Johnson Tucker LLP sells B&M Retail Warehouse, Delves Lane, Consett, County Durham
Johnson Tucker LLP were instructed to sell this secure, retail warehouse investment, pre-let to B&M Retail Limited by a Corporate client.
The Property comprised a 4.28 acre site with retail warehouse extending to 40,634 sq ft. Formerly a Tesco Superstore, B&M Retail Limited had agreed to take an unbroken 15 year lease at an initial rental of £288,000 per annum from completion of a refurbishment.
The property was subsequently sold to an undisclosed purchaser in Q4 2014 for £4,000,000 reflecting a net initial yield of 6.99%.
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