Halifax retail warehouse offers ‘high quality investment’ opportunity
July 1st, 2019
An impressive modern retail warehouse investment opportunity in Halifax has been brought to market, via leading commercial property agents Commercial Property Partners LLP (CPP).
Prominently located on Pellon Lane, adjacent to Halifax Retail Park, the high-quality purpose-built building is let to Dunelm (Soft Furnishings) Ltd - one of the UK’s leading home furnishing retailers, with 170 stores across the UK – with just over eight years left on the lease.
Constructed in 2003, the property comprises a detached, purpose-built retail warehouse facility of 16,394 sq ft.
There is also a car park to the front of the building, with 55 marked spaces, accessed from Bedford Street North to the west of the building.
Offers are sought in excess of £2,490,000, subject to contract and exclusive of VAT – resulting in a Net Initial Yield of 7.50%.
Richard Wright, Partner at Commercial Property Partners, said: “We’re delighted to be able to offer this high-quality investment to the market.
“The opportunity will appeal to a wide spectrum of investor due to the property being let to a very strong covenant with a long unexpired term left on the lease.
“Furthermore, the building occupies a prominent location with neighbouring occupiers including The Range, Carpetright, Poundstretcher and TK Maxx.”