (food and alcohol use)
The site provides asset management potential with development of drive thru on the car park (STP)