Burton - Marks & Spencer_Property for Sale

2-6 St Modwens Walk, Burton-On-Trent, Staffordshire, DE14 1HL, UK

Burton - Marks & Spencer

Asset description

The unit comprises 71,804 sq ft of accommodation arranged across ground and four upper floors.

Tenant trades over ground and first floors with a further two floors of storage. There is a strong food offering across the store with both a supermarket

element as well as an M&S café.

...

Attributes

Asking Price

¥1,354,660,000

Building area Net

6,671 sm

Occupancy

100.00%

Year built

1970

Media

Investment highlights

New 999-year virtual freehold interest at a peppercorn rent from June 2022
Single-let to Marks and Spencer Plc with 71.8 years unexpired with no breaks
Net passing rent of £549,000 per annum reflecting a sustainable £7.65 per sq ft
Upwards only rent review every 14 years to open market value with next review on 1st April 2029
Anchor tenant within Cooper Square Shopping Centre benefiting from excellent footfall
Marks and Spencer Plc posted buoyant end of year results for the 12 months to April 2023 with positive trading feedback from the tenant on site
Burton-on-Trent is ranked in the top 15% of all PROMIS centres for both population growth and retail expenditure growth
Strong development activity in Burton-on-Trent facilitating population growth and increased retail expenditure