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Units 1-4 11 Canning St 10,645 sq ft 100% Let Retail Property Burnley BB12 0AD £2,350,000 (£220.76/sq ft) 6.44% Net Initial Yield
Investment Highlights
- Located adjacent to Princess Way Retail Park
- EV charging facilities
- Easily accessible from the M65
Executive Summary
Opportunity to acquire a highly prominent roadside asset located immediately adjacent to Princess Way Retail Park. The property comprises of four units which is fully occupied and multi-let, generating £160,900.00 per annum exclusive. The units break down as follows;
- Unit 1 is let to Formula One Auto Centres Limited on a 15 year lease with a 5 yearly rent review
- Unit 2 is let Lucky B's Hot Chicken on a 10 year lease with a fixed increase to £25,000 at rent review
- Unit 3 is let to Indigo Sun Retail Limited on a 15 year lease with a 5 yearly rent review to market rent.
- Unit 4 is let to Angling Direct PLC on a 10 year lease with a 5 yearly rent review, compounded annually in line with RPI
Offers in the region of £2,350,000.00 are to be considered.
- Unit 1 is let to Formula One Auto Centres Limited on a 15 year lease with a 5 yearly rent review
- Unit 2 is let Lucky B's Hot Chicken on a 10 year lease with a fixed increase to £25,000 at rent review
- Unit 3 is let to Indigo Sun Retail Limited on a 15 year lease with a 5 yearly rent review to market rent.
- Unit 4 is let to Angling Direct PLC on a 10 year lease with a 5 yearly rent review, compounded annually in line with RPI
Offers in the region of £2,350,000.00 are to be considered.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold/Long Leasehold
Property Size
10,645 sq ft
Costar Property Class
B
Year Built
1980
Price
£2,350,000
Price per sq ft
£220.76
Yield
6.44%
NOI
£151,340
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.31
Total Plot Size
0.78 ac
Parking
51 Spaces (4.79 Spaces per 1,000 sq ft Leased)
Frontage
633 ft on Canning Street
Amenities
- Mezzanine
- Roller Shutters
1 1
Nearby Major Retailers
1 of 3
Videos
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Photos
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Map
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Units 1-4 | 11 Canning St
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